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Intrasoft Technologies Limited Regulatory Filings 2020
61690_rns_2020-07-06_6c174eee-bde3-4ebd-a699-64e9ad61e751.pdf
Regulatory Filings
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IntraSoft Technologies Limited
Regd. Office :502APrathamesh, Raghuvanshi Mills Compound, S.B. Marg, Lower Parel, Mumbai - 400013 T: +91-22-2491-2123 F:+91-22-2490-3123 E: [email protected] W:www.itlindia.com CIN :L24133MH1996PLC197857 Corp. Office : Suite 301, 145 Rash Behari Avenue, Kolkata - 700 029. Tel: +91-33-4023-1234 Fax: +91-33-2464-6584
July 06, 2020
Corporate Relationship Department Listing Department Fort, Mumbai Mumbai
BSE Limited National Stock Exchange of India Ltd P.J.Towers, Dalal Street, Exchange Plaza, Bandra Kurla Complex
Scrip code: 533181 / ISFT
Dear Sir,
Sub: Disclosure under Regulation 23(9) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
With reference to the captioned subject matter, we are enclosing herewith Related Party Transactions on a consolidated basis, in the format specified in the accounting standards for the year ended March 31, 2020.
This is for your information and records.
Yours faithfully, For IntraSoft Technologies Limite
MD !
Pranvesh Tripathi Company Secretary & Compliance Officer
INTRASOFT TECHNOLOGIES LIMITED
Related party disclosures
Standalone Statement
Information on related party transactions as required by Ind AS - 24 for the year ended 31 March 2020.
(a) List of related parties
(i) Parties where control exists (subsidiaries)
| INTRASOFT TECHNOLOGIES LIMITEDStandalone StatementRelated party disclosuresInformation on related party transactions as required by Ind AS - 24 for the year ended 31 March 2020.List of related partiesParties where control exists (subsidiaries)% of holding as on (direct/indirect)Name of the CompanyCountry of incorporation31 March 202031 March 2019Wholly owned subsidiaries100%- 123Greetings.com, Inc.100%United States100%100%- Intrasoft Ventures Pte. LimitedSingapore100%100%- One 'I'wo Three Greetings (India) Private LimitedIndiaStep-down subsidiaries:United States- 123Stores, Inc.100%100%- 123Stores E Commerce Private Limited100%100%IndiaKey management personnelName of the related partyRelationshipManaging DirectorArvind KajariaWhole-time DirectorSharad KajariaMohit Kumar JhaChief Financial OfficerNon-executive Independent DirectorAshok BhandariNon-executive Independent DirectorSavita AgarwalNon-executive Independent DirectorAnil AgrawalNon-executive Independent DirectorRupinder SinghCompany SecretaryPranvesh 'TripathiRelative of Key management personnelName of the related partyRelationshipPadma KajariaRelative of Director | |
|---|---|
(iii) Relative of Key management personnel Name of the related party Relationship
| Relative of Director |
|---|
| - Intrasoft Ventures Pte. Limited | Singapore | ||
|---|---|---|---|
| - One 'I'wo Three Greetings (India) Private Limited | India | 100% | 100% |
| Step-down subsidiaries: | |||
| - 123Stores, Inc. | United States | 100% | 100% |
| - 123Stores E Commerce Private Limited | India | 100% | 100% |
| Key management personnel | |||
| Name of the related party | Relationship | ||
| Arvind Kajaria | Managing Director | ||
| Sharad Kajaria | Whole-time Director | ||
