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Sandhar Technologies Limited Regulatory Filings 2021

May 26, 2021

60876_rns_2021-05-26_5d399924-53e6-4c43-b540-dec7824d688b.pdf

Regulatory Filings

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Ref: STL /REG 23(9)/ Related Party Transaction / BSE / NSE / 26052021

Dated: 26[th] May, 2021

To To Department of Corporate Services Listing Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Dalal Street C-1, G Block, Bandra Kurla Complex Mumbai – 400 001 Bandra, (E), Mumbai – 400 0051

BSE Code: 541163; NSE: Sandhar

Subject: Disclosure of Related Party Transactions

Ref: Regulation 23(9) of SEBI (Listing Obligations and Disclosure Requirements), Regulations 2015 (“Listing Regulations”)

Dear Sir/Madam,

Pursuant to Regulation 23(9) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the disclosure of Related Party Transactions on a Consolidated basis as on 31[st] March, 2021.

This disclosure will also be hosted on the Company's website at www.sandhargroup.com

We request you to take the same on record.

Thanking you,

Yours faithfully,

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Encl: As Above

Sandhar Technologies Limited

Corporate Office: 13, Sector-44, Gurugram-122 002, Haryana, India. Ph: 12-4518900 Registered Office: B-6/20, L.S.C., Safdarjung Enclave, New Delhi-110 029, India, Ph: +91-11-40511800 E-mail: [email protected], website: www.sandhargroup.com; CIN-L74999DL1987PLC029553

CONSOLIDATED RELATED PARTY TRANSACTIONS

Consolidated Disclosure of Related Party Transactions for the year ended March 31, 2021

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 and Investment Limited
Raasaa Retail Private Limited
Haridwar Estates Private Limited
Supanavi Trading Private Limited
Joint Ventures Indo Toolings Private Limited (up-to 9 October 2020)
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
Sandhar Han Shin Automotive Private Limited
(underprocess of Strikingoff)
Kwangsung Sandhar Automotive Systems Private Limited
Sandhar Han Shin Auto Technologies Private Limited
Sandhar Daeshin Technologies Private Limited
(w.e.f. 29 July2020)
Sandhar Autotech Private Limited
(w.e.f. 27 January2021)
Daewha India Private Limited (w.e.f. 29 January 2021)
Individual owning an interest in the voting power
of reporting enterprise that gives them significant
influence over the Company		 Mr. Jayant Davar
Key Managerial Personnel Mr. Jayant Davar (Co-Chairman-and-Managing Director)
Mr. Arvind Joshi (Whole time Director, C.F.O. &
Company Secretary) (resigned w.e.f. 10th May 2020)
Mr. Narender Kumar Dogra (Chief Financial Officer)
(w.e.f. 11th May 2020 to 31st July 2020)
Mr. Puru Aggarwal (Chief Financial Officer appointed
w.e.f. 1st August 2020) (Whole Time Director w.e.f. 6
November 2020) (Resigned w.e.f. 26th February2021)
Mr. Yashpal Jain (Chief Financial Officer)
(appointed w.e.f. 16th March 2021)
Ms. Subhi Gupta (Company Secretary) (appointed w.e.f.
11th May 2020 to 6th November 2020)
Mrs. Komal Malik (Company Secretary) (appointed w.e.f.
6th November 2020)
Relatives of Key Managerial Personnel and
relatives of Individual owning an interest in the
voting power of reporting enterprise that gives
them significant influence over the Company		 Mr. D. N. Davar (Chairman)
Mrs. Monica Davar
Mr. Neel Jay Davar
Mrs. Santosh Davar
Mrs. Poonam Juneja
Mrs. Urmila Joshi
Mrs. Minakshi Aggarwal
Enterprises
over
which
relatives
of
Key
Managerial Personnel are able to exercise
significant influence		 Swaran Enterprises (Mrs. Santosh Davar is a Partner)
Shorah 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.

