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<TITLE>S-8</TITLE>
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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>As filed with the Securities and Exchange Commission on March&nbsp;5, 2007</B>
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 6pt"><B>Registration No: 333-</B><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
</DIV>


<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt; margin-top:6pt">&nbsp;</DIV>
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<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>WASHINGTON, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></B>
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<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM S-8</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>REGISTRATION STATEMENT<BR>
UNDER<BR>
THE SECURITIES ACT OF 1933</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></B>
</DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>DR. REDDY&#146;S LABORATORIES LIMITED</B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Exact name of Registrant as specified in its charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
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<TR valign="bottom">
    <TD align="center" valign="top"><B>India</B><BR>
(State or other jurisdiction of <BR>
incorporation or organization)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>Not Applicable</B><BR>
(IRS employer<BR>
identification number)</TD>
</TR>
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</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>7-1-27 Ameerpet<BR>
Hyderabad, Andra Pradesh 500016<BR>
India</B><BR>
(Address of Principal Executive Offices)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Dr.&nbsp;Reddy&#146;s Employees ADR Stock Option Scheme, 2007</B><BR>
(Full title of the plan)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Dr.&nbsp;Reddy&#146;s Laboratories, Inc.<BR>
200 Somerset Corporate Boulevard (Bldg II)<BR>
Bridgewater, New Jersey 08807</B><BR>
(Name and address of agent for service)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>(908)&nbsp;203-4900</B><BR>
(Telephone number, including area code, of agent for service)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><I>Copies of Communications to:</I></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>James F. Fitzsimmons, Esq.<BR>
Budd Larner, P.C .<BR>
150 John F. Kennedy Parkway<BR>
Short Hills, New Jersey 07078</B></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>CALCULATION OF THE REGISTRATION FEE</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD width="1%">&nbsp;</TD>
    <TD width="54%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
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    <TD width="2%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>

    <TD width="1%">&nbsp;</TD>
</TR><TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="17" style="border-bottom: 3px double #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Proposed maximum</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Proposed maximum</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="center"><B>Title of securities</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Amount to be</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>offering price</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>aggregate offering</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Amount of</B></TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="center"><B>to be registered</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>registered</B><SUP style="font-size: 85%; vertical-align: text-top"><B>(1)</B></SUP></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>per share</B><SUP style="font-size: 85%; vertical-align: text-top"><B>(2)</B></SUP></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>price</B><SUP style="font-size: 85%; vertical-align: text-top"><B>(2)</B></SUP></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>registration fee</B></TD>
    <TD width="1%">&nbsp;</TD>
</TR>

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    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
                    <TD valign="top" style="border-top: 2px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">Equity shares of
Rs.5 par value, as
evidenced by American
depositary receipts
</DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD nowrap align="right" valign="bottom" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="right" valign="bottom" style="border-top: 2px solid #000000">1,530,779</TD>
    <TD nowrap valign="bottom" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>$</B>14.55
</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>$</B>22,272,834.45
</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>$</B>683.78</TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="17" style="border-top: 3px double #000000">&nbsp;</TD>
</TR>

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</TABLE>
</DIV>



<DIV style="margin-top: 3pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD>Based on 1,530,779 American depositary receipts (&#147;ADRs&#148;) subject to issuance under the
Dr.&nbsp;Reddy&#146;s Employees ADR Stock Option Scheme, 2007 (the &#147;2007 Plan&#148;). Each ADR evidences one
American depositary share (&#147;ADS&#148;) deliverable on deposit of equity shares, and each ADS
represents one equity share. Each underlying ADS will be registered under a separate
registration on Form F-6. This Registration Statement also covers such additional ADRs as may
be issuable under the 2007 Plan pursuant to anti-dilution provisions or any stock dividend,
stock split, recapitalization or similar transaction effected without the receipt of
consideration which results in an increase in the number of outstanding equity shares of the
Registrant.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(2)</TD>
    <TD>&nbsp;</TD>
    <TD>Estimated solely for the purpose of calculating the amount of the registration fee pursuant
to Rule&nbsp;457(h)(1) and Rule 457(c) under the Securities Act of 1933, as amended. Such estimate
has been computed based on the average of the high and low sales prices on the New York Stock
Exchange on March&nbsp;1, 2007 for American Depository Receipts of Dr.&nbsp;Reddy&#146;s Laboratories
Limited.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>This Registration Statement shall become effective upon filing in accordance with Section
462(a) under the Securities Act.</B>
</DIV>


