Walchandnagar Industries Ltd — Audit Report / Information 2020

Jul 12, 2020

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

National Stock Exchange of India Ltd BSE Ltd. Corporate Action Department Corporate Relations Department Exchange Plaza, 5[th] floor, 1st floor, New Trading Ring, Plot No. C/1, G Block, Rotunda Bldg P.J. Tower, Bandra Kurla Complex, Bandra (East) Mumbai 400 001. Mumbai 400 051. Fax:: 22723121/2039/2037 Fax :26598237/38, 66418126/25/24 Scrip Code : 507410 Scrip Code : WALCHANNAG

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 Digitally signed by AGRAWAL L GIRIRAJ GIRIRAJ SHARAN Date: 2020.07.12 SHARAN 14:07:19 +05'30' G. S. Agrawal Vice President (Legal & taxation) & Company Secretary

Encl.: As above

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**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:**

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:	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:	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. ChiragC. Doshi		ManagingDirector
Mrs. Kanika G. Sanger		Daughter of Chairman
Mrs. Tanaz ChiragDoshi		Wife of ManagingDirector
ii) Key Management personnel and relatives:
Name of the individual	Designation/ Relation
Mr. G. K. Pillai Mr. Chirag C. Doshi Mr. G. S. Agrawal Mr. Vivek Jain Mr. A. Srikant Mr. SandeepJain	Managing Director & CEO (upto March 31,2020) Managing Director Vice President (Legal & Taxation) & Company Secretary Chief Financial Officer_( upto July 11, 2018) Chief Financial Officer ( From July 3, 2018 to December 3, 2018) 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.