(₹ in Lacs)
For the year ended
31 March 2020
2,815.79
180.35
Nature of
transaction		 Name of related
party		 Relationship For the year ended
31 March 2021		 For the year ended
31 March 2020
Purchase of
Goods		 Swaran Enterprises Enterprises over which
relatives of Key
Managerial Personnel
are able to exercise
significant influence		 2,676.12 2,815.79
Sandhar Daewha
Automotive Systems
Private Limited		 Joint Venture of
Reporting Enterprises		 332.06 180.35
Sandhar Han Sung
Technologies Private
Limited		 Joint Venture of
Reporting Enterprises		 230.56 180.22
Sandhar Whetron
Electronics Private
Limited		 Joint Venture of
Reporting Enterprises		 13.89 -
Sandhar Amkin
Industries Private
Limited		 Joint Venture of
Reporting Enterprises		 34.64 -
Sale of goods Sandhar Han Sung
Technologies Private
Limited		 Joint Venture of
Reporting Enterprises		 27.05 27.93
Sandhar Daewha
Automotive Systems
PrivateLimited		 Joint Venture of
Reporting Enterprises		 10.65 13.58
Sandhar Amkin
Industries Private
Limited		 Joint Venture of
Reporting Enterprises		 138.27 216.09
Swaran Enterprises Enterprises over which
relatives of Key
Managerial Personnel
are able to exercise
significant influence		 1.61 2.27
Sale of Property
Plant and
Equipment		 Kwangsung Sandhar
Automotive Systems
PrivateLimited		 Joint Venture of
Reporting Enterprises		 3.46 -
Sandhar Daewha
Automotive Systems
PrivateLimited		 Joint Venture of
Reporting Enterprises		 - 0.94
Sandhar Whetron
Electronics Private
Limited		 Joint Venture of
Reporting Enterprises		 - 0.04
Winnercom Sandhar
Technologies Private
Limited		 Joint Venture of
Reporting Enterprises		 - 205.74
Sandhar Han Shin
Auto Technologies
PrivateLimited		 Joint Venture of
Reporting Enterprises		 0.83 0.97
Purchase of
Property Plant
and Equipment		 Sandhar Han Sung
Technologies Private
Limited		 Joint Venture of
Reporting Enterprises		 - 56.26
Indo Toolings Private
Limited		 Joint Venture of
ReportingEnterprises		 3.09 -
Sandhar Intelli Glass
Solutions Limited		 Enterprises under
Common control		 - 113.99
Sandhar Ecco Green
Energy Private
Limited		 Joint Venture of
Reporting Enterprises		 0.17 -
Reimbursement
of expenses
from		 Sandhar Han Sung
Technologies Private
Limited		 Joint Venture of
Reporting Enterprises		 100.27 103.98
Sandhar Infosystems
Limited		 Enterprises under
Common control with
the Reporting
Enterprises		 0.01 0.01
Jinyoung Sandhar
Mechatronics Private
Limited		 Joint Venture of
Reporting Enterprises		 19.82 10.17
Sandhar Han Shin
Automotive Private
Limited		 Joint Venture of
Reporting Enterprises		 - 15.98
Sandhar Daewha
Automotives Systems
Pvt Ltd		 Joint Venture of
Reporting Enterprises		 7.80 51.77
Sandhar Amkin
Industries Pvt Limited		 Joint Venture of
Reporting Enterprises		 23.94 34.52
Sandhar Ecco Green
Energy Private
Limited		 Joint Venture of
Reporting Enterprises		 0.13 -
Sandhar Whetron
Electronics Private
Limited		 Joint Venture of
Reporting Enterprises		 49.37 85.88
Kwangsung Sandhar
Technologies Private
Limited		 Joint Venture of
Reporting Enterprises		 7.50 2.42
Winnercom Sandhar
Technologies Private
Limited		 Joint Venture of
Reporting Enterprises		 16.65 77.19
Kwangsung Sandhar
Automotive Systems
Private Limited		 Joint Venture of
Reporting Enterprises		 2.78 0.38
Sandhar Han Shin
Auto Technologies
PrivateLimited		 Joint Venture of
Reporting Enterprises		 39.81 20.89
Lease rentals
(including GST/
Service Tax)
paid to		 Sandhar Estates
