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Zensar Technologies Ltd. Audit Report / Information 2019
61559_rns_2019-05-24_c7a8fc2d-e627-407d-84d5-3ad5c2c615bb.pdf
Audit Report / Information
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Registered Office : Zensar Technologies Ltd., Zensar Knowledge Park, Plot No. 4, MIDC l(haradi, Off Nagar Road, Pune 411014, India Tel +91(20) 66074000, 27004000 Fax +91 (20) 66057888 CIN: L72200PN1963PLC012621
Date: May 23, 2019
BSE Limited Corporate Service Department, ptFloor, P. J. Towers, Dalal Street, Mumbai 400 001
Fax: (022) 2272 2039/2272 3121
the National Stock Exchange of India Ltd. Exchange Plaza, 3rd floor, Plot No. C/1, 'G' block, Bandra Kurla Complex, Bandra (E),
Fax: (022) 26598237/26598238
Scrip ID: ZENSARTECH Scrip Code: 504067
Symbol: ZENSARTECH Series: EQ
Mumbai 400 051
Subject: Disclosure of Related Party Transactions pursuant to Regulation 23(9) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations")
Pursuant to Regulation 23(9) of Listing Regulations, please find enclosed disclosure of Related Party Transactions, on a consolidated basis, for the period ended March 31,2019.
The above document is available on the Company's website www.zensar.com.
Request you to take the same on your records.
Thanking you, Yours sincerely,
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Fofzensar Technologies Limited �"I
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C:ompany S�c.retary , ,,, �
Encl: As above
Zensar Technologies Limited
Notes accompayning the Consolidated Financial Statements as at and for the year ended March 31, 2019 (Ali amounts in INR Lakhs unless otherwise stated)
- 30 Related party disclosures
- A List of related parties
- (i) List of subsidiaries Refer to note 29 (a)
(ii) Key Management Personnel
| Name | Desionation | Tenure |
|---|---|---|
| H.V Goenka | Chairman | |
| Sandeep Kishore | Chief Executive Officer and | |
| Managing Director | ||
| Navneet Khandelwal | Chief Financial Officer | W.e.f January 18, 2018 |
| Gaurav Tongia | Company Secretary | W.e.f February 01, 2018 |
| A.T. Vaswani | Non-Executive Director | |
| Arvind Agrawal | Non-Executive Director | |
| Venkatesh Kasturirangan | Non-Executive Director | |
| Sudip Nandy | Non-Executive Director | |
| Shashank Singh | Non-Executive Director | |
| Ben Druskin | Non-Executive Director | W .e.f November 03, 2017 |
| Ketan Dalal | Non-Executive Director | W.e.f November 03, 2017 |
| Tanuja Randrey | Non-Executive Director | W.e.f January 18, 2018 |
| Harsh Mariwala | Non-Executive Director | W.e.f January 18, 2018 |
| Anant Goenka | Non-Executive Director | W.e.f Januarv 21 2019 |
(iii) Entities where Key management personnel either have significant influence or are members of key management personnel of that entity:
| Name | Nature |
|---|---|
| RPG Enterprises | |
| Harrisons Malayalam Limited | |
| KEC International Limited | |
| Raychem RPG Limited | |
| RPG Life Sciences Limited | Entities where key |
| RPG Art Foundation | management personnel have |
| CEAT Speciality Tyres Limited | significant influence |
| Spencers International Hotel Limited | |
| RPG Foundation | |
| CEAT Limited |
(iv) Post employment benefit plans:
zensar PF Trust Zensar Gratuity trust Zensar Superannuation Trust
(v) Entities which have the ability to exercise influence over the company:
Swallow Associates LLP Summit Securities Limited Instant Holdings Limited Sofreal Mercantrade Private Limited Chattarpati Apartments LLP Crystal India Tech Trust through Trustee, H.V. Goenka Marina Holdco (FPI) Ltd.
