SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
India Globalization Capital, Inc.
------------------------------------------------------
(Name of Issuer)
Common Stock, par value $0.0001 per share
------------------------------------------------------
(Title of Class of Securities)
45408X100
------------------------------------------------------
(CUSIP NUMBER)
September 5, 2006
------------------------------------------------------
(Date of event which requires filing of this statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
notes).
Page 1 of 14 Pages
CUSIP No. 45408X100 13G Page 2 of 14 Pages
-----------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
D.B. Zwirn & Co., L.P. 20-0597442
-----------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
-----------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-----------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES --------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
1,271,700
OWNED BY --------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING --------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
1,271,700
-----------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
1,271,700
-----------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
-----------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
9.10%
-----------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
PN
-----------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 45408X100 13G Page 3 of 14 Pages
-----------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
HCM/Z Special Opportunities LLC
-----------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
-----------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands, British West Indies
-----------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES --------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
135,900
OWNED BY --------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING --------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
135,900
-----------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
135,900
-----------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
-----------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.97%
-----------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
OO
-----------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 45408X100 13G Page 4 of 14 Pages
-----------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
D.B. Zwirn Special Opportunities Fund, Ltd.
-----------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
-----------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands, British West Indies
-----------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES --------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
725,898
OWNED BY --------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING --------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
725,898
-----------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
725,898
-----------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
-----------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.19%
-----------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
CO
-----------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 45408X100 13G Page 5 of 14 Pages
-----------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
D.B. Zwirn Special Opportunities Fund, L.P. 73-1637217
-----------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
-----------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-----------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES --------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
409,902
OWNED BY --------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING --------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
409,902
-----------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
409,902
-----------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
-----------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
2.93%
-----------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
PN
-----------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 45408X100 13G Page 6 of 14 Pages
-----------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
DBZ GP, LLC 42-1657316
-----------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
-----------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-----------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES --------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
1,271,700
OWNED BY --------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING --------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
1,271,700
-----------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
1,271,700
-----------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
-----------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
9.10%
-----------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
OO
-----------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 45408X100 13G Page 7 of 14 Pages
-----------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Zwirn Holdings, LLC 30-0080444
-----------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
-----------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-----------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES --------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
1,271,700
OWNED BY --------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING --------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
1,271,700
-----------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
1,271,700
-----------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
-----------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
9.10%
-----------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
OO
-----------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 45408X100 13G Page 8 of 14 Pages
-----------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Daniel B. Zwirn
-----------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
-----------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
-----------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES --------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
1,271,700
OWNED BY --------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING --------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
1,271,700
-----------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
1,271,700
-----------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
-----------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
9.10%
-----------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
IN
-----------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 45408X100 13G Page 9 of 14 Pages
Item 1.
(a) Name of Issuer
India Globalization Capital, Inc. (the "Issuer")
(b) Address of Issuer's Principal Executive Offices:
4336 Montgomery Ave.
Bethesda, MD 20814
Item 2(a). Name of Person Filing
Item 2(b). Address of Principal Business Office
Item 2(c). Citizenship
D.B. Zwirn & Co, L.P.
745 Fifth Avenue, 18th Floor
New York, NY 10151
Citizenship: Delaware
HCM/Z Special Opportunities LLC
P.O. Box 30554
Seven Mile Beach
Grand Cayman, Cayman Islands
British West Indies
Citizenship: Cayman Islands, British West Indies
D.B. Zwirn Special Opportunities Fund, L.P.
c/o D.B. Zwirn & Co., L.P.
745 Fifth Avenue, 18th Floor
New York, NY 10151
Citizenship: Delaware
D.B. Zwirn Special Opportunities Fund, Ltd.
c/o Goldman Sachs (Cayman) Trust, Limited
P.O. Box 896
George Town
Harbour Centre, 2nd Floor
Grand Cayman, Cayman Islands
British West Indies
Citizenship: Cayman Islands, British West Indies
DBZ GP, LLC
c/o D.B. Zwirn & Co., L.P.
745 Fifth Avenue, 18th Floor
New York, NY 10151
Citizenship: Delaware
Zwirn Holdings, LLC
c/o D.B. Zwirn & Co., L.P.
745 Fifth Avenue, 18th Floor
New York, NY 10151
Citizenship: Delaware
Daniel B. Zwirn
c/o D.B. Zwirn & Co., L.P.
745 Fifth Avenue, 18th Floor
CUSIP No. 45408X100 13G Page 10 of 14 Pages
New York, NY 10151
Citizenship: United States
(d) Title of Class of Securities
Common Shares, par value $0.0001 per share ("Shares")
(e) CUSIP Number
45408X100
Item 3. If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b), check
whether the person filing is a:
(a) [ ] Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o).
