Sasken Technologies Limited — Regulatory Filings 2021

Nov 5, 2021

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BSE Limited, Dept. of Corporate Services – CRD, P. J. Towers, Dalal Street, Mumbai - 400 001

November 05, 2021

National Stock Exchange of India Limited, Exchange Plaza, C-1, Block - G, Bandra Kurla Complex, Bandra (East), Mumbai - 400 051 By Web upload

Dear Sir / Ma’am,

Sub: Statement 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 quarter and half year ended September 30, 2021, drawn in accordance with the applicable accounting standards.

The financials for the quarter and half year ended September 30, 2021 were taken on record by the Board at its meeting held on October 21, 2021.

This is for your information and records.

Thanking you,

Yours faithfully For Sasken Technologies Limited

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Paawan Bhargava Company Secretary

Encl.: As above

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Sasken Technologies Limited

139/25, Ring Road, Domlur, Bengaluru 560071, India T: +91 80 6694 3000, F: +91 80 2535 1133, E: info@sasken.com CIN: L72100KA1989PLC014226 | www.sasken.com

SASKEN TECHNOLOGIES LIMITED	SASKEN TECHNOLOGIES LIMITED	SASKEN TECHNOLOGIES LIMITED	SASKEN TECHNOLOGIES LIMITED	SASKEN TECHNOLOGIES LIMITED
Related party disclosures as of September 30, 2021 Amount in Rs. lakhs
a) Following is the list of subsidiaries / controlled trust / joint ventures / other related parties of the Company:
Particulars	Country of Incorporation	Ownership interest as at
		September 30, 2021	June 30, 2021	March 31, 2021
Subsidiaries Sasken Finland Oy. (‘Sasken Finland’) Sasken Inc. (‘Sasken Inc.’) Sasken Communication Technologies (Shanghai) Co. Ltd. (‘Sasken China’)* Sasken Communication Technologies Mexico, S.A. de C.V (‘Sasken Mexico’)	Finland USA China Mexico	100% 100% 100% 100%	100% 100% 100% 100%	100% 100% 100% 100%
*The liquidation process of Sasken Communication Technologies (Shanghai) Co. Ltd (‘Sasken China’) has been completed as per the Chinese regulations during the current quarter and remittance of bank balances to the extent of Rs. 1.80 crores of Sasken China was initiated to Sasken Technologies Limited ('Sasken India') on 29th September 2021 and was received in India on 5th October 2021.
Controlled Trusts
Sasken Foundation Sasken Employees Welfare Trust	India India	For the purpose of carrying out the CSR activities. For the purpose of administering Sasken Employees Share Based Incentive Plan 2016 and other Employee Welfare Plans.
Joint ventures TACO Sasken Automotive Electronics Limited (‘TSAE’) - Under Liquidation **	India	-	50%	50%
** Shares held by Sasken Technologies Limited were transferred to Sasken Employees Welfare Trust (52,00,403 Equity Shares of Rs.10 each and 24,78,000 Redeemable Preference shares of Rs.10 Each) on 27th September 2021.
Other related parties		Nature of relationship
SAS Employees Provident Fund Trust Sasken Employees Gratuity Fund Trust Sasken Employees Superannuation Fund Trust	India India India	Post-Employment benefit plan of Sasken Post-Employment benefit plan of Sasken Post-Employment benefitplan of Sasken
b) Following is the list of other relatedparties:
Name of the relatedparty	Relationship
(i) Key Managerial Personnel ('KMP'): Rajiv C. Mody Neeta S. Revankar S. Prasad Paawan Bhargava	Whole-time Director and Chief Financial Officer CompanySecretary (w.e.f. August 01,2021) AVP & Company Secretary (Till July 31, 2021) Chairman and Managing Director
(ii) Parties other than KMPs: Bharat V. Patel Madhu Khatri Pranabh D. Mody Sanjay M. Shah Sunirmal Talukdar Dr. G. Venkatesh	Independent Director Independent Director Independent Director Independent Director Non-executive Director Independent Director
c) Related party compensation
Particulars	Quarter ended September 30, 2021	Quarter ended June 30, 2021	Quarter ended March 31, 2021	Year ended March 31, 2021
Short term employee benefits-KMPs Short term employee benefits-Others *Total	264.78 27.00 291.78	244.32 -22.50 221.82	222.00 24.00 246.00	884.03 120.50 1,004.53
Post-employment benefits comprising gratuity and compensated absences are not disclosed as these are determined for the Company as a whole.
*** 'Short term employee benefits-Others'is negative in June 2021 quarter due to reversal of last year provision vs. actual payment.

d) Related Party Transactions other than those with KMP (Wholly Owned Subsidiaries/Joint Ventures/Trusts):	d) Related Party Transactions other than those with KMP (Wholly Owned Subsidiaries/Joint Ventures/Trusts):	d) Related Party Transactions other than those with KMP (Wholly Owned Subsidiaries/Joint Ventures/Trusts):	d) Related Party Transactions other than those with KMP (Wholly Owned Subsidiaries/Joint Ventures/Trusts):	d) Related Party Transactions other than those with KMP (Wholly Owned Subsidiaries/Joint Ventures/Trusts):
Particulars	Transactions during
	Quarter ended September 30, 2021	Quarter ended June 30, 2021	Quarter ended March 31, 2021	Year ended March 31, 2021
i) Cross charges for common administrative services - Sasken Finland - Sasken Inc. ii) Software development services rendered to: - Sasken Inc. iii) Software Development Services procured from - Sasken Finland - Sasken Inc. iv) Interest earned on loan given to - Sasken Finland v) Dividends received from: - Sasken Finland - Sasken Inc. - Sasken China vi) Investments in Subsidiaries and Joint Ventures during the year - Sasken Inc. vii) Loans repaid: - Sasken Employees Welfare Trust - Sasken Finland viii) Contribution towards Corporate Social Responsibility expenditure: - Sasken Foundation ix) Capital Repatriation -Sasken China (at the current exchange rate)	- - - - - - 131.98 - - - - - - 180.05	- - - - - - 410.80 - - - 201.92 - - -	11.59 - - - - - 147.38 - - - - 10.50 -	6.39 70.18 14.50 - 40.41 28.35 - 322.41 - - - 999.81 95.50 -
Particulars	Balances outstanding as at
	Quarter ended September 30, 2021	Quarter ended June 30, 2021	Quarter ended March 31, 2021	Year ended March 31, 2021
i) Loans outstanding from - Sasken Finland - Sasken Employees Welfare Trust ii) Amounts receivable towards reimbursement of expenses - Sasken China - Sasken Inc. - Sasken Finland iii) Trade payables - Sasken Mexico - Sasken China - Sasken Inc. - Sasken Finland iv) Deferred revenue - Sasken Inc. v) Trade receivables - Sasken Inc. vi) Unbilled and contract revenues -Sasken Inc.	- - 48.22 - - 2.13 205.11 - - - - -	- - 48.23 - - 2.13 205.16 - - - - -	- 201.92 47.41 - - 2.09 201.68 - - - - -	- 201.92 47.49 1.82 - 2.09 202.00 - - - - -