Related Party Transactions
For the purpose of these financial statements, parties are considered to be related to the Company, if the Company has the ability, directly or indirectly, to control the party or exercise significant influence over the party in making financial and operating decisions, or vice versa, or where the Company and the party are subject to common control or common significant influence. Related parties may be individuals or other entities.
A. Name of Related Party and Relationship
| Enterprises under common control |
Sanjeevani Impex Private Limited |
|
Sandhar Intelli-Glass Solutions Limited |
|
Sandhar Info Systems Limited |
|
Sandhar Estate Private Limited |
|
YSG Estates Private Limited |
|
Sandhar Enterprises |
|
KDB Investment Private Limited |
|
Jubin Finance andInvestment Limited |
|
Raasaa Retail Private Limited |
|
Haridwar Estates Private Limited |
|
Supanavi Trading Private Limited |
| Joint Ventures |
Indo Toolings Private Limited |
|
Sandhar Han Sung Technologies Private Limited |
|
Sandhar Ecco Green Energy Private Limited |
|
Jinyoung Sandhar Mechatronics Private Limited |
|
Sandhar Amkin Industries Private Limited |
|
Sandhar Daewha Automotive Systems Private Limited |
|
Sandhar Daeshin Auto Systems Private Limited |
|
Sandhar Whetron Electronics Private Limited |
|
Kwangsung Sandhar Technologies Private Limited |
|
Winnercom Sandhar Technologies Private Limited |
|
(w.e.f. 22nd August 2019)Sandhar Han Shin Automotive Private Limited |
|
(w.e.f. 16th September 2019) |
|
Kwangsung Sandhar Automotive Systems PrivateLimited (w.e.f. 21st November 2019) |
|
Sandhar Han Shin Auto Technologies Private Limited(w.e.f. 26th November 2019) |
| Mr. Jayant Davar (Co-Chairman-and-Managing Director)Key Managerial PersonnelMr. Arvind Joshi (Whole time Director, C.F.O. &Company Secretary)(resigned w.e.f. 10th May 2020)Mr. Narender Kumar Dogra(Chief Financial Officer)(appointed w.e.f. 11th May 2020)Ms. Subhi Gupta (Company Secretary)(appointed w.e.f.11th May 2020)Mr. D. N. Davar (Chairman)Mrs. Monica DavarRelatives of Key Managerial Personnel and |
|
|
|
|
|
|
| Mr.Neeljay Davarrelatives of Individual owning an interest in the |
| voting power of reporting enterprise that givesMrs. Santosh Davarthem significant influence over the Company |
| Mrs. Poonam Juneja |
| Mrs. Urmila Joshi |
| Swaran Enterprises (Mrs. Santosh Davar is a Partner)EnterprisesoverwhichrelativesofKey |
| ManagerialPersonnelareabletoexercisesignificant influenceShorah Realty LLP |
B. The following table provides the total amount of transactions that have been entered into with related parties for the relevant financial year.
