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InterGlobe Aviation Limited Interim / Quarterly Report 2021
61901_rns_2020-11-26_f96f8f75-b372-461f-b7b3-ec2413b43b4f.pdf
Interim / Quarterly Report
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November 26, 2020 IGAL/SECT/11-20/10
To National Stock Exchange of India Limited Exchange Plaza, C - 1, Block G Bandra Kurla Complex Bandra - (E) Mumbai - 400 051 Symbol: INDIGO
To Department of Corporate Services BSE Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai - 400 001 Scrip Code: 539448
Dear Sir / Madam,
Sub : Disclosure under Regulation 23(9) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Pursuant to the Regulation 23(9) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations"), we are submitting herewith the disclosure of Related Party Transactions on a consolidated basis, in the format specified in the relevant accounting standards for the half year ended September 30, 2020.
You are requested to kindly take the above information on record.
Thanking you,
For InterGlobe Aviation Limited
SANJAY KUMAR GUPTA Digitally signed by SANJAY KUMAR GUPTA Date: 2020.11.26 19:31:05 +05'30'
Sanjay Gupta Company Secretary and Chief Compliance Officer
InterGlobe Aviation Limited
Registered Office: Upper Ground Floor, Thapar House, Gate No. 2, Western Wing, 124 Janpath, New Delhi – 110001, India. M +91 9650098905, F + 91 11 43513200 Email: [email protected]
Related party disclosures as per Ind AS 24 for the half year ended 30 September 2020
a. List of related parties and nature of relationship where control exists:
Agile Airport Services Private Limited (wholly owned subsidiary)
b. List of related parties and nature of relationship with whom transactions have taken place during the current / previous half year
(i) Entity/ person with direct or indirect significant influence over the Group
InterGlobe Enterprises Private Limited Ms. Shobha Gangwal - Wife of Mr. Rakesh Gangwal
(ii) Key managerial personnel of the Group and their close family members
- Mr. Rahul Bhatia Director Ms. Rohini Bhatia – Director
- Mr. Rakesh Gangwal Director
- Dr. Anupam Khanna Independent Director
- Ms. Pallavi Shardul Shroff– Independent Woman Director (with effect from 19 September 2019)
- Mr. Anil Parashar Non-executive director
- Ms. Ritu Parashar Wife of Mr. Anil Parashar
- Mr. Meleveetil Damodaran Independent Director and Chairman of the Board
- Mr. Ronojoy Dutta Whole Time Director & Chief Executive Officer (with effect from 27 January 2020) (Chief Executive Officer till 26 January 2020)
- Dr. Asha Mukherjee Sister of Mr. Rakesh Gangwal
- Mr. Kapil Bhatia Father of Mr. Rahul Bhatia
- Mr. Alok Mehta Brother of Ms. Rohini Bhatia
- Mr. Rohit Philip Chief Financial Officer (till 15 September 2019)
- Mr. Aditya Pande Chief Financial Officer (with effect from 16 September 2019)
- Mr. Sanjay Gupta Company Secretary and Chief Compliance Officer
- Dr. Venkataramani Sumantran Independent Director (with effect from 28 May 2020)
(iii) Other related parties - Entities which are joint ventures or subsidiaries or where control/ significant influence exists of parties as given in (a) or (b)(i), (b)(ii) and (b)(iii) above
InterGlobe Air Transport Limited InterGlobe Hotels Private Limited CAE Simulation Training Private Limited The Chinkerpoo Family Trust (Trustee: Ms. Shobha Gangwal & J.P.Morgan Trust Company of Delaware) Caddie Hotels Private Limited InterGlobe Real Estate Ventures Private Limited InterGlobe Business Solutions Private Limited InterGlobe Air Transport Limited W.L.L. InterGlobe Education Services Limited Shardul Amarchand Mangaldas & Co. (with effect from 19 September 2019)
c. Transactions with related parties during the current / previous half year:
| S. No. | Particulars | For the half year ended30 September 2020 | For the half year ended30 September 2019 |
|---|---|---|---|
| (Rupees in millions) | (Rupees in millions) | ||
| (i) | Rent | ||
| InterGlobe Air Transport Limited | 0.14 | 0.93 | |
| InterGlobe Enterprises Private Limited | - | 28.50 | |
| InterGlobe Real Estate Ventures Private Limited | - | 16.93 | |
| (ii) | Commission | ||
| InterGlobe Air Transport Limited | - | 134.34 | |
| InterGlobe Air Transport Limited W.L.L.* | 45.99 | 53.83 | |
| *The Company has received or due to receive remittances of Rs. 833.96 (previous period Rs. 3,092.61) for the sale of passengertickets through the agent for which the above commission was paid or payable. | |||
| (iii) | Crew accommodation and transportation | ||
| InterGlobe Hotels Private Limited | 1.80 | 54.69 | |
| Caddie Hotels Private Limited | 3.29 | 47.88 | |
| (iv) | Training | ||
| CAE Simulation Training Private Limited | 110.76 | 612.56 | |
| (v) | Operating cost of software | ||
| InterGlobe Business Solutions Private Limited | - | 28.40 | |
| (vi) | Repairs and maintenance | ||
| InterGlobe Air Transport Limited | - | 0.15 | |
