Sasken Technologies Limited — Regulatory Filings 2021

Aug 16, 2021

BSE Limited August 16, 2021 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 quarter ended June 30, 2021, drawn in accordance with the applicable accounting standards.

The financials for the quarter ended June 30, 2021 were taken on record by the Board at its meeting held on July 21, 2021.

This is for your information and records.

Thanking you,

Yours faithfully For Sasken Technologies Limited

Paawan Bhargava Company Secretary

Encl. as above

Related party disclosures as of June 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
		June 30, 2021	March 31, 2021 March 31, 2020
Subsidiaries
Sasken Finland Oy. ('Sasken Finland')	Finland	100%	100%	100%
Sasken Inc. ('Sasken Inc.')	USA	100%	100%	100%
Sasken Communication Technologies (Shanghai) Co. Ltd. ('Sasken China')	China	100%	100%	100%
Sasken Communication Technologies Mexico, S.A. de C.V ('Sasken Mexico')	Mexico	100%	100%	100%
Controlled trusts
Sasken Foundation	India	For the purpose of carrying out the CSR activities.
Sasken Employees Welfare Trust	India	For the purpose of administering Sasken Employees
			Share Based Incentive Plan 2016 and other Employee
		Welfare Plans.
Joint venturesTACO Sasken Automotive Electronics Limited ('TSAE') - Under Liquidation	India	50%	50%	50%
Other related parties			Nature of relationship
SAS Employees Provident Fund Trust	India	Post -Employment benefit plan of Sasken
Sasken Employees Gratuity Fund Trust	India	Post -Employment benefit plan of Sasken
Sasken Employees Superannuation Fund Trust	India		Post -Employment benefit plan of Sasken
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
Particulars	Quarter endedJune 30, 2021	Quarter endedMarch 31, 2021	Year endedMarch 31, 2021	Year endedMarch 31, 2020
Short term employee benefits- KMPs	244.32	222.00	884.03	467.23
Short term employee benefits- Others *	-22.50	24.00	120.50	101.70
Total	221.82	246.00	1,004.53	568.93
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 due to reversal of last year provision vs actual payment.

d) Related Party Transactions other than those with KMP:
Particulars		Transactions during
	Quarter ended	Quarter ended	Year ended	Year ended
	June 30, 2021	March 31, 2021	March 31, 2021	March 31, 2020
i) Cross charges for common administrative services
- Sasken Finland	-		6.39	7.27
- Sasken Inc.	-	11.59	70.18	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	-	-	28.35	59.70
v) Dividends received from:
- Sasken Finland	410.80			-
- Sasken Inc.	-	147.38	322.41	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	201.92			258.88
- Sasken Finland	-	-	999.81
ix) Contribution towards Corporate Social Responsibility expenditure:
- Sasken Foundation	-	10.50	95.50	15.00
x) Capital Repatriation
- Sasken China	-			377.04
Particulars		Balances outstanding as at
	Quarter ended	Quarter ended	Year ended	Year ended
	June 30, 2021	March 31, 2021	March 31, 2021	March 31, 2020
i) Loans outstanding from	-	-	-	-
- Sasken Finland	-	-	-	951.98
- Sasken Employee Welfare Trust	-	201.92	201.92	201.92
ii) Amounts receivable towards reimbursement of expenses
- Sasken China	48.23	47.41	47.49	49.11
- Sasken Inc.	-	-	1.82	7.36
- Sasken Finland	-	-	-	-
iii) Trade payables
- Sasken Mexico	2.13	2.09	2.09	2.17
- Sasken China	205.16	201.68	202.00	208.92
- Sasken Inc.	-	-		13.57
- Sasken Finland	-	-		8.06
iv) Deferred revenue
- Sasken Inc.	-			-
v) Trade receivables
- Sasken Inc.	-	-		10.42
vi) Unbilled and contract revenues
- Sasken Inc.	-	-		9.32