Transaction Advisory Services

Sun Pharma Advanced Research Company Limited – Letter Of Offer

Disclaimer- This disclaimer needs to appear on the website of Ernst & Young Merchant Banking Services Private Limited, being the Lead Manager to the Issue.

Important: You must read and agree with the terms and conditions of the following disclaimer before continuing.

The following disclaimer applies to the Letter of Offer ("LOF"), dated August 10, 2012, filed by Sun Pharma Advanced Research Company Limited (“Company”) with BSE Limited and National Stock Exchange of India Limited (the “Stock Exchanges”) and also with the Securities Exchange Board of India (“SEBI”), a copy of which is hosted on our website. You are advised to read this disclaimer carefully before reading, accessing or making any other use of the attached LOF. In accessing the LOF, you agree to be bound by the following terms and conditions. You are reminded that you have accessed the LOF on the basis that you are a person into whose possession the LOF may be lawfully delivered in accordance with the laws of the jurisdiction in which you are located. The information on this portion of our website is not intended to be viewed by US persons or any person in the United States. The LOF has been hosted on our website as we, Ernst & Young Merchant Banking Services Private Limited acting as Lead Manager to the Issue (“Lead Manager to the Issue”) as prescribed under the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended ("SEBI ICDR Regulations"), has taken all necessary steps to ensure that the contents of the LOF as appearing on this site are identical to the LOF submitted to the Stock Exchanges and SEBI . You are reminded that documents transmitted in electronic form may be altered or changed during the process of transmission and consequently neither us nor any of our affiliates shall accept any liability or responsibility whatsoever in respect of alterations or changes which have taken place during the course of transmission of electronic data. The content of this LOF is for your information only. No part of the contents herein shall be copied or duplicated in any form by any means, or redistributed. We are not soliciting any action based on it, and it should not be construed as an offer to sell or the solicitation of an offer to buy any security.. This LOF does not constitute an offer to sell or an invitation to subscribe to shares offered in any jurisdiction to any person to whom it is unlawful to make an offer or invitation in such jurisdiction. Any person into whose possession this LOF comes is required to inform him or herself about and to observe any such restrictions. We will not be responsible for any loss or damage that could result from interception and interpretation by any third parties of any information being made available to you through this site. We will not be responsible for any loss to any person/ entity caused by any shortcoming, defect or inaccuracy inadvertently or otherwise crept in the web site. Neither we, nor any of our affiliates nor our directors, officers and employees will be liable or will have any responsibility of any kind for any loss or damage that you incur in the event of any failure or disruption of this site, or resulting from the act or omission of any other party involved in making this site or the data contained therein available to you, or from any other cause relating to your access to, inability to access, or use of the site or these materials.