(b) [ ] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c).
(c) [ ] Insurance company as defined in Section 3(a)(19) of the Act (15
U.S.C. 78c).
(d) [ ] Investment company registered under Section 8 of the Investment
Company Act of 1940 (15 U.S.C. 80a-8).
(e) [ ] An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);
(f) [ ] An employee benefit plan or endowment fund in accordance with Rule
13d-1(b)(1)(ii)(F);
(g) [ ] A parent holding company or control person in accordance with Rule
13d-1(b)(1)(ii)(G);
(h) [ ] A savings association as defined in Section 3(b) of the Federal Deposit
Insurance Act (12 U.S.C. 1813);
(i) [ ] A church plan that is excluded from the definition of an investment
company under Section 3(c)(14) of the Investment Company Act of 1940 (15
U.S.C. 80a-3);
(j) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
If this statement is filed pursuant to Rule 13d-1(c), check this box. [x]
Item 4. Ownership
(a) Amount Beneficially Owned
As of the date of this filing, D.B. Zwirn & Co., L.P., DBZ GP, LLC, Zwirn
Holdings, LLC, and Daniel B. Zwirn may each be deemed the beneficial owner of
(i) 409,902 Shares owned by D.B. Zwirn Special Opportunities Fund, L.P., (ii)
725,898 Shares owned by D.B. Zwirn Special Opportunities Fund, Ltd. and (iii)
135,900 Shares owned by HCM/Z Special Opportunities LLC (each entity referred to
in (i) through (iii) is herein referred to as a "Fund" and, collectively, as the
"Funds").
D.B. Zwirn & Co., L.P. is the manager of each of the Funds, and
consequently has voting control and investment discretion over the Shares
held by each of the Funds. Daniel B. Zwirn is the managing member of and thereby
controls Zwirn Holdings, LLC, which in turn is the managing member of and
thereby controls DBZ GP, LLC, which in turn is the general partner of and
thereby controls D.B. Zwirn & Co., L.P. The foregoing should not be construed in
and of itself as an admission by any Reporting Person as to beneficial ownership
of Shares owned by another Reporting Person. In addition, each of D.B. Zwirn &
Co., L.P., DBZ GP, LLC, Zwirn Holdings, LLC, and Daniel B. Zwirn disclaims
beneficial ownership of the Shares held by the Funds.
CUSIP No. 45408X100 13G Page 11 of 14 Pages
(b) Percent of Class
Based upon the Issuer's quarterly report on form 10-QSB filed on August 21,
2006, there were 13,974,500 Shares outstanding as of August 11, 2006. Therefore,
(i) D.B. Zwirn Special Opportunities Fund, L.P. owns approximately 2.93% of the
outstanding Shares, (ii) D.B. Zwirn Special Opportunities Fund, Ltd. owns
approximately 5.19% of the outstanding Shares, (iii) HCM/Z Special Opportunities
LLC owns approximately 0.97% of the outstanding Shares and (iv) each of D.B.
Zwirn & Co., L.P., DBZ GP, LLC, Zwirn Holdings, LLC, and Daniel B. Zwirn may be
deemed to beneficially own 9.10% of the outstanding Shares. The foregoing should
not be construed in and of itself as an admission by any Reporting Person as to
beneficial ownership of Shares owned by another Reporting Person.
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote:
See Item 4(a)
(ii) Shared power to vote or to direct the vote
See Item 4(a)
(iii) Sole power to dispose or to direct the disposition of
See Item 4(a)
(iv) Shared power to dispose or to direct the disposition of
See Item 4(a)
Item 5. Ownership of Five Percent or Less of a Class
Not applicable.
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
Not applicable.
Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on By the Parent Holding Company
Not applicable.
Item 8. Identification and Classification of Members of the Group
See Exhibit I.
CUSIP No. 45408X100 13G Page 12 of 14 Pages
Item 9. Notice of Dissolution of Group
Not applicable
Item 10. Certification
By signing below each of the undersigned certifies that, to the best of its
knowledge and belief, the securities referred to above were not acquired and are
not held for the purpose of or with the effect of changing or influencing the
control of the issuer of the securities and were not acquired and are not held
in connection with or as a participant in any transaction having that purpose or
effect.
Exhibits:
Exhibit I: Joint Filing Agreement, dated as of September 27, 2006, by and among
D.B. Zwirn Special Opportunities Fund, L.P., D.B. Zwirn Special Opportunities
Fund, Ltd., HCM/Z Special Opportunities LLC, D.B. Zwirn & Co., L.P., DBZ GP,
LLC, Zwirn Holdings, LLC, and Daniel B. Zwirn.