		Rs in Lakhs Key Management Personnel as mentioned in (ii) above Relatives of Key as mentioned in (ii) above Enterprises mentioned in (iii) above Total Current Year Current Year Current Year Current Year Previous Year Previous Year Previous Year Previous Year - - - 7 - - - - - - 30 30 - - 30 30 - - 30 37 - - 30 30 - - - 2 - - - - - - - 2 - - - - - - - 4 - - - - - - 1 1 - - - - - - 1 1 - - - - 119 - - 119 118 - - 118 91 - - 91 104 - - 104 38 - - 38 34 - - 34 - - - - 13 - - 13 - - - - 11 - - 11 57 - - 57 - - - - 305 - - 305 280 - - 280 - - - 200 - - - - - - - 200 - - - - - - - 400 - - - - - - - 200 - - - - - - - 200 - - - - - - - 400 - - - - - - 6 6 - - - - - - 6 6 - - - - - - - - - - 0 0 - - - - - - 0 0 3 - - 3 2 - - 2 5 - - 5 6 - - 6 2 - - 2 1 - - 1 4 - - 4 - - - - 14 - - 14 9 - - 9 91 38 - - 57 104 34 13 11 - 91 38 - - 57 104 34 13 11 - Sandeep Jain G. K. Pillai Mr. G. S. Agrawal Mr. Vivek Jain Mr. A Shrikant OutstandingPayable Transactions	Rs in Lakhs Key Management Personnel as mentioned in (ii) above Relatives of Key as mentioned in (ii) above Enterprises mentioned in (iii) above Total Current Year Current Year Current Year Current Year Previous Year Previous Year Previous Year Previous Year - - - 7 - - - - - - 30 30 - - 30 30 - - 30 37 - - 30 30 - - - 2 - - - - - - - 2 - - - - - - - 4 - - - - - - 1 1 - - - - - - 1 1 - - - - 119 - - 119 118 - - 118 91 - - 91 104 - - 104 38 - - 38 34 - - 34 - - - - 13 - - 13 - - - - 11 - - 11 57 - - 57 - - - - 305 - - 305 280 - - 280 - - - 200 - - - - - - - 200 - - - - - - - 400 - - - - - - - 200 - - - - - - - 200 - - - - - - - 400 - - - - - - 6 6 - - - - - - 6 6 - - - - - - - - - - 0 0 - - - - - - 0 0 3 - - 3 2 - - 2 5 - - 5 6 - - 6 2 - - 2 1 - - 1 4 - - 4 - - - - 14 - - 14 9 - - 9 91 38 - - 57 104 34 13 11 - 91 38 - - 57 104 34 13 11 - Sandeep Jain G. K. Pillai Mr. G. S. Agrawal Mr. Vivek Jain Mr. A Shrikant OutstandingPayable Transactions	Rs in Lakhs Key Management Personnel as mentioned in (ii) above Relatives of Key as mentioned in (ii) above Enterprises mentioned in (iii) above Total Current Year Current Year Current Year Current Year Previous Year Previous Year Previous Year Previous Year - - - 7 - - - - - - 30 30 - - 30 30 - - 30 37 - - 30 30 - - - 2 - - - - - - - 2 - - - - - - - 4 - - - - - - 1 1 - - - - - - 1 1 - - - - 119 - - 119 118 - - 118 91 - - 91 104 - - 104 38 - - 38 34 - - 34 - - - - 13 - - 13 - - - - 11 - - 11 57 - - 57 - - - - 305 - - 305 280 - - 280 - - - 200 - - - - - - - 200 - - - - - - - 400 - - - - - - - 200 - - - - - - - 200 - - - - - - - 400 - - - - - - 6 6 - - - - - - 6 6 - - - - - - - - - - 0 0 - - - - - - 0 0 3 - - 3 2 - - 2 5 - - 5 6 - - 6 2 - - 2 1 - - 1 4 - - 4 - - - - 14 - - 14 9 - - 9 91 38 - - 57 104 34 13 11 - 91 38 - - 57 104 34 13 11 - Sandeep Jain G. K. Pillai Mr. G. S. Agrawal Mr. Vivek Jain Mr. A Shrikant OutstandingPayable Transactions	Rs in Lakhs Key Management Personnel as mentioned in (ii) above Relatives of Key as mentioned in (ii) above Enterprises mentioned in (iii) above Total Current Year Current Year Current Year Current Year Previous Year Previous Year Previous Year Previous Year - - - 7 - - - - - - 30 30 - - 30 30 - - 30 37 - - 30 30 - - - 2 - - - - - - - 2 - - - - - - - 4 - - - - - - 1 1 - - - - - - 1 1 - - - - 119 - - 119 118 - - 118 91 - - 91 104 - - 104 38 - - 38 34 - - 34 - - - - 13 - - 13 - - - - 11 - - 11 57 - - 57 - - - - 305 - - 305 280 - - 280 - - - 200 - - - - - - - 200 - - - - - - - 400 - - - - - - - 200 - - - - - - - 200 - - - - - - - 400 - - - - - - 6 6 - - - - - - 6 6 - - - - - - - - - - 0 0 - - - - - - 0 0 3 - - 3 2 - - 2 5 - - 5 6 - - 6 2 - - 2 1 - - 1 4 - - 4 - - - - 14 - - 14 9 - - 9 91 38 - - 57 104 34 13 11 - 91 38 - - 57 104 34 13 11 - Sandeep Jain G. K. Pillai Mr. G. S. Agrawal Mr. Vivek Jain Mr. A Shrikant OutstandingPayable