DRIVIN G ROWTH - Dr. Reddy's

schedule to the consolidated balance sheet and profit and loss account
The consolidated subsidiaries of the Company are listed below:
Entity (Subsidiaries) Country of incorporation Percentage
holding (%)
OOO JV Reddy Biomed Limited (“RBL”) A Company organised under the laws of Russia. 76
Reddy Pharmaceuticals Hong Kong Limited A Company organised under the laws of Hong Kong 100
Dr. Reddy’s Laboratories Inc. A Company organised under the laws of New Jersey, 100
(“DRLI”, formerly Reddy Cheminor Inc.) USA
Reddy Cheminor S.A. A Company organised under the laws of Chartres, France 100
Reddy Antilles N.V. (RANV) A Company organised under the laws of Antilles,
Netherlands
100
Dr. Reddy’s Farmaceutica Do Brazil Ltda. A Company organised under the laws of Brazil 100
Zenovus Biotech (P) Limited A Company organised under the laws of India 100
Aurigene Discovery Technologies Limited A Company organised under the laws of India 100
Kunshan Rotam Reddy Pharmaceutical Co. Limited
(“Reddy Kunshan”)
A Company organised under the laws of China 51
Compact Electric Limited A Company organised under the laws of India 100
Cheminor Investments Limited A Company organised under the laws of India 100
DRL Investments Limited
Step-down subsidiaries
A Company organised under the laws of India 100
Reddy Netherlands B.V. A subsidiary of Reddy Antilles N.V.,
organised under the laws of Netherlands
100
Reddy Pharmaceuticals Singapore Pte Limited A subsidiary of Reddy Antilles N.V.,
organised under the laws of Singapore
100
Reddy US Therapeutics Inc (Reddy US)
Partnership firm
A subsidiary of Reddy Antilles N.V.,
organised under the laws of Atlanta, USA
90
Globe Enterprises A partnership firm with Dr. Reddy’s Holdings Limited
organised under the laws of India, wherein DRL and
Dr. Reddy’s Holdings Limited share the profits in the
ratio of 95:5.
95
3. COMMITMENTS AND CONTINGENT LIABILITIES
(Rs. thousand)
As at March 31, 2002
i) Commitments / Contingent liabilities:
a) Guarantees given by banks 132,242
b) Guarantees given by the Group 925,070
c) Letters of credit outstanding 181,973
ii) Claims against the Group not acknowledged as debts in respect of:
a) Demands for payments into the credit of the Drug Prices Equalisation Account under Drugs (Price 148,562
Control) Order, 1979, which are contested by the Company in respect of its product “Norfloxacin”.
The Group has filed a legal suit against the notification, where interim stay has been granted by the
Andhra Pradesh High Court in favour of the Group.
b) Income tax matters, pending decisions on various appeals made by the Group and by the Department 163,180
c) Excise matters, under dispute 47,673
d) Sales tax matters, under dispute 1,470
e) Other matters 9,138
iii)Estimated amount of contracts remaining to be executed on capital account and not provided for (net of advances) 882,139
iv)The Group is also involved in other lawsuits, claims, investigations and proceedings, including patent and
commercial matters, which arise in the ordinary course of business. However, there are no such matters
pending that the Group expects to be material in relation to its business.
CONSOLIDATED FINANCIALS | FINANCIALS | ANNUAL REPORT 2001-2002
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