Hind Rectifiers Ltd. — Audit Report / Information 2021

Jul 2, 2021

Ref. No. HIRECT/SEC/2021-22/22 2nd July 2021

BSE Limited National Stock Exchange of India Rotunda Building, Limited Phiroz Jeejeebhoy Towers, "Exchange Plaza" 5th Floor, C-1, Block 'G' Dalal Street, Mumbai Bandra Kurla Complex, 400 001 Maharashtra Bandra (East) Mumbai 400 051

Security Code No. 504036/HIRECT Type of Security: Equity

Sub: Disclosure of Related Party Transactions pursuant to Regulation 23(9) of the SEBI Listing Regulations, ²⁰¹⁵

Dear Sir/ Madam,

In compliance with Regulation 23(9) of SEBI Listing Regulations, 2015, we hereby submit the Related Party Transactions, in accordance with the applicable accounting standards, for the half year ended March 31, 2021.

Kindly take the same on record.

Thanking you,

Yours Faithfully,

For Hind Rectifiers jimi '

Meenakshi Anchlia (Company Secretary & Compliance Officer)

Encl: As above

Perfectly Engineered Power Conversion Systems

HIND RECTIFIERS LIMITED

NOTE 58 : RELATED PARTY DISCLOSURES AS PER IND AS 24 & SEBILODR

I. List of related parties

A) Enterprise over which Members of the Board of Directors / KMP has significant influence Force Motion Technology LLP

B) Members of the Board of Directors / Key Management Personnel (KMP)

1. Chairman and Managing Director a) Mr. S K Nevatia (expired on 14th September 2020)

2. Executive Director a) Mrs. Akshada Nevatia

1. Managing Director and Chief Executive Officer a) Mr. Suramya Nevatia

4. Non Executive Director

i. Independent Non Executive Director

• a) Mr. Vijay Kumar Bhartia
• b) Mr. Pradeep Goyal

e) Ms. Ashlesha Bodas

• c) Mr. Parimal Merchant
• d) Mr. Binod Kumar Patodia (upto 6th November 2021)
• f) Mr. Vandan Shah (w.e.f. 10th February, 2021)

ii. Non Independent Non Executive Director

a) Mr. Pawan Golyan

b) Mr. Vandan Shah (upto 9th February, 2021)

5. Chief Financial Officer

a) Mr. Anil Kumar Nemani

6. Company Secretary

a) Ms. Meenakshi Anchlia

C. Relative of Member of Board of Directors / KMP

a) Mr. Saurabh Nevatia

b) Mrs. Bharti Nevatia

c) Mr. Suryansh Nevatia (appointed as management trainee w.e.f. 1st July 2020 & appointed as "Manager SCM" w.e.f. 1st March 2021 )

Note : Mr. S K Nevatia, Mrs. Akshada Nevatia, Mr. Suramya Nevatia, Mr. Saurabh Nevatia , Mrs. Bharti Nevatia and Mr. Suryansh Nevatia are related to each other.

HIND RECTIFIERS LIMITED

Il. Disclosure in respect of material transactions with related parties during the half year ended 31st March, 2021 Ent Members of the i 0 erpnise over Relative of which Members of Member of Board of Directors / S.No. Particulars the Board of Total Key Management Board of Directors / KMP has Personnel (KMP) Directors / KMP age significant influence Loan Received / Deposits received 1 Nil Loan Repaid / Deposits Given 2 Nil {Income 3 Sale Force Motion Technology 9.83 Expenditure 4 Remuneration i. Mr. S K Nevatia - Mrs. Akshada Nevatia 23.11 Mr. Suramya Nevatia 30.73 Mr. Saurabh Nevatia 45.14 Mrs. Bharti Nevatia 6.08 6.08 Mr.Suryansh Nevatia 1.16 Mr. Anil Kumar Nemani 16.74 Ms. Meenakshi Anchlia 4.80 {Directors Sitting Fees ii. Mr. Binod Kumar Patodia - - Mr. Parimal Merchant 1.75 Mr. Pawan Kumar Golyan 0.25 Mr. Pradeep Goyal 1.75 Mr. Vandan Shah 0.75 Mr. Vijay Kumar Bhartia 1.00 Ms. Ashlesha Bodas 0.50 Rent iii. Mr. Suramya Nevatia Mr. Saurabh Nevatia 2.10 Purchase iv. Force Motion Technology 147.97
			(Rs. In lakhs)
			9.83
			-
			23.11 30.73
			45.14
			1.16
			16.74
			4.80
			1.75
			0.25
			1.75
			0.75
			1.00
			0.50
			2.10
			147.97

	LIMITED
	lll. Balances Receivable / Payable with Related Parties				(Rs. in lakhs)
S.No.	Particulars	E ; nterprise over which Members of the Board of Directors / KMP has «eps significant influence	Members of the Board of Directors / Key Management Personnel (KMP) Directors / KMP	Relative of Member of Board of	Total
1	Trade Payables Force Motion Technology	42.31			42.31
2	Trade Receivables Force Motion Technology
3	Other Current Financial Liabilities Salary and Other Accrued Expenses Salary Payable to Mr. S K Nevatia		-		-
	Salary Payable to Mrs. Akshada Nevatia		2.79		2.79
	Salary Payable to Mr. Suramya Nevatia		3.47		3.47
	Salary Payable to Mr. Saurabh Nevatia			4.51	4.51
	Salary Payable to Mrs. Bharti Nevatia			0.82	0.82
	Salary Payable to Mrs. Suryansh Nevatia			0.58	0.58
	Salary Payable to Mr. Anil Nemani Salary Payable to Ms. Meenakshi Anchlia		1.95		1.95

Note: The remuneration to the related parties does not include the provisions made for gratuity and leave benefits, as they are determined on an actuarial basis for the Company as a whole. However the gratuity expenses of Mr.Suramya Nevatia and Mrs. Akshada Nevatia are included in the figure of their respective remuneration since their gratuity is provided separately.