<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





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<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

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<TR><TD colspan="9"><A HREF="#000">PART I</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#001">Item&nbsp;1. Plan Information</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#002">Item&nbsp;2. Registrant Information and Employee Plan Annual Information</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003">PART II</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#004">Item&nbsp;3. Incorporation of Documents by Reference</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#005">Item&nbsp;4. Description of Securities</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#006">Item&nbsp;5. Interests of Named Experts and Counsel</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#007">Item&nbsp;6. Indemnification of Officers and Directors</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#008">Item&nbsp;7. Exemption from Registration Claimed</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#009">Item&nbsp;8. Exhibits</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#010">Item&nbsp;9. Undertakings</A></TD></TR>
<TR><TD colspan="9"><A HREF="#011">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#012">EXHIBIT INDEX</A></TD></TR>
<TR><TD colspan="9"><A HREF="y31363exv4w5.htm">EX-4.5: ADR STOCK OPTION SCHEME, 2007</A></TD></TR>
<TR><TD colspan="9"><A HREF="y31363exv5w1.htm">EX-5.1: OPINION OF TALWAR, THAKORE & ASSOCIATES</A></TD></TR>
<TR><TD colspan="9"><A HREF="y31363exv23w1.htm">EX-23.1: CONSENT OF KPMG, INDIA</A></TD></TR>
</TABLE>
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<!-- link1 "PART I" -->
<DIV align="left"><A NAME="000"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART I</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The document(s) containing the information required in Part&nbsp;I of Form S-8 will be sent or
given to participating employees as specified in Rule&nbsp;428(b)(1) of the Securities Act of 1933, as
amended (the &#147;Securities Act&#148;). Such document(s) and the documents incorporated by reference
herein pursuant to Item&nbsp;3 of Part&nbsp;II hereof, taken together, constitute a prospectus that meets the
requirements of Section 10(a) of the Securities Act.
</DIV>

<!-- link2 "Item&nbsp;1. Plan Information" -->
<DIV align="left"><A NAME="001"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;1. Plan Information</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not required to be filed with the Securities and Exchange Commission (the &#147;Commission&#148;).
</DIV>

<!-- link2 "Item&nbsp;2. Registrant Information and Employee Plan Annual Information" -->
<DIV align="left"><A NAME="002"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;2. Registrant Information and Employee Plan Annual Information</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not required to be filed with the Commission.
</DIV>

<!-- link1 "PART II" -->
<DIV align="left"><A NAME="003"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART II</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

</DIV>
<!-- link2 "Item&nbsp;3. Incorporation of Documents by Reference" -->
<DIV align="left"><A NAME="004"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;3. Incorporation of Documents by Reference</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dr.&nbsp;Reddy&#146;s Laboratories Limited (the &#147;Registrant&#148; or the &#147;Company&#148;) hereby incorporates by
reference the following documents filed with the Commission pursuant to the Securities Exchange Act
of 1934, as amended (the &#147;Exchange Act&#148;).
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The annual report of the Registrant on Form 20-F for the fiscal year ended March
31, 2006, filed on October&nbsp;2, 2006.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) All reports filed by the Registrant pursuant to Section 13(a) or 15(d) of the
Exchange Act since April&nbsp;1, 2006.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The description of the Registrant&#146;s ordinary shares included in its registration
statement on Form F-1 under the Securities Act (Registration Number 333-13310), incorporated
by reference into its registration statement on Form 8-A (Registration Number 1-15182).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company also incorporates by reference all documents subsequently filed by it pursuant to
Sections&nbsp;13(a), 13(c) and 15(d) of the Exchange Act.
</DIV>