| Mohit Kumar Jha | Chief Financial Officer | ||
| Ashok Bhandari | Non-executive Independent Director | ||
| Savita Agarwal | Non-executive Independent Director | ||
| Anil Agrawal | Non-executive Independent Director | ||
| Rupinder Singh | Non-executive Independent Director | ||
| Pranvesh 'Tripathi | Company Secretary | ||
| Relative of Key management personnel | |||
| Name of the related party | Relationship | ||
| Padma Kajaria | Relative of Director | ||
| Transactions with related parties | (Amount in Lacs) | ||
| 123Greetings.com, Inc. | Sale of services | 690.06 | 766.43 |
| One Two Three Greetings (India) Private Limited | Sale of services | - | - |
| Loans given repaid | 5.00 | - | |
| Arvind Kajaria | Managerial remuneration (#) | 72.11 | 72.11 |
| Dividend paid | 56.24 | 56.00 | |
| Sharad Kajaria | Managerial remuneration (#) | 67.61 | 67.61 |
| Dividend paid | 56.25 | 56.00 | |
| Padma Kajaria | Dividend paid | 28.00 | 28.00 |
| Mohit Kumar Jha | Remuneration | 39.38 | 36.58 |
| Short term employee benefits | 3:13 | 2.69 | |
| Post employment benefits | 4.25 | 3.02 | |
| Pranvesh Tripathi | Remuneration | 27.09 | 25.52 |
| Post employment benefits | 1.67 | 1.05 | |
| Mr. Anil Agrawal | Sitting fees | 2.20 | 3.00 |
| Mrs.Savita Agarwal | Sitting fees | 1.80 | 2.20 |
| Mr. Ashok Bhandari | Sitting fees | 1.60 | 3.00 |
| Mr.Rupinder Singh | Sitting fees | 2.20 | 3.00 |
| (#) This aforesaid amount does not includes amount in respect of gratuity and leave entitlement as the same is not determinable. | |||
| Balances of related parties | (Amount in Lacs) | ||
| As at | As at | ||
| Name of the party | Nature of balance | 31 March 2020 | 31 March 2019 |
| 123Greetings.com, Inc. | Receivable | 1.49 | 16.43 |
| One 'Two Three Greetings (India) Pvt. Limited | Payable | 267.37 | 267.37 |
| Loans recoverable | 70.00 | 75.00 | |
| Mr. Arvind Kajaria | Payable | 4.12 | 6.00 |
| Mr. Sharad Kajaria | Payable | 3.87 | 5.63 |
| Mr. Mohit Kumar Jha | Payable | 2.18 | 3.18 |
| Mr. Pranvesh Tripathi | Payable | 1.65 | 2.00 |
Balances of related parties
| Post employment benefits | 1.67 | 1.05 | |
|---|---|---|---|
| Mr. Anil Agrawal | Sitting fees | 2.20 | 3.00 |
| Mrs.Savita Agarwal | Sitting fees | 1.80 | 2.20 |
| Mr. Ashok Bhandari | Sitting fees | 1.60 | 3.00 |
| Mr.Rupinder Singh | Sitting fees | 2.20 | 3.00 |
| (#) This aforesaid amount does not includes amount in respect of gratuity and leave entitlement as the same is not determinable. | |||
| Balances of related parties | (Amount in Lacs) | ||
| Name of the party | Nature of balance | As at31 March 2020 | As at31 March 2019 |
| 123Greetings.com, Inc. | Receivable | 1.49 | 16.43 |
| One 'Two Three Greetings (India) Pvt. Limited | Payable | 267.37 | 267.37 |
| Loans recoverable | 70.00 | 75.00 | |
| Mr. Arvind Kajaria | Payable | 4.12 | 6.00 |
| Mr. Sharad Kajaria | Payable | 3.87 | 5.63 |
| Mr. Mohit Kumar Jha | Payable | 2.18 | 3.18 |
| Mr. Pranvesh Tripathi | Payable | 1.65 | 2.00 |
INTRASOFT TECHNOLOGIES LIMITED
Related party disclosures
Consolidated Statement
(a) List of related parties
