Trident Ltd — Regulatory Filings 2021

Jun 12, 2021

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TRIDENT/CS/2021 June 12, 2021

The Manager The Manager Listing Department Listing Department National Stock Exchange of India Limited BSE Limited Exchange Plaza, Plot No. C/1, G Block Phiroze Jeejeebhoy Towers Bandra Kurla Complex, Bandra (E) Dalal Street Mumbai – 400 051 Mumbai – 400 001 Scrip Code:- TRIDENT Scrip Code:- 521064

Dear Sir/ Madam

Sub: Disclosure under Regulation 23(9) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 – Related Party Transactions

Pursuant to Regulation 23(9) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby submit disclosures on Related Party Transactions, on consolidated basis, for the year ended March 31, 2021, drawn in accordance with applicable accounting standards.

This is for your reference and records please.

Thanking you, Yours sincerely, For Trident Limited

RAMAND Digitally signed by RAMANDEEP KAUR EEP KAUR Date: 2021.06.12 16:18:12 +05'30'

(Ramandeep Kaur) Company Secretary ICSI Membership No.: F9160

Encl: As above

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12/06/2021

TL/2021/010223

RELATED PARTY DISCLOSURES

as on March 31, 2021 (On Consolidated Basis)

The related party disclosures as per Ind AS-24 are as under:

A. Name of related party and nature of related party relationship

(i) Enterprises where control exists:

• a) Enterprises that controls the Group

• Madhuraj Foundation (directly or indirectly holds majority voting power)

(ii) Other related parties where transactions have taken place during the current year / previous year :

• a) Enterprises under the common control with the Group - Trident Capital Limited

• Trident Industrial Corp Limited

• Trident Corp Limited

• Trident Corporate Solutions Limited

• Trident Corporate Services Limited

• Trident Institute of Social Sciences

• Trident Comtrade LLP

• b) Enterprise that has significant influence over the Group

• Trident Group Limited

• c) Enterprise on which Group exercises significant influence - Trident Global, Inc. USA

• Trident Infotech, Inc. USA (ceased to be related party pursuant to its voluntary dissolution in previous year)

• Lotus Hometextiles Limited (Formerly known as Lotus Texpark Limited) (ceased to be related party w.e.f October 16, 2020)

• Narmada Infrabuild Limited

• Takshashila Foundation

• d) Key management personnel and other relatives

-	Ms. Pallavi Shardul Shroff	- Chairperson
-	Mr. Rajinder Gupta	- Co-Chairman
-	Mr. Rajiv Dewan	- Director
-	Mr. Dinesh Kumar Mittal	- Director
-	Ms. Pooja Luthra ^	- Director
-	Mr. Deepak Nanda #	- Managing Director
-	Mr. Amandeep *	- Managing Director
-	Mr. Gunjan Shroff	- CFO
-	Ms. Ramandeep Kaur	- Company Secretary
-	Mr. Abhishek Gupta	- Relative of Co-chairman
-	Ms. Madhu Gupta	- Relative of Co-chairman
-	Ms. Gayatri Gupta	- Relative of Co-chairman
-	Mr. Manish Prasad	-Director (appointed on April 1, 2019 and resigned on August 3, 2019)

• ^ appointed as Director w.e.f. April 6, 2020

• managing director till September 4, 2019 and designated as whole-time director w.e.f. September 5, 2019 and re-designated as Managing Director w.e.f. April 6, 2020 *appointed as director w.e.f. August 3, 2019 and designated as managing director w.e.f September 5, 2019 and ceased to be Managing Director w.e.f. April 6, 2020

• e) Enterprises over which KMP of the Parent Company have control

• Shardul Amarchand Mangaldas & Co.