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<DIV align="left"><A NAME="005"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;4. Description of Securities</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not Applicable.
</DIV>

<!-- link2 "Item&nbsp;5. Interests of Named Experts and Counsel" -->
<DIV align="left"><A NAME="006"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;5. Interests of Named Experts and Counsel</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not Applicable.
</DIV>

<!-- link2 "Item&nbsp;6. Indemnification of Officers and Directors" -->
<DIV align="left"><A NAME="007"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;6. Indemnification of Officers and Directors</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under the Companies Act 1956, as amended (the &#147;Companies Act&#148;), any provision, whether
contained in the articles of association of a company or in any agreement, exempting any officer
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->-2-<!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">or director or indemnifying an officer against any liability which by law would otherwise with
the company or in any other instrument attach to him in respect of negligence, default,
misfeasance, breach of duty or trust, is void. A company may, however, indemnify an officer against
any liability incurred by him in defending any proceedings (whether criminal or civil) in which a
judgment is given in his favor. The Company has not, as of the date of this prospectus entered into
any indemnification agreements of this kind.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company&#146;s Articles of Association, as amended (the &#147;Articles&#148;) provide that, subject to
the provision of the Companies Act, the Company shall indemnify its officers and directors against
loss in defending any proceeding brought against them in their capacity as officers and directors,
if the indemnified officer or director receives judgment in his favor or is acquitted in such
proceeding. In addition, the Company&#146;s Articles provide that it shall indemnify its officers and
directors in connection with any application pursuant to Section&nbsp;633 of the Companies Act in which
relief is granted by the court.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The form of Underwriting Agreement filed as Exhibit&nbsp;1.1 to the Company&#146;s Form 6-K filed with
the Commission on November&nbsp;16, 2006 provides for indemnification of the Company and its officers
and directors.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has obtained directors and officers insurance providing indemnification for
certain of its directors, officers, affiliates, partners or employees for certain liabilities.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insofar as indemnification for liabilities arising under the Securities Act of 1934, as
amended, may be permitted to directors, officers or persons controlling the Company pursuant to the
foregoing provisions, the Company has been informed that in the opinion of the SEC such
indemnification is against public policy as expressed in the Securities Act and is therefore
unenforceable.
</DIV>

<!-- link2 "Item&nbsp;7. Exemption from Registration Claimed" -->
<DIV align="left"><A NAME="008"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;7. Exemption from Registration Claimed</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not Applicable.
</DIV>

<!-- link2 "Item&nbsp;8. Exhibits" -->
<DIV align="left"><A NAME="009"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;8. Exhibits</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;See Exhibit&nbsp;Index.
</DIV>

<!-- link2 "Item&nbsp;9. Undertakings" -->
<DIV align="left"><A NAME="010"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;9. Undertakings</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The Company hereby undertakes:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;To file, during any period in which offers or sales are being made, a post-effective
amendment to this Registration Statement (i)&nbsp;to include any prospectus required by Section&nbsp;10(a)(3)
of the Securities Act; (ii)&nbsp;to reflect in the prospectus any facts or events arising after the
effective date of this Registration Statement (or the most recent post-effective amendment thereof)
which, individually or in the aggregate, represent a fundamental change in the information set
forth in this Registration Statement; and (iii)&nbsp;to include any material information with respect to
the plan of distribution not previously disclosed in this Registration Statement or any material
change to such information in this Registration Statement; provided, however, that clauses (i)&nbsp;and
(ii)&nbsp;hereto do not apply if the information required to be included in a post-effective amendment
by clauses (i)&nbsp;and (ii)&nbsp;is contained in periodic reports filed with or furnished to the Commission
by the Company pursuant to Section&nbsp;13 or 15(d) of the Exchange Act that are incorporated by
reference in this Registration Statement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;That, for the purpose of determining any liability under the Securities Act, each such
post-effective amendment shall be deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at that time shall be deemed to be
the initial bona fide offering thereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;To remove from registration by means of a post-effective amendment any of the securities
being registered which remain unsold at the termination of the offering.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->-3-<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The Company hereby undertakes that, for the purpose of determining any liability under the
Securities Act, each filing of the Company&#146;s annual report pursuant to Section 13(a) or 15(d) of
the Exchange Act that is incorporated by reference in this Registration Statement shall be deemed
to be a new registration statement relating to the securities offered herein, and the offering of
securities at that time shall be deemed to be the initial bona fide offering thereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Insofar as indemnification for liabilities under the Securities Act may be permitted to
directors, officers and controlling persons of the Company pursuant to the foregoing provisions, or
otherwise, the Company has been advised that in the opinion of the Commission such indemnification
is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In
the event that a claim for indemnification against such liabilities (other than the payment by the
Company of expenses incurred or paid by a director, officer or controlling person of the Company in
the successful defense of any action, suit or proceeding) is asserted by such director, officer or
controlling person in connection with the securities being registered, the Company will, unless in
the opinion of its counsel the matter has been settled by controlling precedent, submit to a court
of appropriate jurisdiction the question whether such indemnification by it is against public
policy as expressed in the Securities Act and will be governed by the final adjudication of such
issue.
</DIV>