| INTRASOFT TECHNOLOGIES LIMITEDConsolidated StatementRelated party disclosuresInformation on telated party transactions as required by Ind AS - 24 for the year ended 31 March 2020.List of related partiesKey management personnelName of the related partyRelationshipManaging DirectorArvind KajariaWhole-time DirectorSharad KajariaMohit Kumar JhaChief Financial OfficerAshok BhandariNon- executive Independent DirectorRupinder SinghNon- executive Independent DirectorSavita AgarwalNon- executive Independent DirectorAnil AgrawalNon- executive Independent DirectorCompany SecretaryPranvesh TripathiRelative of Key management personnelName of the related partyRelationshipPadma KajariaRelative of Director(Amount in Lacs)Transactions with related parties | ||||
|---|---|---|---|---|
(ii) Relative of Key management personnel
| Name of the related party | Relationship | ||
|---|---|---|---|
| Padma Kajaria | Relative of Director |
(b)
| INTRASOFT TECHNOLOGIES LIMITED | |||
|---|---|---|---|
| Related party disclosures | Consolidated Statement | ||
| Information on telated party transactions as required by Ind AS - 24 for the year ended 31 March 2020. | |||
| List of related parties | |||
| Key management personnel | |||
| Name of the related party | Relationship | ||
| Arvind Kajaria | Managing Director | ||
| Sharad Kajaria | Whole-time Director | ||
| Mohit Kumar Jha | Chief Financial Officer | ||
| Ashok Bhandari | Non- executive Independent Director | ||
| Rupinder Singh | Non- executive Independent Director | ||
| Savita Agarwal | Non- executive Independent Director | ||
| Anil Agrawal | Non- executive Independent Director | ||
| Pranvesh Tripathi | Company Secretary | ||
| Relative of Key management personnel | |||
| Name of the related party | Relationship | ||
| Padma Kajaria | Relative of Director | ||
| Transactions with related parties | (Amount in Lacs) | ||
| Mr. Arvind Kajaria | Managerial remuneration (#) | 7211 | 72A1 |
| Dividend paid | 56.24 | 56.00 | |
| Mr. Sharad Kajaria | Managerial remuneration (#) | 67.61 | 67.61 |
| Dividend paid | 56.25 | 56.00 | |
| Mrs. Padma Kajaria | Dividend paid | 28.00 | 28.00 |
| Mr. Mohit Kumar Jha | Remuneration | 39.38 | 36.58 |
| Short term employee benefits | 5.13 | 2,69 | |
| Post employment benefits | 4.25 | 3.02 | |
| Mr. Pranvesh 'I'ripathi | Remuneration | 27.09 | 25.52 |
| Post employment benefits | 1.67 | 1.05 | |
| Mr. Anil Agrawal | Sitting fees | 2.20 | 3.00 |
| Mrs.Savita Agarwal | Sitting fees | 1.80 | 2.20 |
| Mr. Ashok Bhandari | Sitting fees | 1.60 | 3.00 |
| Mr.Rupinder Singh | Sitting fees | 2.20 | 3.00 |
| (#) This aforesaid amount does not includes amount in respect of gratuity and leave entitlement as the same is not determinable. | |||
| Balances of related parties | (Amount in Lacs) | ||
| Name of the party | Nature of balance | As at31 March 2020 | As at31 March 2019 |
| Mr. Arvind Kajaria | Year-end payables | 4.12 | 6.00 |
| Mr. Sharad Kajaria | Year-end payables | 3.87 | 5.63 |
| Mr. Mohit Kumar Jha | Year-end payables | 2.18 | 3.18 |
| Mr. Pranvesh 'Tripathi | |||
| Year-end payables | 1.65 | 2.00 |
| Balances of related parties | (Amount in Lacs) | ||
|---|---|---|---|
| Name of the party | Nature of balance | As at31 March 2020 | As at31 March 2019 |
| Mr. Arvind Kajaria | Year-end payables | 4.12 | 6.00 |
| Mr. Sharad Kajaria | Year-end payables | 3.87 | 5.63 |
| Mr. Mohit Kumar Jha | Year-end payables | 2.18 | 3.18 |
| Mr. Pranvesh 'Tripathi | Year-end payables | 1.65 | 2.00 |