• Lotus Global Foundation **

• Punjab Cricket Association

• Veunoia Consulting LLP***

• Punjab Engineering College

• Kognoz Research & Consulting Pvt. Ltd.****

• CJ Darcl Logistics Ltd.*

** Lotus Global Foundation has submitted the application for re-classification from "Promoter to Public Category" with BSE Limited and National Stock Exchange of India Limited on October 16, 2020, which is pending for approval as on date.

• ***became related party on October 9, 2020 and ceased to be related party w.e.f December 14, 2020

• ****became related party on April 1, 2019 and ceased to be related party w.e.f. August 3, 2019

• * became related party w.e.f August 3, 2019 and ceased to be related party w.e.f. April 6, 2020

• f) Post Employment Benefit Plans - Trident Trust

B. The remuneration of directors and other members of Key management peronnel during the year was as follows:

remuneration of directors and other members of Key management peronnel during the year was as follows:	remuneration of directors and other members of Key management peronnel during the year was as follows:	remuneration of directors and other members of Key management peronnel during the year was as follows:
(Rs. million)
Particulars	For the year ended March 31, 2021	For the year ended March 31, 2020
Short-term benefits*	291.6	334.4
	291.6	334.4

• Gratuity and leave benefits which are actuarially determined on an overall basis and are not separately provided.

C. No guarantees have been given or received except a guarantee of Nil (Previous year Rs 640.0 million) provided by the Parent Company for business purpose to Punjab National Bank on behalf of Lotus Hometextiles Limited (formerly known as Lotus Texpark Limited), associate of the Parent Company. Further, the Parent Company had executed a non-disposal undertaking in respect of equity shares held by the Parent Company of Lotus Hometextiles Limited (formerly known as Lotus Texpark Limited) in favour of a bank that have provided financial assistance to Lotus Hometextiles Limited (formerly known as Lotus Texpark Limited). During the year, the said guarantee and non-disposal undertaking has been withdrawn.

No expense has been recognised in the current or prior years for bad or doubtful debts in respect of the amounts owed by related parties

• D. The above transactions with related parties were made at arm's length price.

E. With effect from, July 18, 2019, eight companies were merged in the associate company namely 'Lotus Hometextiles Limited (formerly known as Lotus Texpark Limited)'. Hence, the transactions between the Company and said company includes transactions of merged companies with effect from the said date.

Digitally signed by ABHINAV ABHINAV GUPTA GUPTA Date: 2021.06.12 16:16:29 +05'30'