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</DIV>

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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">



<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="011"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, as amended, the registrant
certifies that it has reasonable grounds to believe that it meets all of the requirements for
filing on Form S-8 and has duly caused this registration statement or amendment thereof to be
signed on its behalf by the undersigned, thereunto duly authorized, in Hyderabad, India, on the 5th
day of March, 2007.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">DR. REDDY&#146;S LABORATORIES LIMITED<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ G.V. Prasad
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">G.V. Prasad&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Executive Vice Chairman and CEO&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">                                      /s/ Saumen Chakraborty
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Saumen Chakraborty&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Chief Financial Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio -->-5-<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>

</TABLE>
<!-- link1 "EXHIBIT INDEX" -->
<DIV align="left"><A NAME="012"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXHIBIT INDEX</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="46%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Exhibit No.</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Description of Exhibits</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Filed or Incorporated by Reference to</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Current Memorandum and Articles of
Association of Registrant.
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Previously filed with the SEC as
exhibit 3.1 to Form&nbsp;F-3ASR
Registration Statement 333-138608
filed on November&nbsp;13, 2006.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.2*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certificate of Incorporation of
Registrant dated February&nbsp;24, 1984.
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Previously filed on March&nbsp;26, 2001
with the SEC along with Form&nbsp;F-1,
previously filed with the Company&#146;s
Form&nbsp;20-F for the fiscal year ended
March&nbsp;31, 2003.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.3*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amended Certificate of Incorporation of
Registrant dated December&nbsp;6, 1985.
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Previously filed on March&nbsp;26, 2001
with the SEC along with Form&nbsp;F-1,
previously filed with the Company&#146;s
Form&nbsp;20-F for the fiscal year ended
March&nbsp;31, 2003.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.4*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Deposit Agreement, including the form
of American Depositary Receipt, among
Registrant, JPMorgan Chase Bank, N.A.
(fka Morgan Guaranty Trust Company of
New York), as Depositary, and holders
from time to time of American
Depositary Receipts issued there under,
including the form of American
Depositary.
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Previously filed as Exhibit (a)&nbsp;to
Registration Statement 333-13312. <br><br>

Form of Amendment No.&nbsp;1 to Deposit
Agreement was previously filed as
Exhibit (a) (2)&nbsp;to Post-Effective
Amendment to Registration Statement
No.&nbsp;333-13312.<br><br>
Form of Amendment No.&nbsp;2 to Deposit
Agreement, including the form of
ADR, is filed as Exhibit (a) (3)&nbsp;to
Registration Statement 333-138547.</TD>
</TR>