Private Limited		 Enterprises under
Common control with
the Reporting
Enterprises		 32.70 32.70
Jubin Finance and
Investment Limited		 Enterprises under
Common control with
the Reporting
Enterprises		 290.72 268.36
Urmila Joshi Key Managerial
Personnel & their
relatives		 0.51 9.14
Minakshi Aggarwal Key Managerial
Personnel & their
relatives		 49.64 -
Jayant Davar Key Managerial
Personnel & their
relatives		 7.89 6.00
Shorah Realty LLP Enterprises over which
relatives
of
Key
Managerial
Personnel
are able to exercise
significant influence		 0.71 0.59
Lease rentals
(including GST/		 Winnercom Sandhar
Technologies Private
Limited		 Joint Venture of
Reporting Enterprises		 26.36 15.05
Service Tax)
received from		 Sandhar Han Sung
Technologies Private
Limited		 Joint Venture of
Reporting Enterprises		 23.04 23.30
Sandhar Daewha
Automotive Systems
Private Limited		 Joint Venture of
Reporting Enterprises		 0.28 0.28
Jinyoung Sandhar
Mechatronics Private
Limited		 Joint Venture of
Reporting Enterprises		 - 2.40
Sandhar Whetron
Electronics Private
Limited		 Joint Venture of
Reporting Enterprises		 12.60 -
Dividend
Received from		 Indo Toolings Private
Limited		 Joint Venture of
Reporting Enterprises		 113.05 33.30
Service Given Sandhar Amkin
Industries Private
Limited		 Joint Venture of
Reporting Enterprises		 - 2.37
Winnercom Sandhar
Technologies Private
Limited		 Joint Venture of
Reporting Enterprises		 - 14.06
Sandhar Daewha
Automotive Systems
Private Limited		 Joint Venture of
Reporting Enterprises		 - 6.41
Sandhar Whetron
Electronics Private
Limited		 Joint Venture of
Reporting Enterprises		 17.02 -
Service
Received		 Indo Toolings Private
Limited		 Joint Venture of
Reporting Enterprises		 0.69 -
Sandhar Han Sung
Technologies Private
Limited		 Joint Venture of
Reporting Enterprises		 3.53 -
Interest
Received		 Sandhar Daewha
Automotive Systems
Private Limited		 Joint Venture of
Reporting Enterprises		 14.78 3.77
Sandhar Amkin
Industries Private
Limited		 Joint Venture of
Reporting Enterprises		 28.50 32.94
Sandhar Whetron
Electronics Private
Limited		 Joint Venture of
Reporting Enterprises		 - 0.08
Kwangsung Sandhar
Automotive Systems
Private Limited		 Joint Venture of
Reporting Enterprises		 0.58 -
Kwangsung Sandhar
Technologies Private
Limited		 Joint Venture of
Reporting Enterprises		 1.07 -
Sandhar Han Sung
Technologies Pvt.
Ltd.		 Joint Venture of
Reporting Enterprises		 - 1.66
Managerial
remuneration		 Jayant Davar Key Managerial
Personnel & their
relatives		 459.27 476.27
Arvind Joshi Key Managerial
Personnel & their
relatives		 7.20 172.73
Narender Kumar
Dogra		 Key Managerial
Personnel & their
relatives		 7.86 47.41
Puru Aggarwal Key Managerial
Personnel & their
relatives		 69.50 -
Yashpal Jain Key Managerial
Personnel & their
relatives		 5.25 -
Komal Malik Key Managerial
Personnel & their
relatives		 9.27 -
Subhi Gupta Key Managerial
Personnel & their
relatives		 2.44 -
Dividend paid Jayant Davar Key Managerial
Personnel & their
relatives		 627.80 781.56
Others Enterprises under
Common control with
the Reporting
Enterprises		 102.42 128.88
Others Key Managerial
Personnel & their
relatives		 117.33 146.67
Investment in
JV's		 Sandhar Han Sung
Technologies Private
Limited		 Joint Venture of
Reporting Enterprises		 254.93 679.39
Sandhar Daewha
Automotives System
Pvt Ltd		 Joint Venture of
Reporting Enterprises		 120.00 15.00
Sandhar Amkin
Industries Pvt Ltd		 Joint Venture of