| Nature of |
Name of related |
Relationship |
For the year ended |
For the year ended |
| transaction |
party |
|
31 March 2020 |
31 March 2019 |
| Purchase of |
Swaran Enterprises |
Enterprises over which |
|
|
| Goods |
|
relatives of Key |
2,815.79 |
2,881.07 |
|
|
Managerial Personnel |
|
|
|
|
are able to exercise |
|
|
|
|
significant influence |
|
|
|
Sandhar Daewha |
Joint Venture of |
180.35 |
- |
|
Automotive Systems |
Reporting Enterprises |
|
|
|
Private Limited |
|
|
|
|
Sandhar Han Sung |
Joint Venture of |
|
|
|
Technologies Private |
Reporting Enterprises |
180.22 |
70.22 |
|
Limited |
|
|
|
|
Sandhar Ecco Green |
Joint Venture of |
|
|
|
Energy Pvt. Ltd. |
Reporting Enterprises |
- |
0.80 |
| Sale of goods |
Sandhar Han Sung |
Joint Venture of |
27.93 |
10.19 |
|
Technologies Private |
Reporting Enterprises |
|
|
|
Limited |
|
|
|
|
Sandhar Daewha |
Joint Venture of |
13.58 |
1.26 |
|
Automotive Systems |
Reporting Enterprises |
|
|
|
Private Limited |
|
|
|
|
Sandhar Amkin |
Joint Venture of |
216.09 |
88.82 |
|
Industries Private |
Reporting Enterprises |
|
|
|
Limited |
|
|
|
|
Swaran Enterprises |
Enterprises over which |
2.27 |
1.32 |
|
|
relatives of Key |
|
|
|
|
Managerial Personnel |
|
|
|
|
are able to exercise |
|
|
|
|
significant influence |
|
|
| Sale of |
Sandhar Amkin |
Joint Venture of |
- |
2.36 |
| Property Plant |
Industries Private |
Reporting Enterprises |
|
|
| and |
Limited |
|
|
|
| Equipment |
Sandhar Daewha |
Joint Venture of |
0.94 |
118.20 |
|
Automotive Systems |
Reporting Enterprises |
|
|
|
Private Limited |
|
|
|
|
Sandhar Whetron |
Joint Venture of |
0.04 |
- |
|
ElectronicsPrivate |
Reporting Enterprises |
|
|
|
Limited |
|
|
|
|
Winnercom Sandhar |
Joint Venture of |
205.74 |
- |
|
Technologies Private |
Reporting Enterprises |
|
|
|
Limited |
|
|
|
|
Sandhar Han Shin |
Joint Venture of |
0.97 |
- |
|
Auto Technologies |
Reporting Enterprises |
|
|
|
Private Limited |
|
|
|
| Purchase of |
Sandhar Han Sung |
Joint Venture of |
56.26 |
- |
| Property Plant |
Technologies Private |
Reporting Enterprises |
|
|
| and |
Limited |
|
|
|
| Equipment |
Sandhar Ecco Green |
Joint Venture of |
- |
11.39 |
|
Energy Private |
Reporting Enterprises |
|
|
|
Limited |
|
|
|
|
Sandhar Intelli Glass |
Enterprises under |
113.99 |
- |
|
Solutions Limited |
Common control |
|
|
|
Indo Tooling Private |
Joint Venture of |
- |
145.14 |
|
Limited |
Reporting Enterprises |
|
|
| Reimburseme |
Sandhar Han Sung |
Joint Venture of |
103.98 |
85.21 |
| ntof expenses |
Technologies Private |
Reporting Enterprises |
|
|
| from |
Limited |
|
|
|
|
Sandhar Infosystems |
Enterprises under |
0.01 |
0.01 |
|
Limited |
Common control with |
|
|
|
|
the Reporting |
|
|
|
|
Enterprises |
|
|
|
Jinyoung Sandhar |
Joint Venture of |
10.17 |
6.55 |
|
Mechatronics Private |
Reporting Enterprises |
|
|
|
Limited |
|
|
|
|
Sandhar Han Shin |
Joint Venture of |
15.98 |
- |
|
Automotive Private |
Reporting Enterprises |
|
|
|
Limited |
|
|
|
|
Sandhar Daewha |
Joint Venture of |
51.77 |
35.78 |
|
Automotives Systems |
Reporting Enterprises |
|
|
|
Pvt Ltd |
|
|
|
|
Sandhar AmkinIndustries Pvt Limited |
Joint Venture ofReporting Enterprises |
34.52 |
51.14 |
|
Sandhar Daeshin AutoSystems PrivateLimited |
Joint Venture ofReporting Enterprises |
- |
0.77 |
|
Sandhar WhetronElectronics PrivateLimited |
Joint Venture ofReporting Enterprises |
85.88 |
