- Amended Statement of Beneficial Ownership (3/A)

FORM 3	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES	OMB APPROVAL OMB Number: 3235-0104 Expires: February 28, 2011 Estimated average burden hours per response... 0.5
	Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

1. Name and Address of Reporting Person ^*

Value Holdings Capital S.A.

2. Date of Event Requiring Statement (MM/DD/YYYY) 5/12/2011

3. Issuer Name and Ticker or Trading Symbol

CHINA-BIOTICS, INC [CHBT]

(Last) (First) (Middle)

C/O HARNEY'S CORPORATE SERVICES LTD., CRAIGMUIR CHAMBERS, P.O. BOX 71

4. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director ___ X ___ 10% Owner
_____ Officer (give title below) _____ Other (specify below)

(Street)

ROAD TOWN, TORTOLA, D8 VG1110

(City) (State) (Zip)

5. If Amendment, Date Original Filed (MM/DD/YYYY)

5/19/2011

6. Individual or Joint/Group Filing (Check Applicable Line)

___ Form filed by One Reporting Person
_ X _ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	1536336	D
Common Stock	700814	I	See Footnote ⁽¹⁾

*Table II - Derivative Securities Beneficially Owned ( e.g.* , puts, calls, warrants, options, convertible securities)**
1. Title of Derivate Security (Instr. 4)	2. Date Exercisable and Expiration Date (MM/DD/YYYY)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivate Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security		6. Nature of Indirect Beneficial Ownership (Instr. 5)

Explanation of Responses:
( 1)	VALUE HOLDINGS CAPITAL, S.A. (WHICH DIRECTLY OWNS 1,536,336 SHARES) and VALUE ASSETS INTERNATIONAL, S.A. (WHICH DIRECTLY OWNS THE 700,814 SHARES) ARE WHOLLY OWNED AND CONTROLLED BY RICHARD E. AZAR. AS SUCH, HE MAY BE DEEMED THE INDIRECT BENEFICIAL OWNER OF THE COMMON SHARES OWNED DIRECTLY BY VALUE HOLDINGS CAPITAL, S. A. AND VALUE ASSETS INTERNATIONAL, S.A.

Reporting Owners
Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Value Holdings Capital S.A. C/O HARNEY'S CORPORATE SERVICES LTD. CRAIGMUIR CHAMBERS, P.O. BOX 71 ROAD TOWN, TORTOLA, D8 VG1110		X
Azar Richard Essa 7-9 ST. CLAIR PLACE, 2ND FLOOR ST. CLAIRE AVENUE PORT OF SPAIN, W5		X
Value Assets International, S.A. C/O HARNEY'S CORPORATE SERVICES LTD. CRAIGMUIR CHAMBERS, P.O. BOX 71 ROAD TOWN, TORTOLA, D8		X

Signatures
/s/ Allan Lerner Attorney-in-fact		5/20/2011
^** Signature of Reporting Person		Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note:	File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.