<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.5
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Dr. Reddy&#146;s Employees ADR Stock Option
Scheme, 2007
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Filed herewith.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">5.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Talwar, Thakore &#038;
Associates, Indian Counsel for the
Registrant, as to the legality of the
securities being registered.
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Filed herewith.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of KPMG, India (Independent
Registered Public Accounting Firm).
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Filed herewith.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Talwar, Thakore &#038; Associates.
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Included in Exhibit&nbsp;5.1 hereto.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">24
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Power of Attorney.
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Incorporated by reference to the
signature page to Form&nbsp;F-3ASR
Registration Statement 333-138608
filed on November&nbsp;13, 2006.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->-6-<!-- /Folio -->
</DIV>

</BODY>
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S-8
Table of Contents
As filed with the Securities and Exchange Commission on March 5, 2007
Registration No: 333-
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
DR. REDDY'S LABORATORIES LIMITED
(Exact name of Registrant as specified in its charter)
India
(State or other jurisdiction of
incorporation or organization)
Not Applicable
(IRS employer
identification number)
7-1-27 Ameerpet
Hyderabad, Andra Pradesh 500016
India
(Address of Principal Executive Offices)
Dr. Reddy's Employees ADR Stock Option Scheme, 2007
(Full title of the plan)
Dr. Reddy's Laboratories, Inc.
200 Somerset Corporate Boulevard (Bldg II)
Bridgewater, New Jersey 08807
(Name and address of agent for service)
(908) 203-4900
(Telephone number, including area code, of agent for service)
Copies of Communications to:
James F. Fitzsimmons, Esq.
Budd Larner, P.C .
150 John F. Kennedy Parkway
Short Hills, New Jersey 07078
CALCULATION OF THE REGISTRATION FEE
Proposed maximum
Proposed maximum
Title of securities
Amount to be
offering price
aggregate offering
Amount of
to be registered
registered
(1)
per share
(2)
price
(2)
registration fee
Equity shares of
Rs.5 par value, as
evidenced by American
depositary receipts
1,530,779
$
14.55
$
22,272,834.45
$
683.78
(1)
Based on 1,530,779 American depositary receipts ("ADRs") subject to issuance under the
Dr. Reddy's Employees ADR Stock Option Scheme, 2007 (the "2007 Plan"). Each ADR evidences one
American depositary share ("ADS") deliverable on deposit of equity shares, and each ADS
represents one equity share. Each underlying ADS will be registered under a separate
registration on Form F-6. This Registration Statement also covers such additional ADRs as may
be issuable under the 2007 Plan pursuant to anti-dilution provisions or any stock dividend,
stock split, recapitalization or similar transaction effected without the receipt of
consideration which results in an increase in the number of outstanding equity shares of the
Registrant.
(2)
Estimated solely for the purpose of calculating the amount of the registration fee pursuant
to Rule 457(h)(1) and Rule 457(c) under the Securities Act of 1933, as amended. Such estimate
has been computed based on the average of the high and low sales prices on the New York Stock
Exchange on March 1, 2007 for American Depository Receipts of Dr. Reddy's Laboratories
Limited.
This Registration Statement shall become effective upon filing in accordance with Section
462(a) under the Securities Act.
TABLE OF CONTENTS
PART I
Item 1. Plan Information
Item 2. Registrant Information and Employee Plan Annual Information
PART II
Item 3. Incorporation of Documents by Reference
Item 4. Description of Securities
Item 5. Interests of Named Experts and Counsel
Item 6. Indemnification of Officers and Directors
Item 7. Exemption from Registration Claimed
Item 8. Exhibits
Item 9. Undertakings
SIGNATURES
EXHIBIT INDEX
EX-4.5: ADR STOCK OPTION SCHEME, 2007
EX-5.1: OPINION OF TALWAR, THAKORE & ASSOCIATES
EX-23.1: CONSENT OF KPMG, INDIA
Table of Contents
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
The document(s) containing the information required in Part I of Form S-8 will be sent or
given to participating employees as specified in Rule 428(b)(1) of the Securities Act of 1933, as
amended (the "Securities Act"). Such document(s) and the documents incorporated by reference