17.71 |
|
Kwangsung SandharTechnologies PrivateLimited |
Joint Venture ofReporting Enterprises |
2.42 |
5.17 |
|
Winnercom SandharTechnologies PrivateLimited |
Joint Venture ofReporting Enterprises |
77.19 |
- |
|
Kwangsung SandharAutomotive SystemsPrivate Limited |
Joint Venture ofReporting Enterprises |
0.38 |
- |
|
Sandhar Han ShinAuto TechnologiesPrivate Limited |
Joint Venture ofReporting Enterprises |
20.89 |
- |
| Lease rentals(includingGST/ ServiceTax) paid to |
Sandhar EstatesPrivate Limited |
Enterprises underCommon control withthe ReportingEnterprises |
32.70 |
30.47 |
|
Jubin Finance andInvestment Limited |
Enterprises underCommon control withthe ReportingEnterprises |
268.36 |
268.36 |
|
Urmila Joshi |
Key ManagerialPersonnel & theirrelatives |
9.14 |
8.63 |
|
Jayant Davar |
Key ManagerialPersonnel & theirrelatives |
6.00 |
6.00 |
|
Shorah Realty LLP |
Key ManagerialPersonnel & theirrelatives |
0.59 |
0.71 |
| Lease rentals(includingGST/ Service |
Winnercom SandharTechnologies PrivateLimited |
Joint Venture ofReporting Enterprises |
15.05 |
- |
| Tax) receivedfrom |
Sandhar HanSungTechnologies PrivateLimited |
Joint Venture ofReporting Enterprises |
23.30 |
14.82 |
|
Sandhar DaewhaAutomotive SystemsPrivate Limited |
Joint Venture ofReporting Enterprises |
0.28 |
0.28 |
|
Jinyoung SandharMechatronics PrivateLimited |
Joint Venture ofReporting Enterprises |
2.40 |
7.04 |
| DividendReceived from |
Indo Toolings PrivateLimited |
Joint Venture ofReporting Enterprises |
33.30 |
- |
| Service Given |
Sandhar Amkin |
Joint Venture of |
2.37 |
13.18 |
|
Industries PrivateLimited |
Reporting Enterprises |
|
|
|
Winnercom Sandhar |
Joint Venture of |
14.06 |
- |
|
Technologies PrivateLimited |
Reporting Enterprises |
|
|
|
Sandhar Daewha |
Joint Venture of |
6.41 |
- |
|
Automotive SystemsPrivate Limited |
Reporting Enterprises |
|
|
| Interest |
Sandhar Daewha |
Joint Venture of |
3.77 |
0.55 |
| Received |
Automotive SystemsPrivate Limited |
Reporting Enterprises |
|
|
|
Sandhar Amkin |
Joint Venture of |
32.94 |
0.10 |
|
Industries PrivateLimited |
Reporting Enterprises |
|
|
|
Sandhar Whetron |
Joint Venture of |
0.08 |
- |
|
Electronics PrivateLimited |
Reporting Enterprises |
|
|
|
Sandhar Han Sung |
Joint Venture of |
1.66 |
- |
|
Technologies Pvt.Ltd. |
Reporting Enterprises |
|
|
| Managerial |
Jayant Davar |
Key Managerial |
476.27 |
730.31 |
| remuneration |
|
Personnel & theirrelatives |
|
|
|
Arvind Joshi |
Key Managerial |
172.73 |
198.28 |
|
|
Personnel & their |
|
|
|
|
relatives |
|
|
|
Narender KumarDogra |
Key ManagerialPersonnel & their |
47.41 |
44.67 |
|
|
relatives |
|
|
| Dividend paid |
Jayant Davar |
Key Managerial |
781.56 |
390.47 |
|
|
Personnel & their |
|
|
|
Others |
relativesEnterprises under |
128.88 |
64.23 |
|
|
Common control with |
|
|
|
|
the Reporting |
|
|
|
|
Enterprises |
|
|
|
Others |
Key ManagerialPersonnel & their |
146.67 |
73.33 |
|
|
relatives |
|
|
| Investment in |
Sandhar Han Sung |
Joint Venture of |
679.39 |
- |
| JV's |
Technologies PrivateLimited |
Reporting Enterprises |
|
|
|
Jinyoung Sandhar |
Joint Venture of |
- |
331.10 |
|
Mechatronics PrivateLimited |
Reporting Enterprises |
|
|
|
Sandhar Daewha |
Joint Venture of |
15.00 |
1076.63 |
|
Automotives SystemPvt Ltd |
Reporting Enterprises |
|
|
|
Sandhar Amkin |
Joint Venture of |
287.00 |
505.00 |
|
Industries Pvt Ltd |
Reporting Enterprises |
|
|
