SUN PHARMA ADVANCED RESEARCH COMPANY LTD. - Clarification

With reference to the news articles published in the media (including The Economic Times dated September 28, 2015), where the Company - Sun Pharma Advanced Research Company Limited (SPARC) has been mentioned as a subsidiary of Sun Pharmaceutical Industries Limited (SPIL), In this regard, Sun Pharma Advanced Research Company Ltd has clarified to BSE as under:<BR><BR>"While both SPARC & SPIL have a common Promoter Mr. Dilip Shanghvi and accordingly forms a part of the same Group, there is no Subsidiary -'Holding Company relationship between the two Companies."