Trident Limited

F. Disclosure of transactions between the Company and relatedparties during theyear. (Rs. million)	F. Disclosure of transactions between the Company and relatedparties during theyear. (Rs. million)	F. Disclosure of transactions between the Company and relatedparties during theyear. (Rs. million)	F. Disclosure of transactions between the Company and relatedparties during theyear. (Rs. million)	F. Disclosure of transactions between the Company and relatedparties during theyear. (Rs. million)	F. Disclosure of transactions between the Company and relatedparties during theyear. (Rs. million)	F. Disclosure of transactions between the Company and relatedparties during theyear. (Rs. million)	F. Disclosure of transactions between the Company and relatedparties during theyear. (Rs. million)	F. Disclosure of transactions between the Company and relatedparties during theyear. (Rs. million)	F. Disclosure of transactions between the Company and relatedparties during theyear. (Rs. million)	F. Disclosure of transactions between the Company and relatedparties during theyear. (Rs. million)
Particulars	Enterprise that controls the Company/has significant influence over the Company		Enterprises that are under common control		Significant Influence		Key management personnel and relatives/Enterprises where KMPs' have control		Post Employment Benefit Plans
	March 31, 2021	March 31, 2020	March 31, 2021	March 31, 2020	March 31, 2021	March 31, 2020	March 31, 2021	March 31, 2020	March 31, 2021	March 31, 2020
Sale of Goods (including taxes) - Trident Global Inc., USA - Lotus Hometextiles Limited (Formerly known as Lotus Texpark Limited)*/**	- -	- -	- -	- -	222.4 304.6	65.7 252.9	- -	- -	- -	- -
Royalty paid (including taxes) - Trident GroupLimited	34.6	49.4	-	-	-	-	-	-	-	-
Rent received - Lotus Hometextiles Limited (Formerly known as Lotus Texpark Limited) - Trident Institute of Social Sciences - Rajinder Gupta	- - -	- - -	- - -	- 0.4 -	- - -	0.1 - -	- - 0.9	- - 0.9	- - -	- - -
Purchases (including taxes) - Lotus Hometextiles Limited (Formerly known as Lotus Texpark Limited)	-	-	-	-	407.1	397.0	-	-	-	-
Job Charges (including taxes) - Lotus Hometextiles Limited (Formerly known as Lotus Texpark Limited)	-	-	-	-	16.0	28.1	-	-	-	-
Reimbursement towards property plant and equipment - Trident GroupLimited	0.1	-	-	-	-	-	-	-	-	-
Consultancy Services taken*** - Kognoz Research & Consulting Pvt Ltd - Lotus Hometextiles Limited (Formerly known as Lotus Texpark Limited) - Veunoia Consulting LLP - Shardul Amarchand Mangaldas & Co.	- - - -	- - - -	- - - -	- - - -	- 1.1 - -	- 21.2 - -	- - 1.8 4.3	9.5 - - 3.1	- - -	- - -
Advertisement and business promotion - Punjab Cricket Association	-	-	-	-	-	-	3.3	-	-	-
Freight expense - CJDarcl Logistics Ltd	-	-	-	-	-	-	-	2.1	-	-
Labour charges - Lotus Hometextiles Limited (Formerly known as Lotus Texpark Limited)** Other Income (Infrastructural Charges)** - Lotus Hometextiles Limited (Formerly known as Lotus Texpark Limited)	- -	- -	- -	- -	- 1.2	13.2 1.1	- -	- -	- -	- -
Purchase of Property, Plant & Equipment - Lotus Hometextiles Limited (Formerly known as Lotus Texpark Limited) - Narmada Infrabuild Limited	- -	- -	- -	- -	- -	1.1 1.0	- -	- -	- -	- -
Contribution towards Gratuity & Risk Management Fund (net) - Trident Trust	-	-	-	-	-	-	-	-	163.8	193.1
Payment against lease liabilities (including taxes and interest) - Madhuraj Foundation - Lotus Global Foundation - Lotus Hometextiles Limited (Formerly known as Lotus Texpark Limited)	17.7 - -	17.7 - -	- - -	- - -	- - 10.0	- - 14.3	- 10.9 -	- 10.6 -	- - -	- - -
Commission on sales - Trident Global Inc.,USA	-	-	-	-	135.5	171.8	-	-	-	-
Commission paid (on accrual basis) * - Mr.Rajinder Gupta - Mr.Dinesh Kumar Mittal	- -	- -	- -	- -	- -	- -	214.8 5.0	226.0 5.0	- -	- -
Sitting Fees Paid - Mr.Rajinder Gupta - Ms. Pallavi Shardul Shroff - Mr.Dinesh Kumar Mittal - Mrs.Pooja Luthra	- - -	- - -	- - -	- - -	- - -	- - -	0.6 0.5 0.4 0.3	0.6 0.4 0.2 -	- - -	- - -

ABHINAV Digitally signed by ABHINAV GUPTA GUPTA Date: 2021.06.12 16:16:53 +05'30'