Transactions	Rs in Lakhs Key Management Personnel as mentioned in (ii) above Relatives of Key as mentioned in (ii) above Enterprises mentioned in (iii) above Total Current Year Current Year Current Year Current Year Previous Year Previous Year Previous Year Previous Year - - - 7 - - - - - - 30 30 - - 30 30 - - 30 37 - - 30 30 - - - 2 - - - - - - - 2 - - - - - - - 4 - - - - - - 1 1 - - - - - - 1 1 - - - - 119 - - 119 118 - - 118 91 - - 91 104 - - 104 38 - - 38 34 - - 34 - - - - 13 - - 13 - - - - 11 - - 11 57 - - 57 - - - - 305 - - 305 280 - - 280 - - - 200 - - - - - - - 200 - - - - - - - 400 - - - - - - - 200 - - - - - - - 200 - - - - - - - 400 - - - - - - 6 6 - - - - - - 6 6 - - - - - - - - - - 0 0 - - - - - - 0 0 3 - - 3 2 - - 2 5 - - 5 6 - - 6 2 - - 2 1 - - 1 4 - - 4 - - - - 14 - - 14 9 - - 9 91 38 - - 57 104 34 13 11 - 91 38 - - 57 104 34 13 11 - Sandeep Jain G. K. Pillai Mr. G. S. Agrawal Mr. Vivek Jain Mr. A Shrikant OutstandingPayable Transactions	Rs in Lakhs Key Management Personnel as mentioned in (ii) above Relatives of Key as mentioned in (ii) above Enterprises mentioned in (iii) above Total Current Year Current Year Current Year Current Year Previous Year Previous Year Previous Year Previous Year - - - 7 - - - - - - 30 30 - - 30 30 - - 30 37 - - 30 30 - - - 2 - - - - - - - 2 - - - - - - - 4 - - - - - - 1 1 - - - - - - 1 1 - - - - 119 - - 119 118 - - 118 91 - - 91 104 - - 104 38 - - 38 34 - - 34 - - - - 13 - - 13 - - - - 11 - - 11 57 - - 57 - - - - 305 - - 305 280 - - 280 - - - 200 - - - - - - - 200 - - - - - - - 400 - - - - - - - 200 - - - - - - - 200 - - - - - - - 400 - - - - - - 6 6 - - - - - - 6 6 - - - - - - - - - - 0 0 - - - - - - 0 0 3 - - 3 2 - - 2 5 - - 5 6 - - 6 2 - - 2 1 - - 1 4 - - 4 - - - - 14 - - 14 9 - - 9 91 38 - - 57 104 34 13 11 - 91 38 - - 57 104 34 13 11 - Sandeep Jain G. K. Pillai Mr. G. S. Agrawal Mr. Vivek Jain Mr. A Shrikant OutstandingPayable Transactions
Particulars	Individuals mentioned in (i) above	Key Management Personnel as mentioned in (ii) above		Relatives of Key as mentioned in (ii) above	Enterprises mentioned 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
ReceivingofServices Mr. Chakor L. Doshi Bombay Cycle & Motors Agency Ltd.	7 - - -		- - - -	- - - -	- - 30 30	7 - 30 30
Sub-Total	7		-	-	30	37
	-		-	-	30	30
InterestonUn-securedLoan Chakor L Doshi HUF Kanika G Sanger	2 - 2 -		- - - -	- - - -	- - - -	2 - 2 -
Sub-Total	4		-	-	-	4
	-		-	-	-	-
Reimbursementofexpenses Bombay Cycle & Motors Agency Ltd.	- -		- -	- -	1 -	1 -
Sub-Total	-		-	-	1	1
	-		-	-	-	-
ManagerialRemuneration# Mr. Chirag C. Doshi Mr. G. K. Pillai Mr. G. S. Agrawal Mr. Vivek Jain Mr. A Shrikant Mr. Sandeep Jain	- - - - - - - - - - - -		119 118 91 104 38 34 - 13 - 11 57 -	- - - - - - - - - - - -	- - - - - - - - - - - -	119 118 91 104 38 34 - 13 - 11 57 -
Sub-Total	-		305	-	-	305
	-		280	-	-	280
UnsecuredLoan-Received Chakor L Doshi HUF Kanika G. Sanger	200 - 200 -		- - - -	- - - -	- - - -	200 - 200 -
Sub-Total	400		-	-	-	400
	-		-	-	-	-
UnsecuredLoan -Repayment Chakor L Doshi HUF Kanika G Sanger	200 - 200 -		- - - -	- - - -	- - - -	200 - 200 -
Sub-Total	400		-	-	-	400
	-		-	-	-	-
		OutstandingPayable
ReceivingofServices Bombay Cycle & Motors Agency Ltd.	- -	- -		- -	6 -	6 -
Sub-Total	-	-		-	6	6
	-	-		-	-	-
Reimbursementofexpenses Walchand Chiranika Trading Pvt Ltd	- -	- -		- -	- 0	- 0
Sub-Total	-	-		-	-	-
	-	-		-	0	0
ManagerialRemuneration# Mr. Chirag C. Doshi Mr. G. K. Pillai Mr. G. S. Agrawal Mr. Sandeep Jain	- - - - - - - -	3 2 5 6 2 1 4 -		- - - - - - - -	- - - - - - - -	3 2 5 6 2 1 4 -
Sub-Total	-	14		-	-	14
	-	9		-	-	9
# 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	119 118	91 104		38 34	- 13	- 11	57 -
Total	119 118	91 104		38 34	- 13	- 11	57 -

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