ReportingEnterprises		 700.00 287.00
Kwangsung Sandhar
Technologies Private
Limited		 Joint Venture of
Reporting Enterprises		 898.85 108.52
Sandhar Whetron
Electronics Private
Limited		 Joint Venture of
Reporting Enterprises		 149.34 633.49
Sandhar Han Shin
Automotive Private
Limited		 Joint Venture of
Reporting Enterprises		 - 1.00
Sandhar Han Shin
Auto Technologies
PrivateLimited		 Joint Venture of
Reporting Enterprises		 75.00 199.99
Winnercom Sandhar
Technologies Private
Limited		 Joint Venture of
Reporting Enterprises		 - 400.00
Sandhar Daeshin
Technologies Private
Limited		 Joint Venture of
Reporting Enterprises		 1.00 -
Jinyoung Sandhar
Mechatronics Private
Limited		 Joint Venture of
Reporting Enterprises		 436.80 -
Loan &
Advances Given
to		 Sandhar Daewha
Automotive Systems
PrivateLimited		 Joint Venture of
Reporting Enterprises		 105.44 88.18
Sandhar Amkin
Industries Private
Limited		 Joint Venture of
Reporting Enterprises		 505.00 400.00
Sandhar Whetron
Electronics Private
Limited		 Joint Venture of
Reporting Enterprises		 - 16.00
Kwangsung Sandhar
Automotive Systems
Private Limited		 Joint Venture of
Reporting Enterprises		 95.00 -
Kwangsung Sandhar
Technologies Private
Limited		 Joint Venture of
Reporting Enterprises		 165.00 -
Sandhar Han Sung
Technologies Private
Limited		 Joint Venture of
Reporting Enterprises		 - 100.78
Balances Outstanding
Nature of
Balances
outstanding		 Name of related party Relationship For the year ended
31 March 2021		 For the year ended
31 March 2020
Outstanding
Receivable		 Sandhar Han Sung
Technologies Private
Limited		 Joint Venture of
Reporting Enterprises		 11.13 -
Haridwar Estates
Private Limited		 Enterprises
under
Common control with
the
Reporting
Enterprises		 130.77 130.77
Jinyoung Sandhar
Mechatronics Private
Limited		 Joint Venture of
Reporting Enterprises		 0.10 0.06
Sandhar Daewha
Automotives System
Pvt Ltd		 Joint Venture of
Reporting Enterprises		 214.54 145.66
Sandhar Amkin
Industries Pvt Ltd		 Joint Venture of
ReportingEnterprises		 509.74 486.15
Sandhar Whetron
ElectronicsPvt Ltd		 Joint Venture of
ReportingEnterprises		 1.09 0.92
Kwangsung Sandhar
Technologies Pvt Ltd		 Joint Venture of
Reporting Enterprises		 - 0.01
Sandhar Infosystems
Limited		 Enterprises under
common control		 - 0.001
Sandhar Han Shin
Automotive Pvt Ltd		 Joint Venture of
Reporting Enterprises		 - 5.98
Kwangsung Sandhar
Automotive Systems
PrivateLimited		 Joint Venture of
Reporting Enterprises		 0.24 0.15
Sandhar Han Shin
Auto Technologies
PrivateLimited		 Joint Venture of
Reporting Enterprises		 0.12 14.08
Winnercom Sandhar
TechnologiesPvt Ltd		 Joint Venture of
ReportingEnterprises		 - 5.88
Outstanding
Payable		 Swaran Enterprises Enterprises over which
relatives of Key
Managerial Personnel
are able to exercise
significant influence		 373.29 291.92
Sandhar Han Sung
Technologies Pvt Ltd		 Joint Venture of
ReportingEnterprises		 - 30.98
Shorah Realty LLP Enterprises over which
relatives
of
Key
Managerial
Personnel
are able to exercise
significant influence		 - 0.12
Indo Toolings Private
Limited		 Joint Venture of
ReportingEnterprises		 - 12.30
Urmila Joshi Key Managerial
Personnel & their
relatives		 - 0.76
Winnercom Sandhar
Technologies Private
Limited		 Joint Venture of
Reporting Enterprises		 0.05 -
Security deposit
given to		 Sandhar Estates Private
Limited		 Enterprises under
Common control with
the Reporting
Enterprises		 36.00 36.00
