Walchandnagar Industries Ltd — Audit Report / Information 2020

Jul 12, 2020

Ref. No. : WI : SEC: 2020 Date : 12/07/2020

National Stock Exchange of India Ltd Corporate Action Department Exchange Plaza, 5th floor, Plot No. C/1, G Block, Bandra Kurla Complex, Bandra (East) Mumbai 400 051. Fax :26598237/38, 66418126/25/24 Scrip Code : WALCHANNAG

BSE Ltd. Corporate Relations Department 1st floor, New Trading Ring, Rotunda Bldg P.J. Tower, Mumbai 400 001. Fax:: 22723121/2039/2037 Scrip Code : 507410

Sub :Disclosure of Related Party Transactions pursuant to Regulation 23 (9) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Dear Sir(s),

In terms of Regulation 23 (9) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we enclose herewith disclosure of Related Party Transaction in the format specified in the Accounting Standards for the Financial Year ended March 31, 2020.

We request you to take the same on record.

Thanking you,

Yours faithfully,

For Walchandnagar Industries Ltd.

AGRAWA L GIRIRAJ SHARAN Digitally signed by AGRAWAL GIRIRAJ SHARAN Date: 2020.07.12 14:07:19 +05'30'

G. S. Agrawal Vice President (Legal & taxation) & Company Secretary

Encl.: As above

WALCHANDNAGAR INDUSTRIES LIMITED

NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2020

45 Related Party Disclosures

Related party disclosures as required under Ind AS 24 (Related Party Disclosures), specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014 are given below:

i) Individuals owning, directly or indirectly, an interest in the voting power of the reporting enterprise that gives them control or significant influence over the enterprise and relatives of any such individual:

Name of the individual	Designation / Relation
Mr. Chakor L. Doshi	Chairman
Mrs. Champa C. Doshi	Wife of Chairman
Mr. Chirag C. Doshi	Managing Director
Mrs. Kanika G. Sanger	Daughter of Chairman
Mrs. Tanaz Chirag Doshi	Wife of Managing Director

ii) Key Management personnel and relatives:

Name of the individual	Designation / Relation
Mr. G. K. Pillai	Managing Director & CEO (upto March 31,2020)
Mr. Chirag C. Doshi	Managing Director
Mr. G. S. Agrawal	Vice President (Legal & Taxation) & Company Secretary
Mr. Vivek Jain	Chief Financial Officer ( upto July 11, 2018)
Mr. A. Srikant	Chief Financial Officer ( From July 3, 2018 to December 3, 2018)
Mr. Sandeep Jain	Chief Financial Officer ( From May 22, 2019)

iii) Enterprises over which any person described in (i) or (ii) above are able to exercise significant influence:

Bombay Cycle & Motor Agency Ltd. (BCMA)	Olsson Holdings Inc.
Walchand Great Achievers Pvt. Ltd.	Vinod Shashank Chakor Pvt. Ltd.
Walchand Kamdhenu Commercials Pvt. Ltd.	Chirag Enterprises
Walchand Chiranika Trading Pvt. Ltd.	Walchand Engineers Pvt. Ltd.
Chakor Doshi HUF	(Application for closure of Company in form STK 2 is filled on 13.03.2019)
Chirag Doshi HUF	Walchand Projects Pvt. Ltd.
Chiranika Enterprises	(Application for closure of Company in form STK 2 is filled on 13.03.2019)
Chiranika Corporation	Walchand Power Systems Pvt. Ltd.
Chiranika Corporation	(Application for closure of Company in form STK 2 is filled on 14.03.2019)
Chiranika Properties	Walchand Oil & Gas Pvt. Ltd.
Walchand Botanicals Pvt. Ltd.	(Application for closure of Company in form STK 2 is filled on 13.03.2019)
Rodin Holdings Inc.	Walchand Leisure Realty Pvt. Ltd.
Walchand Ventures LLP	(Application for closure of Company in form STK 2 is filled on 13.03.2019)
Hereford Properties Limited Inc.	Walchand BMH Pvt. Ltd.
Trust Finlease Pvt. Ltd.	(Application for closure of Company in form STK 2 is filled on 13.03.2019)
GS Agrawal HUF	Walchand Solar Pvt. Ltd.
	(Application for closure of Company in form STK 2 is filled on 14.03.2019)

46 Related Party Disclosures (contd.)Details of transactions relating to the individuals / enterprises referred to in item (i), (ii) and (iii) above are as follows. The same are in the ordinary course of business. Dein Lolth

