Persistent Systems Limited — Regulatory Filings 2021

May 11, 2021

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NSE & BSE / 2021-22 / 22

May 11, 2021

The Manager, Corporate Services, National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex, Bandra (E), Mumbai 400 051

Ref: Symbol: PERSISTENT

The Manager, Corporate Services, Bombay Stock Exchange Limited 14[th] Floor, P J Towers, Dalal Street, Mumbai 400 001

Ref: Scrip Code: 533179

Dear Sirs/Madam,

Sub: Related Party Transactions for the half year ended March 31, 2021

Pursuant to Regulation 23(9) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and all other applicable regulations, if any, the disclosures of related party transactions on a consolidated basis for the half year ended March 31, 2021 are enclosed for your records.

Please acknowledge the receipt.

Thanking you,

Yours sincerely,

For Persistent Systems Limited

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Amit Atre Company Secretary ICSI Membership No. A20507

Encl: As above

Persistent Systems Limited, Bhageerath, 402 Senapati Bapat Road, Pune 411 016, Maharashtra, India CIN - L72300PN1990PLCO56696

Tel: +91 (20) 670 30000 | Fax - +91 (20) 6703 0008 | E-mail - info@persistent.com | Website - www.persistent.com

Persistent Systems Limited

Related Party Disclosures

Names of related parties and related party relationship

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Related parties with whom transactions have taken place
Associates Klisma e-Services Private Limited
Key management personnel Dr. Anand Deshpande, Chairman and Managing Director
Mr. Christopher O'Connor, Chief Executive Officer and Director
(resigned wef August 9, 2020)
Mr Sandeep Kalra, Executive Director and Chief Executive Officer
(Executive Director and President was appointed as the Chief Executive Officer (‘CEO’) of
the Company with effect from October 23, 2020)
Mr. Sunil Sapre, Executive Director and Chief Financial Officer
Mr. Amit Atre, Company Secretary
Mr. Narasinha Upadhye, Director, Aepona Limited, Persistent Systems Lanka Pvt Ltd,
Aepona Group Limited
Mr. Azlin Ghazali, Director, Persistent Systems Malaysia Sdn. Bhd.
Mr. John Ryan, Director, Persistent Systems Malaysia Sdn. Bhd.
Ms. Audrey Reutens, Director, Persistent Systems Malaysia Sdn. Bhd.
Mr. Arnaud Pierrel, Director General, Persistent Systems France SAS
Mr. Steven Ward, Director, Youperience Limited, United Kingdom
Mr. Bruno Orsier, Director, Persistent Systems France SAS
Mr. Thomas Klein, Director, Persistent Systems, Inc., USA
Ms. Roshini Bakshi, Independent Director
Mr. Pradeep Bhargava, Independent Director
Mr. Sanjay Bhattacharya, Independent Director
(resigned as an Independent Director of the Company w.e.f. July 1, 2019)
Dr. Anant Jhingran, Director, Persistent Systems, Inc., USA
Mr. Thomas Kendra, Independent Director
Mr. Prakash Telang, Independent Director
(Retired wef July 24, 2020)
Mr. Kiran Umrootkar, Independent Director
(Retired wef July 24, 2020)
Mr. Deepak Phatak, Independent Director
Mr. Guy Eiferman, Independent Director
Mr. Silvio Galfetti, Director, Parx Werk AG, Switzerland
Mr. Steffen Drilich, Director, Youperience GmbH, Germany
Mr. Daniel Seiler, Director, PARX Werk AG
Mr. Beat Kach, Director, PARX Werk AG
Mr. Simon Nicholas Llyod-Jenkins, Director, Youperience Limited
Mr. Steven Ward, Director, Youperience Limited
Mr. Kolitha Ratwatte, Director, Persistent Systems (Lanka) Private Limited
Mr. Hitesh Salla, Director, Capiot Software Private Limited
Mr. Ashish Kapoor, Director, Capiot Software Private Limited
Mr. Sameer Bendre ^, Director, Capiot Software Private Limited
Mr. Sameer Dixit, Director, Capiot Software Private Limited
Mr. Vaudeva Anumukonda, Director, Capiot Software Inc
Mr. Ashish Kapoor, Director, Capiot Software PTE Ltd
Mr. Mohan Shankar, Director, Capiot Software Pty Ltd, Australia
Relatives of Key management personnel Mr. Suresh Deshpande
(Father of the Chairman and Managing Director)
Mrs. Sulabha Deshpande
(Mother of the Chairman and Managing Director)
Mrs. Sonali Anand Deshpande
(Wife of the Chairman and Managing Director)
Dr. Mukund Deshpande $
(Brother of the Chairman and Managing Director)
Mrs. Chitra Buzruk $
(Sister of the Chairman and Managing Director)
Mr. Arul Deshpande
(Son of the Chairman and Managing Director)
Members of Promoter Group Rama Purushottam Foundation
Entities over which a key management Deazzle Services Private Limited
personnel have significant influence Azure Associates, LLC
Persistent Foundation
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Persistent Systems Limited

