KRBL Ltd. — Audit Report / Information 2020

Jul 10, 2020

E:KRBL/BIBHU/STK_EX_2021/23 10 July 2020

The General ManagerDepartment of Corporate ServicesBSE LimitedFloor 25, Phiroze Jeejeebhoy TowersDalal StreetMumbai –400 001	✓	National Stock Exchange of India Limited"Exchange Plaza", C-1, Block-GBandra-Kurla ComplexBandra (E)Mumbai-400051
Scrip Code:530813		Symbol: KRBL	Series: Eq.

Dear Sir/Madam,

Sub: Revised disclosure of Related Party Transactions pursuant to Regulation 23(9) of Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015.

Pursuant to the provisions of Regulation 23(9) of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the revised disclosure of Related Party Transactions of the Company on a consolidated basis for the year ended 31 March 2020.

The same is revised due to the reason that the remuneration paid to Mr. Arun Kumar Gupta and Mr. Anoop Kumar Gupta were inadvertently interchanged and are now corrected. Further the interest paid to Khushi Ram Behari Lal which was earlier shown as net of TDS is now grossed up.

You are requested to kindly ignore the mentioned inadvertent error and consider the attached disclosure of Related Party Transactions of the Company on a consolidated basis for the year ended 31 March 2020.

Further, the above said disclosure is also available on the Company's website at www.krblrice.com under the head Investor Relations.

This is for your information and record.

Thanking you,

Yours faithfully, For KRBL Limited

Raman Sapra Company Secretary

Encl.: As Above.

CONSOLIDATED DISCLOSURE OF RELATED PARTY TRANSACTIONS AND BALANCES FOR THE YEAR ENDED 31 MARCH 2020.

PART A: RELATED PARTIES AND THEIR RELATIONSHIPS:

a) Key Managerial Personnel's (KMPs):

Mr. Anil Kumar Mittal	:	Chairman & Managing Director
Mr. Arun Kumar Gupta	:	Joint Managing Director
Mr. Anoop Kumar Gupta	:	Joint Managing Director
Ms. Priyanka Mittal	:	Whole Time Director

b) Additional related parties (KMPs) as per the Companies Act 2013 with whom transactions have taken place during the year:

Mr. Rakesh Mehrotra	:	Chief Financial Officer
Mr. Raman Sapra	:	Company Secretary

c) Independent Non-Executive Directors:

Mr. Vinod Ahuja	:	Independent Non-Executive Director
Mr. Ashwani Dua	:	Independent Non-Executive Director
Mr. Shyam Arora	:	Independent Non-Executive Director
Mr. Devendra Kumar Aggawal	:	Independent Non-Executive Director
Mr. Alok Sabharwal	:	Independent Non-Executive Director
Mrs. Priyanka Sardana	:	Independent Non-Executive Director

d) Relatives of KMPs*:

Mrs. Preeti Mittal	:	Wife of Mr. Anil Kumar Mittal
Mrs. Anulika Gupta	:	Wife of Mr. Arun Kumar Gupta
Mrs. Binita Gupta	:	Wife of Mr. Anoop Kumar Gupta
Mr. Ashish Mittal	:	Son of Mr. Anil Kumar Mittal
Mrs. Neha Singh	:	Daughter of Mr. Arun Kumar Gupta
Mr. Kunal Gupta	:	Son of Mr. Arun Kumar Gupta
Mrs. Rashi Gupta	:	Daughter of Mr. Anoop Kumar Gupta
Mr. Akshay Gupta	:	Son of Mr. Anoop Kumar Gupta
Mr. Ayush Gupta	:	Son of Mr. Anoop Kumar Gupta
Anil Kumar Mittal HUF	:	Mr. Anil Kumar Mittal is Karta of Anil Kumar Mittal HUF
Arun Kumar Gupta HUF	:	Mr. Arun Kumar Gupta is Karta of Arun Kumar Gupta HUF
Anoop Kumar Gupta HUF	:	Mr. Anoop Kumar Gupta is Karta of Anoop Kumar Gupta HUF

e) Enterprises over which KMPs are able to exercise significant influence*:

Khushi Ram Behari Lal	:	Partnership Firm in which Mr. Anil K. Mittal, Mr. Arun K. Gupta &
		Mr. Anoop K. Gupta are Partners.
Adwet Warehousing Private Limited	:	Private Limited Company in which Mr. Anil K. Mittal, Mr. Arun K.
		Gupta & Mr. Anoop K. Gupta are Directors.
KRBL Foods Limited	:	Public Limited Company in which Mr. Anil K. Mittal, Mr. Arun K.
		Gupta & Mr. Anoop K. Gupta, Mrs. Preeti Mittal, Mrs. Anulika Gupta
		& Mrs. Binita Gupta are Directors.
KRBL Infrastructure Limited	:	Public Limited Company in which Mr. Anil K. Mittal, Mr. Arun K.
		Gupta & Mr. Anoop K. Gupta, Mrs. Preeti Mittal, Mrs. Anulika Gupta
		& Mrs. Binita Gupta are Directors.
Holistic Farms Private Limited	:	Private Limited Company in which Mr. Anil K. Mittal, Mr. Arun K.
		Gupta & Mr. Anoop K. Gupta are Directors.

