AXISCADES TECHNOLOGIES LIMITED — Annual Report 2021

Jul 10, 2021

10 July 2021

The Manager Dppt. Of Corporate Services BSE Limited Phirozee Jeejeebhoy Tower, Dalal Street Mumbai 400 001 BSE Scrip Code: 532395

Listing Department The National Stock Exchange of India Limited Exchange Plaza, 5 Floor, Plot C/1, G Block Bandra - Kurla Complex, Bandra(E), Mumbai 400 051 NSE Symbol: AXISCADES

Dear Sir/Madam,

Sub: Disclosure of Related Party Transactions on Consolidated basis for the period ended March 2021.

Pursuant to Regulation 23(9) of Securities and Exchange Board of India (Listing Obligations and Disclosures Requirements) Regulations, 2015, as amended, please find enclosed herewith disclosure of Related Party Transactions on a consolidated basis for the period ended March 31, 2021.

Yours faithfully,

For AXISCADES Technologies Limited

eta Ajeura

Shweta Agrawal Company Secretary

AXISCADES Technologies Limited

(Formerly AXISCADES Engineering Technologies Limited) CIN No.: L72200KA1990PLC084435

Reg. Office: Block C, Second Floor, Kirloskar Business Park, Bengaluru - 560024, Karnataka, INDIA Ph: +91 80 4193 9000 | Fax: +91 80 4193 9099 | Email: info@axiscades.in | www.axiscades.in

AXISCADES Technologies Limited

Consolidated Financial Statements

Notes to Consolidated Financial Statements for the year ended 31 March 2021

(All amounts in ₹ lakhs, unless otherwise stated)

36	Related party disclosures
I	Nature of relationshipParties where control exists:Holding Company	Name of Party
		Jupiter Capital Private Limited ('JCPL') *
	March 2020: 67.95 percent) (refer note IV (b))	* JCPL and its subsidiaries i.e.,Tayana Digital Private Limited and Indian Aero Ventures Private Limited hold 67.95 percent voting rights of the Company as at 31 March 2021 (31
	Associate	ASSYSTEMS AXISCADES Engineering Private Limited
II	Name of other related parties as per Ind AS 24 with whom transactions have taken place during the year:Fellow subsidiary	Indian Aero Ventures Private Limited ("IAVPL") (subsidiary of JCPL)Indian Aero Infrastructure Private Limited (Stepdown subsidiary of JCPL)Hindusthan Infrastructure Projects & Engineering Private Limited ( subsidiary of JCPL)
	Key Management Personnel (KMP):
	Chief Executive Officer & Executive Director	Mr. Sharadhi Chandra Babupampapathy
	Chairman and Independent Director	Mr. Vivek Mansingh (stepped down as chairman w.e.f 31 May 2019 and term completed on 8September 2019)
	Chairman and Non - Executive Director	Mr. David Bradley (appointed w.e.f 5 March 2019 and as Chairman w.e.f 31 May 2019)
	Independent Director	Mr. Kailash Mohan Rustagi (till 29 September, 2020)
	Independent Director	Mr. Pradeep Dadlani (till 29 September, 2020)
	Independent Director	Mr. Srinath Batni (till 8 September, 2019)
	Independent Director	Mrs. Mariam Mathew
	Independent Director	Mr. Desh Raj Dogra (appointed w.e.f. 29 September 2020)
	Independent Director	Mr. Dhiraj Mathur (appointed w.e.f. 29 September 2020)
	Non - Executive Director	Mr. Sudhakar Gande
	Non - Executive Director	Mr. Ashwani Kumar Dutta (resigned w.e.f. 29 August 2019)
	Non - Executive Director	Mr. Ajay Lakothia (appointed on 02 february 2019 and resigned on 30 March 2020)Mr. Harold David Walker (appointed w.e.f. 29 June 2020)
	Non - Executive DirectorExecutive Director	Mr. Anees Ahmed (resigned w.e.f 21 August, 2019)

III Additional related parties as per Companies Act, 2013 with whom transactions have taken place during the year

Key Management Personnel (KMP):
Chief Financial Officer (CFO)	Mr. Anumanchipalli Srinivas (appointed w.e.f 7 June, 2019)
Chief Financial Officer (CFO)	Mr. Kaushik Sarkar (resigned w.e.f 7 June, 2019)
Company Secretary	Ms.Shweta Agarwal
Company in which Director is Interested	Inkers Technology Private Limited

IV Transactions with related parties:

Nature of transactions	Relationship	Year ended	Year ended
		31 March 2021	31 March 2020
Remuneration (Refer note (IV) (a) below)Mr. Kaushik Sarkar	Key management personnel	-	39.97
Ms. Shweta Agrawal (refer note c below)	Key management personnel	25.60	30.31
Mr. Anumanchipalli Srinivas (refer note c and d below)	Key management personnel	314.57	123.65
Mr. Anees Ahmed (March 31, 2020: ₹ 5 remuneration)	Key management personnel	-	0.00
Mr. Sharadhi Chandra Babupampapathy (refer note c below)	Key management personnel	119.06	128.08
Service received from (intangible assets under development)Inkers Technology Private Limited	Company in which a Director is Interested	-	25.00
Revenue from operations
ASSYSTEMS AXISCADES Engineering Private Limited	Associate	63.60	86.83
Sitting fees paid to directors
Mr. Vivek Mansingh	Chairman and Independent Director	-	4.00
Mr. Kailash Mohan Rustagi	Independent Director	5.00	15.00
Mr. Pradeep Dadlani	Independent Director	7.00	13.00
Mr. Srinath Batni	Independent Director	-	8.00
Mrs. Mariam Mathew	Independent Director	8.00	7.00
Mr. David Bradley	Chairman and Non - Executive Director	3.00	2.40
Mr. Ashwani Kumar Dutta	Non - Executive Director	-	1.80
Mr. Dhiraj Mathur	Independent Director	3.00	-
Mr. Desh Raj Dogra	Independent Director	4.00	-
Mr.Sudhakar Gande	Non - Executive Director	2.40	2.70
Mr.Harold David Walker	Non - Executive Director	0.90	-
Mr.Ajay Lakhotia	Non - Executive Director	-	1.80
Reimbursement of Expenses incurred on behalf of related party
ASSYSTEMS AXISCADES Engineering Private Limited	Associate	65.14	45.60
Intercorporate deposits received
Hindusthan Infrastructure Projects & Engineering Private Limited	Fellow subsidiary	-	500.00
Jupiter Capital Private Limited	Holding Company	-	100.00
Intercorporate deposits repaid
Jupiter Capital Private Limited	Holding Company	-	100.00
Hindusthan Infrastructure Projects & Engineering Private Limited	Fellow subsidiary	500.00	-
Liability written back during the year
Indian Aero Ventures Private Limited	Fellow subsidiary	27.82	-
Interest expense on Inter corporate depositsJupiter Capital Private LimitedHindusthan Infrastructure Projects & Engineering Private Limited	Holding CompanyFellow subsidiary	-49.87	0.3021.55

AXISCADES Technologies Limited

Consolidated Financial Statements

Notes to Consolidated Financial Statements for the year ended 31 March 2021

(All amounts in ₹ lakhs, unless otherwise stated)

Related party disclosures (cont'd)

(a) As the future liability for gratuity is provided on an actuarial basis for the Group as a whole, the amount pertaining to individual is not ascertainable and therefore not include above.

• (b) Tayana Digital Private Limited, is merged with Jupiter Capital Private Limited with effect from October 17, 2018. However, it is to be noted that underlying shares in the depositories are still held in the name of Tayana Digital Private Limited, hence the details of shares held by the holding Company and subsidiaries of holding Company contains the information of Tayana Digital Private Limited.
• (c) Total employee benefit expense includes employee stock compensation expense of ₹ 28.25 Lakhs (March 31, 2020 - ₹ 14.66 Lakhs) for Mr. Anumanchipalli Srinivas, ₹ 28.25 Lakhs (March 31, 2020 - ₹ 14.66 Lakhs) for Mr. Sharadhi Chandra Babupampapathy and ₹ 1.45 Lakhs (March 31, 2020 - ₹ 3.50 Lakhs) for Ms. Shweta Agrawal respectively.
• (d) Includes incentive of ₹ 150 lakhs paid by AXISCADES Aerospace & Technologies Private Limited ('ACAT'), subsidary of the Company, for the services rendered to ACAT.

V Balances as at the year end:

Nature of transactions	Relationship	As at	As at
		31 March 2021	31 March 2020
Interest payableHindusthan Infrastructure Projects & Engineering Private Limited	Fellow subsidiary	-	19.52
Remuneration payable (refer note (IV) (a) above)Ms. Shweta AgrawalMr. Anumanchipalli SrinivasMr. Sharadhi Chandra Babupampapathy	Key management personnelKey management personnelKey management personnel	4.7267.3535.37	2.0036.8644.37
Other receivableJupiter Capital Private LimitedASSYSTEMS AXISCADES Engineering Private Limited	Holding CompanyAssociate	-19.27	10.3823.14
Investment in Equity SharesASSYSTEMS AXISCADES Engineering Private Limited	Associate	233.23	188.47
Trade payablesIndian Aero Infrastructure Private Limited	Fellow subsidiary	6.23	6.23
Capital creditorsInkers Technology Private Limited	Company in which a Director is Interested	-	2.50
Trade ReceivableASSYSTEMS AXISCADES Engineering Private Limited	Associate	18.40	19.09
Inter corporate depositHindusthan Infrastructure Projects & Engineering Private Limited	Fellow subsidiary	-	500.00
Advances fromIndian Aero Ventures Private Limited	Fellow subsidiary	-	27.82

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