herein pursuant to Item 3 of Part II hereof, taken together, constitute a prospectus that meets the
requirements of Section 10(a) of the Securities Act.
Item 1. Plan Information
Not required to be filed with the Securities and Exchange Commission (the "Commission").
Item 2. Registrant Information and Employee Plan Annual Information
Not required to be filed with the Commission.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference
Dr. Reddy's Laboratories Limited (the "Registrant" or the "Company") hereby incorporates by
reference the following documents filed with the Commission pursuant to the Securities Exchange Act
of 1934, as amended (the "Exchange Act").
(a) The annual report of the Registrant on Form 20-F for the fiscal year ended March
31, 2006, filed on October 2, 2006.
(b) All reports filed by the Registrant pursuant to Section 13(a) or 15(d) of the
Exchange Act since April 1, 2006.
(c) The description of the Registrant's ordinary shares included in its registration
statement on Form F-1 under the Securities Act (Registration Number 333-13310), incorporated
by reference into its registration statement on Form 8-A (Registration Number 1-15182).
The Company also incorporates by reference all documents subsequently filed by it pursuant to
Sections 13(a), 13(c) and 15(d) of the Exchange Act.
Item 4. Description of Securities
Not Applicable.
Item 5. Interests of Named Experts and Counsel
Not Applicable.
Item 6. Indemnification of Officers and Directors
Under the Companies Act 1956, as amended (the "Companies Act"), any provision, whether
contained in the articles of association of a company or in any agreement, exempting any officer
-2-
Table of Contents
or director or indemnifying an officer against any liability which by law would otherwise with
the company or in any other instrument attach to him in respect of negligence, default,
misfeasance, breach of duty or trust, is void. A company may, however, indemnify an officer against
any liability incurred by him in defending any proceedings (whether criminal or civil) in which a
judgment is given in his favor. The Company has not, as of the date of this prospectus entered into
any indemnification agreements of this kind.
The Company's Articles of Association, as amended (the "Articles") provide that, subject to
the provision of the Companies Act, the Company shall indemnify its officers and directors against
loss in defending any proceeding brought against them in their capacity as officers and directors,
if the indemnified officer or director receives judgment in his favor or is acquitted in such
proceeding. In addition, the Company's Articles provide that it shall indemnify its officers and
directors in connection with any application pursuant to Section 633 of the Companies Act in which
relief is granted by the court.
The form of Underwriting Agreement filed as Exhibit 1.1 to the Company's Form 6-K filed with
the Commission on November 16, 2006 provides for indemnification of the Company and its officers
and directors.
The Company has obtained directors and officers insurance providing indemnification for
certain of its directors, officers, affiliates, partners or employees for certain liabilities.
Insofar as indemnification for liabilities arising under the Securities Act of 1934, as
amended, may be permitted to directors, officers or persons controlling the Company pursuant to the
foregoing provisions, the Company has been informed that in the opinion of the SEC such
indemnification is against public policy as expressed in the Securities Act and is therefore
unenforceable.
Item 7. Exemption from Registration Claimed
Not Applicable.
Item 8. Exhibits
See Exhibit Index.
Item 9. Undertakings
(a) The Company hereby undertakes:
(1) To file, during any period in which offers or sales are being made, a post-effective
amendment to this Registration Statement (i) to include any prospectus required by Section 10(a)(3)
of the Securities Act; (ii) to reflect in the prospectus any facts or events arising after the
effective date of this Registration Statement (or the most recent post-effective amendment thereof)
which, individually or in the aggregate, represent a fundamental change in the information set
forth in this Registration Statement; and (iii) to include any material information with respect to
the plan of distribution not previously disclosed in this Registration Statement or any material
change to such information in this Registration Statement; provided, however, that clauses (i) and
(ii) hereto do not apply if the information required to be included in a post-effective amendment
by clauses (i) and (ii) is contained in periodic reports filed with or furnished to the Commission