f) Trust/Society over which KMPs are able to exercise significant influence*:

Anil Mittal Family Trust	:	Trust in which Mr. Anil Kumar Mittal, Mrs. Anil Kumar Mittal, Mr.
		Ashish Mittal and Ms. Priyanka Mittal are beneficiaries.
Arun Kumar Gupta Family Trust	:	Trust in which Mr. Arun Kumar Gupta and Mr. Kunal Gupta are
		beneficiaries.
Anoop Kumar Gupta Family Trust	:	Trust in which Mr. Anoop Kumar Gupta, Mr. Akshay Gupta and Mr.
		Ayush Gupta are beneficiaries.
Binita Gupta Family Trust	:	Trust in which Mr. Anoop Kumar Gupta and Ms. Binita Gupta, Mr.
		Akshay Gupta and Mr. Ayush Gupta are beneficiaries.

* This includes only those parties with whom Company had related party transactions.

PART B: TRANSACTIONS AND BALANCES WITH KEY MANAGERIAL PERSONNEL'S (KMPS) ON CONSOLIDATED BASIS FOR THE YEAR AS ON 31 MARCH 2020

		(Amounts in Rupees Lacs)
S.No.	Particulars	Transactions with KMPs
I	RELATED PARTY TRANSACTIONS ENTERED DURING
	THE YEAR
i	Remuneration on A/c of Salary & Perquisites1
	Mr. Anil Kumar Mittal	119
	Mr. Arun Kumar Gupta	137
	Mr. Anoop Kumar Gupta	119
	Ms. Priyanka Mittal	81
	Mr. Raman Sapra	15
	Mr. Rakesh Mehrotra	85
		556
ii	Dividend paid2
	Mr. Anil Kumar Mittal	0
	Mr. Arun Kumar Gupta	0
	Mr. Anoop Kumar Gupta	0
	Ms. Priyanka Mittal	0
		0
iii	Rent paid3
	Mr. Anil Kumar Mittal	2
	Mr. Arun Kumar Gupta	6
	Mr. Anoop Kumar Gupta	6
		14
iv	Advances adjusted against salary
	Mr. Rakesh Mehrotra	(1)
		(1)
v	Borrowings- Unsecured loans availed
	Mr. Anil Kumar Mittal	3,458
	Mr. Arun Kumar Gupta	2,094
	Mr. Anoop Kumar Gupta	1,775
		7,327
vi	Borrowings-Unsecured loans repaid
	Mr. Anil Kumar MittalMr. Arun Kumar Gupta	1,3761,566
	Mr. Anoop Kumar Gupta	1,566
		4,508

		(Amounts in Rupees Lacs)
S.No.	Particulars	Transactions with KMPs
II	BALANCES OUTSTANDING AT THE END OF THE YEAR
i	Unsecured borrowings-Current
	Mr. Anil Kumar Mittal	2,424
	Mr. Arun Kumar Gupta	1,794
	Mr. Anoop Kumar Gupta	2,711
	Ms. Priyanka Mittal	34
		6,963
ii	Employee related payables
	Mr. Anil Kumar Mittal	7
	Mr. Arun Kumar Gupta	3
	Mr. Anoop Kumar Gupta	6
	Ms. Priyanka Mittal	3
	Mr. Rakesh Mehrotra	1
	Mr. Raman Sapra	1
		21
iii	Other balances outstanding at the end of the year, net
	(Payable)/Receivable2
	Mr. Arun Kumar Gupta	0
	Mr. Anoop Kumar Gupta	(0)
	Mr. Rakesh Mehrotra	0
		0

1. As gratuity and compensated absences are computed for all the employees in aggregate, the amount relating to KMPs cannot be individually identified.

2. Amounts are below rounding off thresholds adopted by the Company.

3. Transactions are inclusive of goods and service tax.

4. All related party transactions are at arms length price and in the ordinary course of business. 4. Personal guarantee has been given by Mr. Anil Kumar Mittal, Mr. Anoop Kumar Gupta and Mr. Arun Kumar Gupta in respect of working capital consortium loan taken by the Company, as at the year ended 31 March 2020, the outstanding amount of loan is Rs.39,308 lacs (previous year Rs.1,14,007 lacs)and Mr. Ashish Mittal (relative of key managerial personnel) to the extent of the immovable properties as specified in consortium agreement.