					Rs in Lakhs
Particulars	Key ManagementIndividualsPersonnel asmentioned in (i)mentioned in (ii)aboveabove		Relatives of Key asmentioned in (ii)above	Enterprisesmentioned in (iii)above	Total
	Current Year	Current Year	Current Year	Current Year	Current Year
	Previous Year	Previous Year	Previous Year	Previous Year	Previous Year
		Transactions
Receiving of ServicesMr. Chakor L. Doshi	7				7
Bombay Cycle & Motors Agency Ltd.			$\overline{a}$	3030	3030
Sub-Total	7$\mathbb{Z}^{\times}$	٠$\blacksquare$	$\overline{\phantom{a}}$$\overline{\phantom{a}}$	3030	3730
Interest on Un-secured LoanChakor L Doshi HUF	2				2
Kanika G Sanger	2				2
Sub-Total	4$\overline{\phantom{a}}$	$\blacksquare$$\overline{\phantom{a}}$	$\blacksquare$٠	$\blacksquare$٠	$\boldsymbol{4}$٠
Reimbursement of expensesBombay Cycle & Motors Agency Ltd.	٠$\overline{\phantom{a}}$	٠	ä,٠	$\mathbf{1}$٠	$\mathbf{1}$٠
Sub-Total	$\overline{\phantom{a}}$$\overline{\phantom{a}}$	$\blacksquare$$\omega$	$\blacksquare$¥,	$\mathbf{1}$$\overline{\phantom{a}}$	$\mathbf{1}$$\overline{\phantom{a}}$
Managerial Remuneration #Mr. Chirag C. Doshi		119			119
Mr. G. K. Pillai		11891104			11891104
Mr. G. S. Agrawal		3834			3834
Mr. Vivek Jain		13			13
Mr. A Shrikant		$\overline{\phantom{0}}$11			11
Mr. Sandeep Jain		57$\blacksquare$			57
Sub-Total	$\overline{\phantom{a}}$$\overline{\phantom{a}}$	305280	$\overline{\phantom{a}}$$\overline{\phantom{a}}$	$\overline{\phantom{a}}$$\overline{\phantom{a}}$	305280
Unsecured Loan-ReceivedChakor L Doshi HUF	200$\sim$				200
Kanika G. Sanger	200$\overline{\phantom{a}}$				200$\bar{a}$
Sub-Total	400$\blacksquare$	$\overline{\phantom{a}}$$\overline{\phantom{a}}$	$\blacksquare$$\overline{\phantom{a}}$	$\blacksquare$$\overline{\phantom{a}}$	400$\overline{\phantom{a}}$
Unsecured Loan -RepaymentChakor L Doshi HUF	200				200
Kanika G Sanger	$\overline{\phantom{a}}$200		÷,÷.		200
	$\overline{\phantom{a}}$400	۰	$\overline{\phantom{a}}$	۰	400
Sub-Total	$\overline{\phantom{a}}$	٠	$\overline{\phantom{a}}$	$\overline{\phantom{a}}$	$\overline{\phantom{a}}$
		Outstanding Payable
Receiving of ServicesBombay Cycle & Motors Agency Ltd.	÷$\sim$		÷,	6$\overline{\phantom{a}}$	6
Sub-Total	$\overline{\phantom{a}}$$\overline{\phantom{a}}$	$\overline{\phantom{a}}$$\overline{\phantom{a}}$	$\overline{\phantom{a}}$$\blacksquare$	6÷	6$\sim$
Reimbursement of expensesWalchand Chiranika Trading Pvt Ltd	$\blacksquare$$\overline{\phantom{a}}$	-٠	-ä,	$\boldsymbol{0}$	$\boldsymbol{0}$
Sub-Total	$\overline{\phantom{a}}$÷,	۰ä,	$\overline{\phantom{a}}$ä,	٠	۰
Managerial Remuneration #Mr. Chirag C. Doshi		3		$\boldsymbol{0}$	$\bf{0}$3
Mr. G. K. Pillai		$,2$5			$,2$5
Mr. G. S. Agrawal		6$\bf{2}$			$,6,$2
Mr. Sandeep Jain		$\mathbf{1}$4			$,1,$4
Sub-Total	$\overline{\phantom{a}}$	14$\overline{q}$	$\overline{\phantom{a}}$	$\overline{\phantom{a}}$	14Q

The breakup of compensation of key management personnel is as follows:

Compensation of KMP's/relative of KMP	Chirag Doshi	G. K. Pillai	Mr. G. S. Agrawal	Mr. Vivek Jain	Mr. A Shrikant	Sandeep Jain
Short Term Benefits	119	91	38			57
	118	104
Total	119	91	38			57
	118	104	21		11

@ employment benefits comprising gratuity, and compensated absences are not disclosed as these are determined for the Company as a whole