Related party transactions

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Name of the related party and nature of relationship For the six
months ended
March 31,
2021
Donation given Entity over which a key management personnel has significant influence
Persistent Foundation 35.00
35.00
Remuneration # Key Management Personnel
(Salaries, bonus and contribution Dr. Anand Deshpande 14.36
to other funds) Mr. Sunil Sapre (including value of perquisites for stock options exercised ₹ 39.48
31.72 million during the year 2020-21)
Mr. Amit Atre 1.63
Mr. Sandeep Kalra (including value of perquisites for stock options exercised ₹ 40.25
45.84 million during the year 2020-21)
Mr. Azlin Ghazali 5.19
Ms. Audrey Reutens 2.74
Mr. Arnaud Pierrel 7.58
Mr. Bruno Orsier 5.86
Mr. Thomas Klein 27.30
Mr. Steffen Drilich 12.90
Mr. Steven Ward 11.80
Mr. Simon Nicholas Lloyd Jenkins 11.56
Mr. Beat Kach 19.30
Mr. Daniel Seiler 21.40
Mr. Kolitha Ratwatte 3.38
Mr. Hitesh Salla, Director 2.46
Mr. Ashish Kapoor 2.46
Mr. Vasudeva Anumukonda 6.37
Mr. Mohan Shankar 3.09
Mr. Narasinha Upadhye (including value of perquisites for stock options 2.27
exercised ₹ 0.33 million)
Mr. Sameer Bendre ^ (including value of perquisites for stock options exercised 6.98
₹ 2.24 million)
Independent directors:
Ms. Roshini Bakshi 1.15
Mr. Pradeep Bhargava 1.20
Dr. Anant Jhingran 0.97
Mr. Thomas Kendra 0.86
-
Mr. Prakash Telang
Mr. Kiran Umrootkar -
Mr. Guy Eiferman 1.23
Dr. Deepak Phatak 0.98
Relatives of Key Management Personnel
Mr. Arul Deshpande 0.03
Total 254.78
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Persistent Systems Limited
Dividend paid Key Management Personnel
Dr. Anand Deshpande 319.90
Mr. Sunil Sapre 0.06
Mr Sandeep Kalra 0.56
Independent directors:
Pradeep Bhargava 0.18
Roshini Bakshi 0.07
Relatives of Key Management Personnel
Mr. Suresh Deshpande 0.07
Mrs. Chitra Buzruk 6.57
Dr. Mukund Deshpande 5.60
Mrs. Sonali Anand Deshpande 1.57
Mrs. Sulabha Suresh Deshpande 0.64
Mr. Arul Deshpande 0.14
Total 335.36
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(iii) Outstanding balances

Advances given Investments Loans given	As at March 31, 2021 Associate Klisma e-Services Private Limited @ 0.81 Total 0.81 Associate Klisma e-Services Private Limited @ 0.05 Total 0.05 Associate Klisma e-Services Private Limited @ 27.43 Total 27.43 Name of the related party and nature of relationship

$ Dr. Mukund Deshpande and Mrs. Chitra Buzruk and have resigned w.e.f. Apr 28, 2020 and May 29, 2020 respectively. # The remuneration to the key managerial personnel does not include the provisions made for gratuity, long service awards and leave benefits, as they are determined on an actuarial basis for the Company/Group as a whole.

** Mr. Arul Deshpande has joined with effect from March 8, 2021

^ Mr. Sameer Bendre was appointed as Director in Capiot Software Private Limited during financial year 2020-21 and hence his remuneration is disclosed for the current financial year only.

The key managerial personnel though appointed during the year, their remuneration for the financials year ended March 31, 2021 and March 31, 2020 has been disclosed for the entire financial year.

@These balances are fully provided for.

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