TRANSACTIONS AND BALANCES WITH OTHER RELATED PARTIES ON CONSOLIDATED BASIS FOR THE YEAR ENDED ON 31 MARCH 2020

			(Amounts in Rupees Lacs)
		Enterprises/Trusts over	Other Related
S.No.	Particulars	which significant influence
		is exerised by KMPs	Parties
I	RELATED PARTY TRANSACTIONS ENTERED
	DURING THE YEAR
i	Purchase of goods1
	Khushi Ram Behari Lal	15	-
		15	-
ii	Sale of goods1
	Khushi Ram Behari Lal	885	-
		885	-
iii	Rent paid 1
	KRBL Infrastructure Limited	293	-
	KRBL Foods Limited	651	-
	Adwet Warehousing Private Limited	150	-
	Holistic Farms Private Limited	48	-
	Mrs. Preeti Mittal	-	2
	Mrs. Anulika Gupta	-	16
	Mrs. Binita Gupta	-	2
	Mr. Ashish Mittal	-	17
	Anoop Kumar Gupta HUF	-	14
		1,142	51
iv	Expense incurred (on behalf of company by others)/by
	company for others
	Khushi Ram behari lal	3	-
		3	-
v	Remuneration on A/c of Salary & Perquisites2
	Mr. Ashish Mittal	-	26
	Mr. Kunal Gupta	-	26
	Mr. Akshay Gupta	-	26
	Mr. Ayush Gupta	-	26
		-	104
vi	Electricity charges paid
	KRBL Infrastucture Limited	(19)	-
	Repair and Maintainance paid1	(19)	-
vii
	KRBL Infrastucture Limited	(68)	-
		(68)	-
viii	Sitting fees paid
	Mr. Vinod Ahuja	-	2
	Mr. Ashwani DuaMr. Shyam Arora	--	02
	Mr. Devendra Kumar Agarwal	-	2
	Mr. Alok Sabharwal	-	1
	Mrs. Priyanka Sardana	-	1
		-	8
ix	Dividend paid
	Anil Mittal Family Trust	2,267	-
	Arun Kumar Gupta Family Trust	2,201	-
	Anoop Kumar Gupta Family Trust	2,059	-
	Binta Gupta Family Trust	12	-
	Anil Kumar Mittal HUF	-	191
	Arun Kumar Gupta HUF	-	257
	Anoop Kumar Gupta HUF	-	387
	Preeti Mittal3	-	0
	Anulika Gupta3	-	0
	Binta Gupta3	-	0
	Neha Gupta3	-	0
	Rashi Gupta3	-	0
	Ashish Mittal3	-	0
	Kunal Gupta3
		-	0
	Akshay Gupta3	-	0
	Ayush Gupta3	-	0
		6,539	835

			(Amounts in Rupees Lacs)
S.No.	Particulars	Enterprises/Trusts over	Other Related
		which significant influence	Parties
		is exerised by KMPs
x	Interest paid
	Khushi Ram Behari Lal	154	-
		154	-
xi	Discount allowed on sale of goods
	Khushi Ram Behari Lal	43	-
		43	-
xii	Advance received against supply of goods
	Khushi Ram Behari Lal	(2,162)	-
		(2,162)	-
xiii	Advance received against supply of goods returned back
	Khushi Ram Behari Lal	2,300	-
		2,300	-

			(Amounts in Rupees Lacs)
S.No.	Particulars	Enterprises/Trusts over	Other Related
		which significant influence	Parties
		is exerised by KMPs
II	BALANCES OUTSTANDING AT THE END OF THE
	YEAR
i	Advance received from customers
	Khushi Ram Behari Lal	588	-
		588	-
ii	Receivable on account of Security deposit/Prepaid Lease
	KRBL Infrastucture Limited	971	-
		971	-
iii	Payable on account of rentals
	KRBL Infrastucture Limited	(14)	-
		(14)	-
iv	Employee related payables
	Mr. Ashish Mittal	-	2
	Mr. Kunal Gupta	-	1
	Mr. Akshay Gupta	-	1
	Mr. Ayush Gupta	-	1
		-	5
v	Other balances payable at the end of the year3
	Mr. Ashish Mittal	-	(0)
	Mr. Ayush Gupta	-	0
		-	0

1. Transactions are inclusive of goods and service tax

2. As gratuity and compensated absences are computed for all the employees in aggregate, the amount relating to relatives of KMPs cannot be individually identified.

3. Amounts are below rounding off thresholds adopted by the Company.

4. Personal guarantee has been given by Mr. Anil Kumar Mittal, Mr. Anoop Kumar Gupta and Mr. Arun Kumar Gupta in respect of working capital consortium loan taken by the Company, as at the year ended 31 March 2020, the outstanding amount of loan is Rs.39,308 lacs (previous year Rs.1,14,007 lacs)and Mr. Ashish Mittal (relative of key managerial personnel) to the extent of the immovable properties as specified in consortium agreement.

5. All related party transactions are at arms length price and in the ordinary course of business.