Secura India Trust through Trustee, H.V. Goenka Sudarshan Electronics and TV Ltd Stellar Energy Trust through Trustee, H.V. Goenka Nucleus Life Trust through Trustee, H.V. Goenka Monitor Portfolio Trust through Trustee, H.V. Goenka Prism Estates Trust through Trustee, H.V. Goenka
Zensar Technologies Limited Notes accompayning the Consolidated Financial Statements as at and for the year ended March 31, 2019 (All amounts in INR Lakhs unless otherwise stated)
B Transactions with Related Parties
| Sr. No. | Particulars | Transactions durino vear ended | Amount outstandino as at | ||||
|---|---|---|---|---|---|---|---|
| March 31, 2019 | March 31, 2018 | March 31, 2019 | March 31, 2018 | ||||
| Receivable | Pavable | Receivable | Pavable | ||||
| A. | Revenue from rendering services | ||||||
| (vi) | RPG Life Sciences Limited | 25 | 41 | 5 | - | - | - |
| (vii) | RPG Enterprises | 363 | 341 | 15 | - | 393 | - |
| (viii) | CEA T Limited | - | 130 | 3 | - | 153 | - |
| (ix) | Harrisons Malayalam Limited | - | - | 5 | - | 5 | - |
| (xii) | CE/ff Speciality Tyres Limited | - | 35 | - | - | - | - |
| Total of Revenue from rendering services | 388 | 547 | 28 | - | 551 | - | |
| o. | Other Income | ||||||
| (iv) | KEC International Limited | - | - | 0- | - | 0 | -- |
| (v) | CEA T Limited | 8 | 8 | - | 4 | ||
| 1 ofal of Other Income | 8 | 8 | 0 | - | 4 | - | |
| C. | Cost recharges debited to the company | ||||||
| (i) | RPG Enterprises | 1,755 | 1,451 | - | 108 | - | 168 |
| (ii) | CEAT Limited | - | 7 | - | - | - | - |
| (iii) | Harrisons Malayalam Limited | - | 1 | - | - | - | 1 |
| Total of Cost recharnes debited to the comoanv | 1 755 | 1 459 | - | 108 | - | 168 | |
| Sr. No. | Particulars | Transactions during vear ended | Amount outstandino as at | ||||
|---|---|---|---|---|---|---|---|
| March 31, 2019 | March 31, 2018 | March 31, 2019 | March 31, 2018 | ||||
| Receivable | Pavable | Receivable | Pavable | ||||
| D. | Dividend on Equity Shares Paid | ||||||
| (i) | Swallow Associates LLP | 1,453 | 1,453 | - | - | - | - |
| (ii) | Summit Securities Limited | 592 | 591 | - | - | - | - |
| (iii) | Instant Holdings Limited | 449 | 415 | - | - | - | - |
| (iv) | Sofreal Mercantrade Private Limited | 136 | 135 | - | - | - | - |
| (v) | Chattarpati Apartments LLP | 5 | 5 | - | - | - | - |
| (vi) | Crystal India Tech Trust through Trustee, H.V Goenka | - | 27 | - | - | - | - |
| (vii) | Secura India Trust through Trustee, H.V Goenka | - | 0 | - | - | - | - |
| (viii) | Sudarshan Electronics and TV Ltd | - | 0 | - | - | - | - |
| (ix) | Stellar Energy Trust through Trustee, H.V Goenka | - | 0 | - | - | - | - |
| (x) | Nucleus Life Trust through Trustee, H.V Goenka | - | 0 | - | - | - | - |
| (xi) | Monitor Portfolio Trust through Trustee, H.V Goenka | - | 0 | - | - | - | - |
| (xii) | Prism Estates Trust through Trustee, H.V Goenka | - | 0 | - | - | - | - |
| (xiii) | H.V Goenka | 4 | 4 | - | - | - | - |
| (xiv) | S. Balasubramaniam | - | 5 | - | - | - | - |
| (xv) | Manoi Jaiswal | - | 0 | - | - | - | - |
| (xvi) | A.T. Vaswani | 1 | 1 | - | - | ||
| (xvii) Harsh Mariwala | - | 0 | - | - | |||
| (xviii) Ma;ina Holdco (FPI) Ltd | 1,236 | })! | . .-··~··"'� •;,:\ | ||||
| Total of Dividend on Equitv Shares paid | 2 640 | 3 873 | - | - | - | \ l'fr?- ~· .i | |
| ';(it:�::: | f-··-~· |
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Zensar Technologies Limited Notes accompayning the Consolidated Financial Statements as at and for the year ended March 31, 2019 (AU amounts in INR Lakhs unless otherwise stated)
| ·e. | Donations | ||||||
|---|---|---|---|---|---|---|---|
| I(i) | RPG Art Foundation | 15 | 15 | - | |||
| I(ii) | RPG Foundation | 419 | 329 | ||||
| I | Total of Donations made | 434 | 344 | - | - | - |
F Compensation of Key management personnel #
| For the Year ended March 312019 | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Particulars | Sandeep Kishore | S. Balasubramaniam | Manoj Jaiswal | NavneetKhandelwal | Nilesh Limaye | GauravTongia | |||
| l | Short Term Benefits | 14 | 142 | 48 | |||||
| 2 | Post-Employment Benefits | 2 | 4 | 2 | |||||
| 3 | Long-term Employee benefits | - | |||||||
| 4 | Prequlslte value of Employee Stock options | ||||||||
| Total of Compensation of Kev manaoement personnel# | 16 | - | 146 | - | 50 | ||||
