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JASH ENGINEERING LIMITED Regulatory Filings 2020
59194_rns_2020-07-24_0cfb7a82-94f3-44ab-ab29-f9e8d66298c4.pdf
Regulatory Filings
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ENGINEERING LTD. Unit-1: CAST PRODUCTS PLANT, 31, Sector 'C' Industrial Area, Sanwer Road, Indore-452 015 (M.P.) Phone: +91-731-2720143, 6732700
24th July 2020
The Manager Listing Department National Stock Exchange of India Limited Bandra Kurla Complex, Bandra (East) Mumbai - 400 051
Dear Sir/Ma'am,
Subject: Submission of Disclosure under Regulation 23(9) of SEBI (LODR) Regulations, 2015 regarding disclosure of Related Party Transaction for the year ended 31st March 2020
Symbol: JASH
Pursuant to Regulation 23(9) of the SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015, as amended from time to time, we are pleased to submit the disclosure of related party transactions consolidated basis for the year ended 31st March 2020.
Kindly take the aforementioned information on records.
Thanking You, Yours Faithfully, For JASH Engineering Limited
Regd. Office: 31, Sector 'C' Industrial Area, Sanwer Road, Indore - 452 015 (M.P.) India Phone: +91 731 2720143. Fax: +91 731 2720499, E-mail: [email protected], Website: www.jashindia.com CIN: L28910MP1973PLC001226, GSTIN: 23AAACJ7699F1ZC
Jash Engineering Limited
Related party transactions for the year ended 31 March 2020 (All amount in INR lakhs unless stated otherwise) Related party disclosures is as under:
(i) Key management personnel
Mr. L.D. Amin, Chairman and Managing Director (till 31 March 2020) Mr. Pratik Patel, Managing Director Mr. Axel Schutte, Director Mr. Suresh Patel, Director (w.e.f 14 February 2020) Mr. Brij Mohan Maheshwari, Independent Director Mr. Sunil Kumar Choksi, Independent Director Mr. Vishwapati Trivedi, Independent Director Ms. Sunita Kishnani, Independent Director Mr. DT Manwani, Independent Director Mr. Dharmendra Jain CFO Mr. Tushar Kharpade Company Secretary (ii) Relatives of key managerial personnel with whom there are transactions/balances during the year Mrs. Bhairavi Patel (wife of Mr. Pratik Patel) Mr. Harsh Patel (son of Mr. Pratik Patel) Mrs. Swati Desai (sister of Mr. Pratik Patel) Mr. Tarang Amin (brother-in law of Mr. Pratik Patel) Mr. Rasesh Amin (son of Mr. L. D. Amin) (till 31 March 2020) Ms. Avani Vipul Patel (daughter of Mr. L. D. Amin) (till 31 March 2020)
(iii) Entities in which key management personnel/director is having significant influence/interested with whom there are transactions/balances during the year Patamin Investments Private Limited Jash Precision Tools Limited Micro Flat Datums Private Limited Jash Flowcon Engineers (a partnership firm) L. D. Amin HUF (till 31 March 2020)
| Managerial remunerationPratik PatelL.D. AminSuresh PatelSale of goods | 31 March 2020122.0567.8450.054.16$\overline{\phantom{a}}$ | 31 March 2019100.9954.6546.34 | 31 March 2020$\blacksquare$$\overline{\phantom{a}}$ | 31 March 2019$\blacksquare$ | 31 March 2020122.05 | 31 March 2019 |
|---|---|---|---|---|---|---|
| 100.99 | ||||||
| $\tilde{\phantom{a}}$ | 67.84 | 54.65 | ||||
| $\overline{\phantom{a}}$ | 50.05 | 46.34 | ||||
| $\overline{\phantom{a}}$ | $\overline{\phantom{a}}$ | $\frac{1}{2}$ | 4.16 | $\sim$ | ||
| $\overline{\phantom{a}}$ | 266.37 | 568.08 | 266.37 | 568.08 | ||
| ash Precision Tools Limited | $\overline{\phantom{a}}$ | $\overline{\phantom{a}}$ | 265.23 | 551.69 | 265.23 | 551.69 |
| Micro Flat Datums Private Limited | $\overline{\phantom{a}}$ | $\omega$ | 1.14 | 16.39 | 1.14 | 16.39 |
| Purchase of goods | $\overline{\phantom{a}}$ | $\blacksquare$ | 130.39 | |||
| Jash Precision Tools Limited | 84.01 | 130.39 | 84.01 | |||
| Micro Flat Datums Private Limited | $\overline{\phantom{a}}$ | $\overline{\phantom{a}}$ | 5.15 | 5.15 | ||
| $\overline{\phantom{a}}$ | $\sim$ | 125.24 | 84.01 | 125.24 | 84.01 | |
| Job work charges and labour charges | $\overline{\phantom{a}}$ | $\blacksquare$ | 182.16 | 248.68 | 182.16 | 248.68 |
| Jash Precision Tools Limited | $\overline{\phantom{a}}$ | $\overline{\phantom{a}}$ | 61.65 | 150.34 | 61.65 | 150.34 |
| Jash Flowcon Engineers | $\overline{\phantom{a}}$ | $\overline{\phantom{a}}$ | 120.32 | 97.34 | 120.32 | 97.34 |
| Micro Flat Datums Private Limited | $\sim$ | $\sim$ | 0.19 | 1.00 | 0.19 | 1.00$\sim$ |