Jubin Finance and
Investment Limited		 Enterprises under
Common control with
the Reporting
Enterprises		 98.88 98.88
Security deposit
received		 Winnercom Sandhar
Technologies Private
Limited		 Joint Venture of
Reporting Enterprises		 5.97 -
Managerial
Remuneration
Payable		 Jayant Davar Key Managerial
Personnel & their
relatives		 361.82 333.56
Yashpal Jain Key Managerial
Personnel & their
relatives		 5.25 -
Narender Kumar
Dogra		 Key Managerial
Personnel & their
relatives		 - 2.89
Arvind Joshi Key Managerial
Personnel & their
relatives		 - 46.66
Corporate
Guarantee/
standby letter of
credit given to		 Sandhar Han Sung
Technologies Private
Limited		 Joint Venture of
Reporting Enterprises		 919.69 -
Sandhar Amkin
IndustriesPrivateLtd		 Joint Venture of
ReportingEnterprises		 700.00 -
Investment
outstanding in
JV's		 Indo Toolings Private
Limited		 Joint Venture of
ReportingEnterprises		 - 352.50
Sandhar Han Sung
Technologies Private
Limited		 Joint Venture of
Reporting Enterprises		 1,854.18 1,599.25
Sandhar Ecco Green
Energy Private
Limited*		 Joint Venture of
Reporting Enterprises		 222.48 222.48
Jinyoung Sandhar
Mechatronics Private
Limited		 Joint Venture of
Reporting Enterprises		 1,336.87 900.07
Sandhar Daewha
Automotives System
Pvt Ltd		 Joint Venture of
Reporting Enterprises		 1,617.31 1,497.31
Sandhar Amkin
Industries Private Ltd		 Joint Venture of
Reporting Enterprises		 1,532.00 832.00
Sandhar Daeshin Auto
Systems Private
Limited		 Joint Venture of
Reporting Enterprises		 1.07 1.07
Sandhar Whetron
Electronics Private
Limited		 Joint Venture of
Reporting Enterprises		 832.41 683.07
Kwangsung Sandhar
Technologies Private
Limited		 Joint Venture of
Reporting Enterprises		 1,008.37 109.52
Winnercom Sandhar
Technologies Private
Limited		 Joint Venture of
Reporting Enterprises		 400.00 400.00
Sandhar Han Shin
Automotive Private
Limited**		 Joint Venture of
Reporting Enterprises		 - 1.00
Sandhar Han Shin
Auto Technologies
Private Limited		 Joint Venture of
Reporting Enterprises		 275.00 199.99
Sandhar Daeshin
Technologies Private
Limited		 Joint Venture of
Reporting Enterprises		 1.00 -

*During the year ended 31 March 2020, 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. 69.20 Lacs (31 March 2019 Rs. 74.08) Lacs was recognized in the standalone financial statements. In absence of visibility of business in the joint venture, the financial statements of the JV have been prepared on non-going concern basis, where the assets and liabilities have been disclosed as a realizable basis. During the current year the Investment in joint venture has been shown at the realisable value.

**During the year ended 31 March 2021, Sandhar Han Shin Automotive Private Limited, a joint venture of the company went under liquidation. Hence company noted an impairment of investment amounting Rs. 1.00 Lacs.

C. Terms and conditions of transactions with related parties

All transactions with these related parties are priced on arm’s length basis and resulting outstanding balances at the year-end are unsecured and interest free and are to be settled in cash. The Company has not recorded any impairment

of receivables relating to amounts owed by related parties. This assessment is undertaken in each financial year through examining the financial position of the related party and the market in which the related party operates.

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