| InterGlobe Real Estate Ventures Private Limited | 9.32 | 7.20 |
| (vii) | Miscellaneous income | ||
|---|---|---|---|
| CAE Simulation Training Private Limited | 0.01 | 0.73 | |
| InterGlobe Education Services Limited | - | 1.47 | |
| InterGlobe Air Transport Limited | - | 0.55 | |
| (viii) | Reimbursement for expenses paid | ||
| InterGlobe Air Transport Limited W.L.L. | 5.65 | 5.59 | |
| (ix) | Miscellaneous expenses | ||
| InterGlobe Air Transport Limited** | 0.00 | 0.04 | |
| InterGlobe Real Estate Ventures Private Limited | 4.88 | 6.67 | |
| ** Amount in absolute terms is Rs. 4,720 during the half year ended 30 September 2020 | |||
| (x) | Compensation to key managerial personnel | ||
| Short-term employee benefits | 48.18 | 533.66 | |
| Post-employment benefits | 4.39 | 2.66 | |
| Share-based payment*** | 6.04 | - | |
| Other long-term benefits | 8.18 | 4.34 | |
| *** Excludes a reversal of employee stock option scheme expenses of Rs. 138.75 during half year ended 30 September 2019 | |||
| towards forfeiture of employee stock options granted. | |||
| (xi) | Sitting fees and commission**** | ||
| Mr. Rahul Bhatia | 0.70 | 0.60 | |
| Ms. Rohini Bhatia | 1.10 | 1.00 | |
| Mr. Rakesh Gangwal | 0.70 | 0.60 | |
| Dr. Anupam Khanna | 1.60 | 1.90 | |
| Mr. Anil Parashar | 1.90 | 1.90 | |
| Mr. Meleveetil Damodaran | 1.30 | 1.30 | |
| Ms. Pallavi Shardul Shroff | 0.90 | - | |
| Dr. Venkataramani Sumantran | 1.20 | - | |
| **** Excludes applicable taxes | |||
| (xii) | Security deposit paid | ||
| InterGlobe Real Estate Ventures Private Limited | 0.02 | 24.72 | |
| InterGlobe Enterprises Private Limited | - | 26.06 | |
| (xiii) | Legal expenses | ||
| Shardul Amarchand Mangaldas & Co. | 0.90 | - | |
| (xiv) | Depreciation under Ind AS 116****** | ||
| InterGlobe Enterprises Private Limted | 20.37 | - | |
| InterGlobe Air Transport Limited | 0.12 | - | |
| InterGlobe Real Estate Ventures Private Limited | 12.83 | - | |
| CAE Simulation Training Private Limited | 319.06 | - | |
| (xv) | Interest under Ind AS 116****** | ||
| InterGlobe Enterprises Private LimtedInterGlobe Air Transport Limited | 15.130.03 | -- | |
| InterGlobe Real Estate Ventures Private Limited | 9.31 | - | |
| CAE Simulation Training Private Limited | 169.93 | - | |
| ****** Represents expense recognised as per Ind AS 116. Lease payments in respect of above parties for the half year ended 30September 2020 is amounting to Rs 315.45. | |||
| (xvi) | Final dividend paidMr. Kapil Bhatia | - | 0.25 |
| Mr. Rahul Bhatia | - | 0.20 | |
| Ms. Rohini Bhatia | - | 0.05 | |
| Mr. Rakesh GangwalMs. Shobha Gangwal | -- | 282.11161.55 | |
| Dr. Asha Mukherjee | - | 6.25 | |
| The Chinkerpoo Family Trust (Trustee: Ms. Shobha Gangwal & J.P.Morgan Trust Company of Delaware) | - | 261.32 | |
| Mr. Alok Mehta#Ms. Ritu Parashar | -- | 0.000.01 | |
| InterGlobe Enterprises Private Limited | - | 728.53 | |
| # During half year ended 30 September 2019, amount in absolute terms is Rs. 1,275. | |||
| (xvii) | Purchase of property, plant and equipment, capital work-in-progress, intangible assets and other assets | ||
| InterGlobe Business Solutions Private Limited | - | 58.56 |
d. Outstanding balances
| S. No. | Particulars | As at | As at |
|---|---|---|---|
| 30 September 2020 | 30 September 2019 | ||
| (i) | Payables | ||
| InterGlobe Air Transport Limited | 0.15 | 46.85 | |
| InterGlobe Hotels Private Limited | 1.80 | 15.18 | |
| Caddie Hotels Private Limited | 2.26 | 16.00 | |
| CAE Simulation Training Private Limited | 30.50 | 48.50 | |
| InterGlobe Real Estate Ventures Private Limited | 0.84 | 3.55 | |
| Shardul Amarchand Mangaldas & Co. | 0.93 | - | |
| InterGlobe Business Solutions Private Limited | - | 17.27 | |
| Key managerial personnel | 88.14 | 59.17 | |
| (ii) | Receivables - (Including general sales agent (GSA)) | ||
| InterGlobe Air Transport Limited W.L.L | 30.44 | 210.76 | |
| InterGlobe Air Transport Limited | - | 0.01 | |
| (iii) | Security deposits - Receivable | ||
| InterGlobe Real Estate Ventures Private Limited | 25.19 | 25.15 | |
| InterGlobe Enterprises Private Limited | 26.06 | 26.06 | |
| (iv) | Lease liabilities | ||
| CAE Simulation Training Private Limited | 5,291.55 | - | |
| InterGlobe Enterprises Private Limted | 333.33 | - | |
| InterGlobe Real Estate Ventures Private Limited | 204.92 | - | |
| InterGlobe Air Transport Limited | 0.01 | - | |
| (v) | Advance to employees | ||
| Key managerial personnel | - | 16.06 | |
e. Terms and Conditions
All transactions with related parties are made on terms equivalent to those that prevail in arm's length transactions and within the ordinary course of business. Outstanding balances at the period end are unsecured and settlement occurs in cash. Transactions relating to dividend, subscriptions for new equity shares are on the same terms and conditions that are offered to other shareholders.