| Outstandina as on March 31 2018 | - | - |
# doesn't mdude the provision for Gratuity and leave Encashment as these are provided at the company level.
| For the Year ended March 31 2018 | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Particulars | Sandeep Kishore | S. Balasubramaniam | Manoj Jaiswal | NavneetKhandelwal | Nilesh limaye | GauravTongia | |||||
| l | ShortTerm Benefits | ## 13 | 45 | 117 | 51 | 40 | 15 | ||||
| 2 | Post-Employment Benefits | 2 | 63 | 4 | 1 | 7 | 1 | ||||
| 3 | long-term Employee benefits | 1 | 3 | ||||||||
| 4 | Prequisite value of Employee Stock options | ||||||||||
| Total of Comoensation of Kev manaoement oersonnel | 15 | 108 | 122 | 52 | 50 | 16 | |||||
| Outstandino as on March 31 2018 | - | - | - | 7 | - | 3 |
| Directors Fees & Commission | For the year ended March For the year ended March | ||
|---|---|---|---|
| 31 2019 | 31 2018 | ||
| H.V Goenka | 201 | 215 | |
| A.V. Goenka | 2 | ||
| A.T. Vaswani | 11 | 16 | |
| P.K. Mohapatra | 6 | ||
| Arvind Agrawal | 7 | 12 | |
| Venkatesh Kasturirangan | 6 | 11 | |
| Madhabi Puri Buch | 6 | ||
| Sudip Nandy | 9 | 14 | |
| Shashank Singh | 8 | 13 | |
| Ben Drusl <in< td="">53</in<> | 5 | 3 | |
| Ketan Dalal | 7 | 4 | |
| John Levack | |||
| Tanuja Randrey | 5 | 2 | |
| Harsh Mariwala | 6 | 1 | |
| .· | Total Directors Fees and Commission | 267 | 303 |
| Outstandino Pavable | 294 | 250 |
zensar Technologies Limited Notes accompayning the Consolidated Financial Statements as at and for the year ended March 31, 2019 (Ali. amounts in INR Lakhs unless otherwise stated)
Stock Options of Key Management Personnel's
| Year ended March 31 2019 | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Particulars | I Ootions Ooenino Balance I ODtions oranted | I Ootions cancelled | I Ootions exercised | IOotions outstandino | |||||
| Sandeep Klshore | m,�olI | I1,000,000 | 12s,�oo | I | I1,000,000 | ||||
| Navneet Khandelwal | I | 90 000 | - | 90 000 |
| Year ended March 31 2018 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Particulars | Ootions Ooenino Balance Ootions oranted | Ootions Cancelled | Ootions exercised | Ootions outstandino | ||||||
| Sandeep Kishore | 250,000 | 125,000 | - | 125,000 | ||||||
| Ganesh Natrajan | 12,000 | - | 12,000 | |||||||
| S. Balasubramaniam | - | - | - | |||||||
| Manoj Jalswal | - | - | - | |||||||
| Nilesh Umaye | 2,000 | 200 | - | 1,800 | ||||||
| Navneet Khandelwal | - | - | - | - | - |
The above table includes aggregate number of Stock options granted under the existing ESOP sehemes of the company.
The total cancellation of 125000 stock options granted to Sandeep Kishore under 2006 ESOP, 100000 are on account of voluntary surrender.
• The provision of Rs. 40 Lakhs (previous year: Rs. 40 lakhs) has been made against such receivables from Zensar Technologies (Shanghai) Company Limited
•• The provision of Rs. 98 Lakhs (previous year: Rs. 98 Lakhs) has been made against such loan and Interest receivable.
·***A provision of Rs 132 lakhs (previous year : 132 lakhs) has been made on Intercompany receivables against the software services rendered.
Sandeep Kishore remuneration exdudes Rs. 1,045 lakhs (previous year: Rs. 945 lakhs paid) as remuneration by Zensar Technologies Inc.
Nav�eet Khandertl'i§ir------ Chief Financial Officer