by the Company pursuant to Section 13 or 15(d) of the Exchange Act that are incorporated by
reference in this Registration Statement.
(2) That, for the purpose of determining any liability under the Securities Act, each such
post-effective amendment shall be deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at that time shall be deemed to be
the initial bona fide offering thereof.
(3) To remove from registration by means of a post-effective amendment any of the securities
being registered which remain unsold at the termination of the offering.
-3-
Table of Contents
(b) The Company hereby undertakes that, for the purpose of determining any liability under the
Securities Act, each filing of the Company's annual report pursuant to Section 13(a) or 15(d) of
the Exchange Act that is incorporated by reference in this Registration Statement shall be deemed
to be a new registration statement relating to the securities offered herein, and the offering of
securities at that time shall be deemed to be the initial bona fide offering thereof.
(c) Insofar as indemnification for liabilities under the Securities Act may be permitted to
directors, officers and controlling persons of the Company pursuant to the foregoing provisions, or
otherwise, the Company has been advised that in the opinion of the Commission such indemnification
is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In
the event that a claim for indemnification against such liabilities (other than the payment by the
Company of expenses incurred or paid by a director, officer or controlling person of the Company in
the successful defense of any action, suit or proceeding) is asserted by such director, officer or
controlling person in connection with the securities being registered, the Company will, unless in
the opinion of its counsel the matter has been settled by controlling precedent, submit to a court
of appropriate jurisdiction the question whether such indemnification by it is against public
policy as expressed in the Securities Act and will be governed by the final adjudication of such
issue.
-4-
Table of Contents
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as amended, the registrant
certifies that it has reasonable grounds to believe that it meets all of the requirements for
filing on Form S-8 and has duly caused this registration statement or amendment thereof to be
signed on its behalf by the undersigned, thereunto duly authorized, in Hyderabad, India, on the 5th
day of March, 2007.
DR. REDDY'S LABORATORIES LIMITED
By:
/s/ G.V. Prasad
G.V. Prasad
Executive Vice Chairman and CEO
By:
/s/ Saumen Chakraborty
Saumen Chakraborty
Chief Financial Officer
-5-
Table of Contents
EXHIBIT INDEX
Exhibit No.
Description of Exhibits
Filed or Incorporated by Reference to
4.1*
Current Memorandum and Articles of
Association of Registrant.
Previously filed with the SEC as
exhibit 3.1 to Form F-3ASR
Registration Statement 333-138608
filed on November 13, 2006.
4.2*
Certificate of Incorporation of
Registrant dated February 24, 1984.
Previously filed on March 26, 2001
with the SEC along with Form F-1,
previously filed with the Company's
Form 20-F for the fiscal year ended
March 31, 2003.
4.3*
Amended Certificate of Incorporation of
Registrant dated December 6, 1985.
Previously filed on March 26, 2001
with the SEC along with Form F-1,
previously filed with the Company's
Form 20-F for the fiscal year ended
March 31, 2003.
4.4*
Deposit Agreement, including the form
of American Depositary Receipt, among
Registrant, JPMorgan Chase Bank, N.A.
(fka Morgan Guaranty Trust Company of
New York), as Depositary, and holders
from time to time of American
Depositary Receipts issued there under,
including the form of American
Depositary.
Previously filed as Exhibit (a) to
Registration Statement 333-13312.
Form of Amendment No. 1 to Deposit
Agreement was previously filed as
Exhibit (a) (2) to Post-Effective
Amendment to Registration Statement
No. 333-13312.
Form of Amendment No. 2 to Deposit
Agreement, including the form of
ADR, is filed as Exhibit (a) (3) to
Registration Statement 333-138547.
4.5
Dr. Reddy's Employees ADR Stock Option
Scheme, 2007
Filed herewith.
5.1
Opinion of Talwar, Thakore &
Associates, Indian Counsel for the
Registrant, as to the legality of the
securities being registered.
Filed herewith.
23.1
Consent of KPMG, India (Independent
Registered Public Accounting Firm).
Filed herewith.
23.3
Consent of Talwar, Thakore & Associates.
Included in Exhibit 5.1 hereto.
24
Power of Attorney.
Incorporated by reference to the
signature page to Form F-3ASR
Registration Statement 333-138608
filed on November 13, 2006.
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