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Sasken Technologies Limited Interim / Quarterly Report 2021
60736_rns_2020-11-11_204fce67-7cf5-486e-ad30-efcaeef81ea2.pdf
Interim / Quarterly Report
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BSE Limited November 9, 2020 Dept. of Corporate Services - CRD Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai-400 001
National Stock Exchange of India Limited Exchange Plaza, C-1, Block - G, Bandra Kurla Complex, Bandra (E) Mumbai-400 051 By Web Upload
Dear Sir / Ma'am,
Sub: Submission of Disclosure on Related Party Transactions Ref: Scrip Code 532663/ SASKEN
Pursuant to Regulation 23(9) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby submit disclosure of Related Party Transactions on consolidated basis for the period ended September 30, 2020, drawn in accordance with the applicable accounting standards.
The financials for the half year ended September 30, 2020 were taken on record by the Board at its meeting held on October 21, 2020.
This is for your information and records.
Thanking you,
Yours faithfully For Sasken Technologies Limited
S. Prasad Associate Vice President & Company Secretary
Sasken Technologies Limited
| a) Following is the list of subsidiaries / controlled trust / joint ventures / other related parties of the Company: | Amount in Rs. Lakhs | ||
|---|---|---|---|
| Particulars | Country of | Ownership interest as at | |
| Incorporation | September 30, 2020 | March 31, 2020 | |
| Subsidiaries | |||
| Sasken Finland Oy. ('Sasken Finland') | Finland | 100% | 100% |
| Sasken Inc. ('Sasken Inc.') | USA | 100% | 100% |
| Sasken Communication Technologies (Shanghai) Co. Ltd. ('Sasken China') China | 100% | 100% | |
| Sasken Communication Technologies Mexico, S.A. de C.V ('Sasken | Mexico | 100% | 100% |
| Mexico') | |||
| Controlled trusts | |||
| Sasken Foundation | India | ||
| Sasken Employees Welfare Trust | India | ||
| Joint ventures | |||
| TACO Sasken Automotive Electronics Limited ('TSAE') - Under | India | 50% | 50% |
| Liquidation | |||
| Other related partiesSAS Employees Provident Fund Trust | India | Nature of relationshipPost -Employement benefit plan of | |
| Sasken Employees Gratuity Fund Trust | India | Post -Employement benefit plan of | |
| Sasken Employees Superannuation Fund Trust | India | Post -Employement benefit plan of | |
| b) Following is the list of other related parties: | |||
| Name of the related party | Relationship | ||
| (i) Key Managerial Personnel ('KMP'): | |||
| Rajiv C Mody | Chairman and Managing Director | ||
| Neeta S. Revankar | Whole-time Director and Chief Financial Officer | ||
| S. Prasad | Company Secretary | ||
| (ii) Parties other than KMPs: | |||
| Bharat Patel | Independent Director | ||
| Sanjay M Shah | Independent Director | ||
| Sunirmal Talukdar | Independent Director | ||
| Pranabh D. Mody | Non-executive Director | ||
| Madhu Khatri | Independent Director | ||
| G. Venkatesh | Non-executive Director | ||
| c) Related party compensation | Half Year ended | Year ended | |
| Particulars | March 31, 2020 | ||
| September 30, | |||
| Short term employee benefits- KMPs | 405.09 | 467.23 | |
| Short term employee benefits- OthersTotal | 62.00467.09 | 101.70568.93 |
| d) Related Party Transactions other than those with KMP: | |||
|---|---|---|---|
| Particulars | Transactions during | ||
| Half Year ended | Year ended | ||
| September 30, | March 31, 2020 | ||
| i) Cross charges for common administrative services | |||
| - Sasken Finland | 6.39 | 7.27 | |
| - Sasken Inc. | 41.52 | 88.88 | |
| ii) Software development services rendered to: | |||
| - Sasken Inc. | 14.50 | 185.68 | |
| iii) Software Development Services procured from | |||
| - Sasken Finland | - | 21.08 | |
| - Sasken Inc | 40.41 | 102.97 | |
| iv) Interest earned on loan given to | |||
| - Sasken Finland | 25.50 | 59.70 | |
| v) Dividends received from: | |||
| - Sasken Finland | - | - | |
| - Sasken Inc. | - | 473.23 | |
| - Sasken China | - | - | |
| vi) Investments in Subsidiaries and Joint Ventures during the year | |||
| - Sasken Inc. | - | - | |
| vii) Loans given to: | |||
| - Sasken Finland- Sasken Employee Welfare Trust | -- | -- | |
| viii) Loans repaid: | |||
| - Sasken Employees welfare Trust | 258.88 | ||
| - Sasken Finland | 345.31 | ||
| ix) Contribution towards Corporate Social Responsibility expenditure: | |||
| - Sasken Foundation | 85.00 | 15.00 | |
| x) Capital Repatriation | |||
| - Sasken China | -377.04 | ||
| Particulars | Balances outstanding as at | ||
| Half Year ended | Year ended | ||
| September 30, | March 31, 2020 | ||
| i) Loans outstanding from- Sasken Finland | 647.46 | 951.98 | |
| - Sasken Employee Welfare Trust | 201.92 | 201.92 | |
| ii) Amounts receivable towards reimbursement of expenses | |||
| - Sasken China | 47.84 | 49.11 | |
| - Sasken Inc. | 18.15 | 7.36 | |
| - Sasken Finland | 3.01 | - | |
| iii) Trade payables | |||
| - Sasken Mexico | 2.11 | 2.17 | |
| - Sasken China | 203.53 | 208.92 | |
| - Sasken Inc. | 13.22 | 13.57 | |
| - Sasken Finland | 3.01 | 8.06 | |
| iv) Deferred revenue | |||
| - Sasken Inc. | - | - | |
| v) Trade receivables | |||
| - Sasken Inc. | - | 10.42 | |
| vi) Unbilled and contract revenues | |||
| - Sasken Inc. | - | 9.32 |