F. Disclosure of transactions between the Company and relatedparties during theyear. (Rs. million)	F. Disclosure of transactions between the Company and relatedparties during theyear. (Rs. million)	F. Disclosure of transactions between the Company and relatedparties during theyear. (Rs. million)	F. Disclosure of transactions between the Company and relatedparties during theyear. (Rs. million)	F. Disclosure of transactions between the Company and relatedparties during theyear. (Rs. million)	F. Disclosure of transactions between the Company and relatedparties during theyear. (Rs. million)	F. Disclosure of transactions between the Company and relatedparties during theyear. (Rs. million)	F. Disclosure of transactions between the Company and relatedparties during theyear. (Rs. million)	F. Disclosure of transactions between the Company and relatedparties during theyear. (Rs. million)	F. Disclosure of transactions between the Company and relatedparties during theyear. (Rs. million)	F. Disclosure of transactions between the Company and relatedparties during theyear. (Rs. million)
Particulars - Mr.Rajiv Dewan - Mr.Manish Parsad	Enterprise that controls the Company/has significant influence over the Company		Enterprises that are under common control		Significant Influence		Key management personnel and relatives/Enterprises where KMPs' have control		Post Employment Benefit Plans
	March 31, 2021 - -	March 31, 2020 - -	March 31, 2021 - -	March 31, 2020 - -	March 31, 2021 - -	March 31, 2020 - -	March 31, 2021 0.8 -	March 31, 2020 0.8 0.1	March 31, 2021 - -	March 31, 2020 - -
Remuneration paid - Mr.Deepak Nanda - Ms.Ramandeep Kaur - Mr.Abhishek Gupta - Ms. Madhu Gupta - Ms. Gayatri Gupta - Mr.Amandeep - Mr.Gunjan Shroff	- - - - - - -	- - - - - - -	- - - - - - -	- - - - - - -	- - - - - - -	- - - - - - -	18.2 5.4 18.2 6.9 5.1 0.5 17.6	23.2 4.7 23.2 7.0 4.7 23.2 17.4	- - - - - - -	- - - - - - -
Dividend paid (on payment basis) - Trident Capital Limited - Madhuraj foundation - Trident Group Limited - Trident Industrial Corp Limited - Trident Corp Limited - Trident Corporate Solutions Limited - Trident Corporate Services Limited - Lotus Global Foundation - Trident Comtrade LLP - Mr. Rajinder Gupta - Mr. Rajiv Dewan - Mr. Gunjan Shroff - Ms. RamandeepKaur **	- - - - - - - - - - - - -	- 600.6 687.4 - - - - - - - - - -	- - - - - - - - - - - - -	79.1 - - 129.6 6.4 4.4 4.4 - 0.1 - - - -	- - - - - - - - - - - - -	- - - - - - - - - - - - -	- - - - - - - - - - - - -	- - - - - - - 3.4 - 4.7 0.1 0.1 0.0	- - - - - - - - - - - - -	- - - - - - - - - - - - -
Corporate social responsibility expenses - Trident Institute of Social Sciences -Punjab Engineering College - Takshashila foundation	- - -	- - -	51.5 - -	23.6 - -	- 0.5 -	- - 32.4	- - -	- - -	- - -	- - -
Loss on disposal of non-current investments Trident Infotech Inc., USA	-	-	-	-	-	0.2	-	-	-	-
Expenses incurred on behalf of: - Lotus Hometextiles Limited (Formerly known as Lotus Texpark Limited)	-	-	-	-	79.5	161.3	-	-	-	-
Securities received: - CJ Darcl Logistics Ltd	-	-	-	-	-	0.1	-	-	-	-
Guarantees given: - Lotus Hometextiles Limited (Formerly known as Lotus Texpark Limited)	-	-	-	-	-	640.0	-	-	-	-
Guarantees withdrawn: - Lotus Hometextiles Limited (Formerly known as Lotus Texpark Limited)	-	-	-	-	640.0	811.4	-	-	-	-

• Included in legal and professional expenses in note 30

** Dividend paid is less than Rs 0.1 million, accordingly appearing as Nil in last year in case of Ramandeep Kaur.

*** includes consultancy related to project of Nil (Previous year Rs 14.2 million) included under capital work in progress.