|
Kwangsung Sandhar |
Joint Venture of |
108.52 |
1.00 |
|
Technologies Private |
Reporting Enterprises |
|
|
|
Limited |
|
|
|
|
Sandhar Whetron |
Joint Venture of |
633.49 |
49.58 |
|
Electronics Private |
Reporting Enterprises |
|
|
|
Limited |
|
|
|
|
Sandhar Daeshin Auto |
Joint Venture of |
- |
1.07 |
|
Systems Private |
Reporting Enterprises |
|
|
|
Limited |
|
|
|
|
Sandhar Han Shin |
Joint Venture of |
1.00 |
- |
|
Automotive Private |
Reporting Enterprises |
|
|
|
Limited |
|
|
|
|
Sandhar Han Shin |
Joint Venture of |
199.99 |
- |
|
Auto Technologies |
Reporting Enterprises |
|
|
|
Private Limited |
|
|
|
|
Winnercom Sandhar |
Joint Venture of |
400.00 |
- |
|
Technologies Private |
Reporting Enterprises |
|
|
|
Limited |
|
|
|
| Loan & |
Sandhar Daewha |
Joint Venture of |
88.18 |
75.00 |
| Advances |
Automotive Systems |
Reporting Enterprises |
|
|
| Given to |
Private Limited |
|
|
|
|
Sandhar Amkin |
Joint Venture of |
400.00 |
30.00 |
|
Industries Private |
Reporting Enterprises |
|
|
|
Limited |
|
|
|
|
Sandhar Whetron |
Joint Venture of |
16.00 |
- |
|
Electronics Private |
Reporting Enterprises |
|
|
|
Limited |
|
|
|
|
Sandhar Han Sung |
Joint Venture of |
100.78 |
- |
|
Technologies Private |
Reporting Enterprises |
|
|
|
Limited |
|
|
|
| Paid for Land |
Haridwar Estates |
Enterprises under |
- |
31.27 |
|
Private Limited |
Common control with |
|
|
|
|
the Reporting |
|
|
|
|
Enterprises |
|
|
Balances Outstanding
| Nature ofBalancesoutstanding |
Name of related party |
Relationship |
Balance as at 31March 2020 |
Balance as at 31March 2019 |
| OutstandingReceivable |
Sandhar Han SungTechnologies Private |
Joint Venture ofReporting Enterprises |
- |
36.85 |
|
Limited |
|
|
|
|
Haridwar Estates |
Enterprises under |
|
|
|
Private Limited |
Common control with |
130.77 |
130.77 |
|
|
the Reporting |
|
|
|
|
Enterprises |
|
|
|
Jinyoung Sandhar |
Joint Venture of |
|
|
|
Mechatronics PrivateLimited |
Reporting Enterprises |
0.06 |
3.76 |
|
Sandhar DaewhaAutomotives SystemPvt Ltd |
Joint Venture ofReporting Enterprises |
145.66 |
1.53 |
|
|
|
|
|
|
Sandhar Amkin |
Joint Venture of |
|
|
|
Industries Pvt Ltd |
Reporting Enterprises |
486.15 |
123.51 |
|
Sandhar Whetron |
Joint Venture of |
|
|
|
Electronics PrivateLimited |
Reporting Enterprises |
0.92 |
10.31 |
|
Sandhar Daeshin Auto |
Joint Venture of |
|
|
|
Systems PrivateLimited |
Reporting Enterprises |
- |
0.77 |
|
Kwangsung Sandhar |
Joint Venture of |
0.01 |
5.17 |
|
Technologies PrivateLimited |
Reporting Enterprises |
|
|
|
Sandhar Infosystems |
Enterprises under |
0.001 |
- |
|
Limited |
common control |
|
|
|
Sandhar Han Shin |
Joint Venture of |
5.98 |
- |
|
Automotive PrivateLimited |
Reporting Enterprises |
|
|
|
Kwangsung Sandhar |
Joint Venture of |
0.15 |
- |
|
Automotive SystemsPrivate Limited |
Reporting Enterprises |
|
|
|
Sandhar Han Shin |
Joint Venture of |
14.08 |
- |
|
Auto Technologies |
Reporting Enterprises |
|
|
|
Private Limited |
Joint Venture of |
|
|
|
|
Reporting Enterprises |
|
|
|
Winnercom Sandhar |
Joint Venture of |
5.88 |
- |
|
Technologies PrivateLimited |
Reporting Enterprises |
|
|
| Outstanding |
Swaran Enterprises |
Enterprises over which |
|
|
| Payable |
|
relatives of Key |
291.92 |
295.57 |
|
|
Managerial Personnel |
|
|
|
|
areable to exercise |
|
|
|
|
significant influence |
|
|
|
Sandhar Han Sung |
Joint Venture of |
30.98 |
- |
|
