Indemnity
Director's and Others’ Right to Indemnity

Subject to the provisions of the Act, every Director and Officer of the Company shall be indemnified by the Company against
any liability incurred by him in defending any proceedings, whether civil or criminal, in which judgment is given in his favour
or in which he is acquitted or in which relief is granted to him by the court or the tribunal. Provided, however, that such
indemnification shall not apply in respect of any cost or loss or expenses to the extent it is finally judicially determined to have
resulted from the negligence, wilful misconduct or bad faith acts or omissions of such Director.

Insurance

The Company may take and maintain any insurance as the Board may think fit on behalf of its present and/or former directors
and key managerial personnel for indemnifying all or any of them against any liability for any acts in relation to the Company
for which they may be liable but have acted honestly and reasonably.

Covenants

The Company shall at all times undertake activities in which foreign investment is permitted under the automatic route, for so
long as Lavender Rose is a Shareholder. The Company shall at all times ensure that neither the Company, nor any Subsidiary
would qualify as a ‘non-banking financial company’ or a ‘core investment company’, as defined under applicable Law.

PFIC, CFC and FCPA Covenants

The Company, every group company and its affiliates shall provide all information required to determine whether such group
company is a “passive foreign investment company” within the meaning of Section 1297 of the U.S. Internal Revenue Code
of 1986, as amended and for Lavender Rose to make the required filings. The group company, if informed that it was a US
controlled foreign company, shall promptly inform Lavender Rose and furnish all information necessary to satisfy the
United States income tax return filing requirements of Lavender Rose. The company will cause each of its Subsidiaries
and affiliates within 90 days of becoming a Subsidiary or an Affiliate, to ensure compliance with the Prevention of Money
Laundering Act, 2002, the Prevention of Corruption Act, 1988, the United States Foreign Corrupt Practices Act of 1977, as
amended or any other applicable anti-bribery or anti-corruption law.

PARTB

Part B of the Articles of Association of the Company provides for the rights and obligations of the parties to the Shareholders
Agreement dated December 24, 2020 amongst our Company, our Promoters, PIOF, S.S. Pharma LLC, Shore Pharma LLC,
Natco Pharma Limited, Time Cap Pharma Labs Private Limited, Lavender Rose, Gangadi Investments Private Limited and
certain individual shareholders of our Company as amended by the waiver cum amendment agreement dated August 5, 2021.
All Articles of Part B shall automatically terminate, without any further corporate or other action by the Company or by its
shareholders, and cease to have any force and effect from the date of listing of Equity Shares of the Company on a recognized
stock exchange in India pursuant to the Offer and the provisions of Part A shall continue to be in effect and be in force, without
any further corporate or other action, by the Company or by its shareholders

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