* includes sales (includes taxes) of Rs 173.7 million (Previous year 179.3 million) represents sale of fabric which has been netted off with purchases as the same is interlinked transacti ** includes sales (includes taxes) of Rs 124.4 million (Previous year Rs 32.1 million) represents sale of raw material which has been netted off with purchases.

** includes labour charges capitalised related to project of Nil (Previous year Rs 8.8 million).

ABHINAV Digitally signed by ABHINAV GUPTA GUPTA Date: 2021.06.12 16:17:09 +05'30'

Trident Limited

G. Details of Balances outstanding as atyear end	(Rs. million)	(Rs. million)	(Rs. million)	(Rs. million)	(Rs. million)	(Rs. million)	(Rs. million)	(Rs. million)	(Rs. million)	(Rs. million)
Particulars	Enterprise that controls the Company/have significant influence over the Company		Enterprises that are under common control		Significant Influence		Key management personnel and relatives/Enterprises where KMPs' have control		Post Employment Benefit Plans
	March 31, 2021	March 31, 2020	March 31, 2021	March 31, 2020	March 31, 2021	March 31, 2020	March 31, 2021	March 31, 2020	March 31, 2021	March 31, 2020
Security deposit receivable (at amorised cost) - Lotus Hometextiles Limited (Formerly known as Lotus Texpark Limited)	-	-	-	-	-	35.8	-	-	-	-
Trade receivables: - Trident Global Inc., USA - Lotus Hometextiles Limited (Formerly known as Lotus Texpark Limited)	- -	- -	- -	- -	174.1 -	42.4 14.2	- -	- -	- -	- -
Lease liabilities (at amortised cost) - Madhuraj Foundation - Lotus Global Foundation - Lotus Hometextiles Limited (Formerly known as Lotus Texpark Limited)	- - -	- - -	- - -	- - -	86.0 102.6 -	93.0 102.7 86.3	- - -	- - -	- - -	- - -
Trade payables: - Madhuraj foundation - Trident Group Limited - Punjab Cricket Association - Trident Global Inc., USA - Lotus Hometextiles Limited (Formerly known as Lotus Texpark Limited) - Lotus Global Foundation - Shardul Amarchand Mangaldas	0.2 6.9 - - - - -	2.7 5.2 - - - - -	- - - - - - -	- - - - - - -	- - - - - - -	- - - 9.3 23.1 - -	- - 0.3 - - 0.1 -	- - - - - 1.6 0.3	- - - - - - -	- - - - - - -
Other payables - Trident Trust	-	-	-	-	-	-	-	-	43.4	34.2
Other Receivable - Mr.Rajinder Gupta - Trident Group Limited - Trident Institute of Social Sciences - Lotus Hometextiles Limited (Formerly known as Lotus Texpark Limited)	- 0.1 - -	- - - -	- - 0.2 -	- - 0.4 -	- - - -	- - - 6.4	- - - -	4.2 - - -	- - - -	- - - -
Payable to employees - Mr.Deepak Nanda - Ms.Ramandeep Kaur - Mr.Abhishek Gupta - Ms. Madhu Gupta - Ms. Gayatri Gupta - Mr.Amandeep - Mr.Gunjan Shroff	- - - - - - -	- - - - - - -	- - - - - - -	- - - - - - -	- - - - - - -	- - - - - - -	0.9 0.4 1.0 1.0 0.5 - 1.0	0.3 0.2 1.4 0.5 0.4 1.2 0.7	- - - - - - -	- - - - - - -
Advances to Employees - Mr.Deepak Nanda - Mr.Abhishek Gupta	- -	- -	- -	- -	- -	- -	- -	0.3 1.0	- -	- -
Commission Payable - Mr.Rajinder Gupta - Mr.Dinesh Kumar Mittal	- -	- -	- -	- -	- -	- -	44.3 4.6	23.4 4.5	- -	- -

ABHINA Digitally signed by ABHINAV GUPTA V GUPTA Date: 2021.06.12 16:17:21 +05'30'