CUSIP No. 45408X100 13G Page 13 of 14 Pages
SIGNATURE
After reasonable inquiry and to the best of its knowledge and belief, each of
the undersigned certifies that the information with respect to it set forth in
this statement is true, complete, and correct.
Dated: September 27, 2006
D.B. ZWIRN SPECIAL OPPORTUNITIES D.B. ZWIRN SPECIAL OPPORTUNITIES
FUND, L.P. FUND, LTD.
By: D.B. Zwirn & Co., L.P. By: D.B. Zwirn & Co., L.P.
By: DBZ GP, LLC, By: DBZ GP, LLC,
its General Partner its General Partner
By: Zwirn Holdings, LLC, By: Zwirn Holdings, LLC,
its Managing Member its Managing Member
By: /s/ Daniel B. Zwirn By: /s/ Daniel B. Zwirn
---------------------- ------------------------------
Name: Daniel B. Zwirn Name: Daniel B. Zwirn
Title: Managing Member Title: Managing Member
HCM/Z SPECIAL OPPORTUNITIES LLC D.B. ZWIRN & CO., L.P.
By: D.B. Zwirn & Co., L.P. By: DBZ GP, LLC,
By: DBZ GP, LLC, its General Partner
its General Partner By: Zwirn Holdings, LLC,
By: Zwirn Holdings, LLC, its Managing Member
its Managing Member
By: /s/ Daniel B. Zwirn By: /s/ Daniel B. Zwirn
---------------------- ------------------------------
Name: Daniel B. Zwirn Name: Daniel B. Zwirn
Title: Managing Member Title: Managing Member
DBZ GP, LLC ZWIRN HOLDINGS, LLC
By: Zwirn Holdings, LLC,
its Managing Member By: /s/ Daniel B. Zwirn
------------------------------
Name: Daniel B. Zwirn
By: /s/ Daniel B. Zwirn Title: Managing Member
-------------------------
Name: Daniel B. Zwirn
Title: Managing Member
/s/ Daniel B. Zwirn
-------------------------
DANIEL B. ZWIRN
CUSIP No. 45408X100 13G Page 14 of 14 Pages
EXHIBIT I
JOINT FILING AGREEMENT
This will confirm the agreement by and among the undersigned that the Schedule
13G filed with the Securities and Exchange Commission on or about the date
hereof with respect to the beneficial ownership by the undersigned of the common
stock of India Globalization Capital, Inc. is being filed, and all amendments
thereto will be filed, on behalf of each of the persons and entities named below
in accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as
amended. This Agreement may be executed in two or more counterparts, each of
which shall be deemed an original, but all of which together shall constitute
one and the same instrument.
Dated: September 27, 2006
D.B. ZWIRN SPECIAL OPPORTUNITIES D.B. ZWIRN SPECIAL OPPORTUNITIES
FUND, L.P. FUND, LTD.
By: D.B. Zwirn & Co., L.P. By: D.B. Zwirn & Co., L.P.
By: DBZ GP, LLC, By: DBZ GP, LLC,
its General Partner its General Partner
By: Zwirn Holdings, LLC, By: Zwirn Holdings, LLC,
its Managing Member its Managing Member
By: /s/ Daniel B. Zwirn By: /s/ Daniel B. Zwirn
---------------------- ------------------------------
Name: Daniel B. Zwirn Name: Daniel B. Zwirn
Title: Managing Member Title: Managing Member
HCM/Z SPECIAL OPPORTUNITIES LLC D.B. ZWIRN & CO., L.P.
By: D.B. Zwirn & Co., L.P. By: DBZ GP, LLC,
By: DBZ GP, LLC, its General Partner
its General Partner By: Zwirn Holdings, LLC,
By: Zwirn Holdings, LLC, its Managing Member
its Managing Member
By: /s/ Daniel B. Zwirn By: /s/ Daniel B. Zwirn
---------------------- ------------------------------
Name: Daniel B. Zwirn Name: Daniel B. Zwirn
Title: Managing Member Title: Managing Member
DBZ GP, LLC ZWIRN HOLDINGS, LLC
By: Zwirn Holdings, LLC,
its Managing Member By: /s/ Daniel B. Zwirn
------------------------------
Name: Daniel B. Zwirn
By: /s/ Daniel B. Zwirn Title: Managing Member
-------------------------
Name: Daniel B. Zwirn
Title: Managing Member
/s/ Daniel B. Zwirn
-------------------------
DANIEL B. ZWIRN