| Dividend for the year (excluding dividend distribution tax) | 140.32 | 44.45 | 12.09 | 4.03 | 152.41 | 48.48 |
| Interest expense | $\overline{\phantom{a}}$ | 0.45 | 53.10 | 36.73 | 53.10 | 37.18 |
| Pratik Patel | $\overline{\phantom{a}}$ | 0.45 | 0.45 | |||
| Patamin Investments Private Limited* | $\blacksquare$ | $\sim$ | 53.10 | 36.73 | 53.10 | 36.73 |
| Lease payments | $\qquad \qquad \blacksquare$ | $\blacksquare$ | 60.00 | 42.00 | 60.00 | 42.00 |
| Patamin Investments Private Limited | $\overline{\phantom{a}}$ | 60.00 | 42.00 | 60.00 | 42.00 | |
| Expenses incurred by Company on behalf of related parties | 0.78 | 4.47 | 2.52 | 2.47 | 3.30 | 6.94 |
| Jash Flowcon engineers | ÷. | $\omega$ | 1.09 | 0.77 | 1.09 | 0.77 |
| Jash Precision Tools Limited | $\omega$ | $\overline{\phantom{a}}$ | 1.43 | 1.70 | 1.43 | 1.70 |
| Pratik Patel | 0.78 | 4.47 | $\blacksquare$ | i. | 0.78 | 4.47 |
| Reimbursement of expenses | 8.75 | 21.09 | $\overline{\phantom{a}}$ | $\blacksquare$ | 8.75 | 21.09 |
| Pratik Patel | 8.75 | 19.92 | $\overline{\phantom{a}}$ | $\blacksquare$ | 8.75 | 19.92 |
| L.D. Amin | $\overline{\phantom{a}}$ | 1.18 | $\overline{\phantom{a}}$ | 1.18 | ||
| Sitting fees | 3.00 | 3.75 | $\blacksquare$ | $\overline{\phantom{a}}$ | 3.00 | 3.75 |
| Legal and professional | 3.66 | $\blacksquare$ | $\overline{\phantom{a}}$ | $\blacksquare$ | 3.66 | $\bullet$ . |
| Suresh Patel | 3.66 | $\overline{\phantom{a}}$ | $\overline{\phantom{a}}$ | $\tilde{\phantom{a}}$ | 3.66 | $\sim$ |
| Loan repaid/adjusted | $\overline{\phantom{0}}$ | 21.39 | $\overline{\phantom{a}}$ | $\overline{\phantom{a}}$ | $\blacksquare$ | 21.39 |
| Pratik Patel | $\tilde{\phantom{a}}$ | 21.39 | $\overline{\phantom{a}}$ | $\overline{\phantom{a}}$ | $\overline{\phantom{a}}$ | 21.39 |
*Interest expense related to Patamin Investments Private Limited is the notional expense booked pursuant to the guidance of IND AS 116, Leases.
Jash Engineering Limited
Summary of significant accounting policies and other explanatory information for the year ended 31 March 2020 (All amount in INR lakbs unless stated otherwise)
Related party transactions (continued)
(v) Year end balances
| Particulars | Key management personnel andtheir relatives | Entities in which key managementpersonnel/director is havingsignificant influence/interested/entity having significant influenceover the Company | Total | |||
|---|---|---|---|---|---|---|
| 31 March 2020 | 31 March 2019 | 31 March 2020 | 31 March 2019 | 31 March 2020 | 31 March 2019 | |
| Trade receivables | $\qquad \qquad \blacksquare$ | $\qquad \qquad \blacksquare$ | 367.48 | 423.21 | 367.48 | 423.21 |
| Jash Precision Tools Limited | ٠ | 301.58 | 355.76 | 301.58 | 355.76 | |
| Micro Flat Datums Private Limited | $\overline{\phantom{a}}$ | $\overline{\phantom{m}}$ | 65.90 | 67.45 | 65.90 | 67.45 |
| Trade payables | $\overline{a}$ | ٠ | 91.27 | 99.95 | 91.27 | 99.95 |
| lash Precision Tools Limited | $\overline{\phantom{a}}$ | $\tilde{\phantom{a}}$ | $\qquad \qquad \blacksquare$ | 0.77 | $\overline{\phantom{a}}$ | 0.77 |
| Micro Flat Datums Private Limited | $\overline{a}$ | 50.09 | 36.02 | 50.09 | 36.02 | |
| Jash Flowcon Engineers | $\sim$ | ÷, | 41.17 | 63.16 | 41.17 | 63.16 |
| Security deposits | ٠ | ٠ | 37.50 | 25.00 | 37.50 | 25.00 |
| Patamin Investments Private Limited* | $\blacksquare$ | ٠ | 37.50 | 25.00 | 37.50 | 25.00 |
| Lease liability | $\overline{\phantom{a}}$ | $\overline{\phantom{a}}$ | 507.92 | 350.99 | 507.92 | 350.99 |
| Patamin Investments Private Limited | ٠ | 507.92 | 350.99 | 507.92 | 350.99 | |
| Employee related payable | 1.39 | 5.14 | $\qquad \qquad \blacksquare$ | ٠ | 1.39 | 5.14 |
| Pratik Patel | 0.51 | 3.46 | $\overline{a}$ | $\sim$ | 0.51 | 3.46 |
| L. D. Amin | 1.68 | ٠ | 1.68 | |||
| Suresh Patel | 0.88 | ÷ | 0.88 | |||
| Tour advance payable/(recoverable) by/from | (1.49) | 1.60 | $\overline{\phantom{a}}$ | $\overline{\phantom{a}}$ | (1.49) | 1.60 |
| Pratik Patel | (1.09) | 1.74 | $\ddot{\phantom{1}}$ | (1.09) | 1.74 | |
| L. D. Amin | (0.40) | (0.14) | $\overline{a}$ | $\overline{\phantom{a}}$ | (0.40) | (0.14) |
*The above amount of security deposit is the amount given as per agreement. However, the same has been carried forward at amortised cost.