Technologies PrivateLimited |
Reporting Enterprises |
|
|
|
Shorah Realty LLP |
Key Managerial |
0.12 |
0.12 |
|
|
Personnel & their |
|
|
|
|
relatives |
|
|
|
Indo Toolings Private |
Joint Venture of |
12.30 |
12.30 |
|
Limited |
Reporting Enterprises |
|
|
|
Urmila Joshi |
Key Managerial |
0.76 |
0.72 |
|
|
Personnel & their |
|
|
|
|
relatives |
|
|
| Security |
Sandhar Estates Private |
Enterprises under |
36.00 |
36.00 |
| deposit given |
Limited |
Common control with |
|
|
| to |
|
the Reporting |
|
|
|
|
Enterprises |
|
|
| deposit givenInvestment LimitedCommon control withtothe ReportingEnterprisesManagerialJayant DavarKey Managerial333.56598.29RemunerationPersonnel & theirPayablerelativesNarender KumarKey Managerial2.893.68DograPersonnel & theirrelativesArvind JoshiKey Managerial46.6687.87Personnel & theirrelativesInvestment inIndo Toolings PrivateJoint Venture of352.50352.50JV'sLimitedReporting EnterprisesSandhar Han SungJoint Venture of1,599.25919.85Technologies PrivateReporting EnterprisesLimitedSandhar Ecco GreenJoint Venture of222.48222.48Energy PrivateReporting EnterprisesLimited*Jinyoung SandharJoint Venture of900.07900.07Mechatronics PrivateReporting EnterprisesLimitedSandhar DaewhaJoint Venture of1,497.311,482.31Automotives SystemReporting EnterprisesPvt LtdSandhar AmkinJoint Venture of832.00545.00Industries Private LtdReporting EnterprisesSandhar Daeshin AutoJoint Venture of1.071.07Systems PrivateReporting EnterprisesLimitedSandhar WhetronJoint Venture of683.0749.58Electronics PrivateReporting EnterprisesLimitedKwangsung SandharJoint Venture of109.521.00 |
Security |
Jubin Finance and |
Enterprises under |
98.88 |
98.88 |
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| Technologies PrivateReporting Enterprises |
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| Limited |
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| Winnercom SandharJoint Venture of400.00- |
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| Technologies PrivateReporting Enterprises |
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| Limited |
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| Sandhar Han ShinJoint Venture of1.00- |
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| Automotive PrivateReporting Enterprises |
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| Limited |
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| Sandhar Han ShinJoint Venture of199.99- |
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| Auto TechnologiesReporting Enterprises |
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Private Limited |
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*During the year ended 31 March 2019, the Company noted an impairment trigger on account of proposed discontinuation of business in its joint venture company ('Sandhar Ecco Green Energy Private Limited'). Company performed an impairment assessment of its investment in equity shares of Sandhar Ecco Green Energy Private Limited
to compute the fair value of its investment. Based on management's assessment, as the fair value of the investment was lower than the carrying amount of the investment, an impairment charge of Rs. 74.08 Lacs was recognized in the financial statements during the previous year ended 31 March 2019, during the current year changes in fair value amounting to Rs. 4.88 Lacs have been recognized against the said impairment provision.