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Shaping the future of software driven business
Unconsolidated Financials •
311
33. Operating leases
The Company has taken equipment and office premises on lease under cancellable operating lease arrangements. Further,
the Company has also taken certain land and office premises under non-cancellable operating lease agreement for a
period of 3 – 15 years. There are no restrictions imposed by the lease agreements. There are no subleases. The Company
has an option to renew the lease agreements at the end of the lease period.
Maximum obligation on long–term non-cancellable operating lease payable as per the rentals stated in respective
agreement and the lease rentals recognized on cancellable and non-cancellable leases is as follows:
(In
`
Million)
For the year ended
March 31, 2019
March 31, 2018
Lease rentals during the year
- On cancellable leases
198.69
42.82
- On non-cancellable leases
46.82
199.93
Total
245.51
242.75
(In
`
Million)
As at
March 31, 2019
March 31, 2018
Obligation on non- cancellable operating leases
- Not later than one year
46.33
195.46
- Later than one year and not later than five years
17.95
290.66
- Later than five years
-
202.04
34. Related party disclosures
(i) Names of related parties and related party relationship
Related parties where control exists
Subsidiaries
i.
Persistent Systems, Inc.
ii.
Persistent Systems Pte Ltd.
iii.
Persistent Systems France SAS
iv.
Persistent Systems Malaysia Sdn. Bhd.
v.
Persistent Systems Germany GmbH
vi.
Persistent Telecom Solutions Inc. (wholly owned subsidiary of
Persistent Systems, Inc.)
vii.
Akshat Corporation (d.b.a. RGen Solutions)
(wholly owned subsidiary of Persistent Systems, Inc.)
(Dissolved with effect from December 21, 2018)
viii.
Aepona Holdings Limited
(wholly owned subsidiary of Persistent Systems, Inc.)
ix.
Aepona Group Limited (wholly owned subsidiary of Aepona Holdings
Limited)
x.
Aepona Limited (wholly owned subsidiary of Aepona Group Limited)
xi.
Valista Limited (wholly owned subsidiary of Aepona Group Limited)
xii.
Persistent Systems Lanka (Private) Limited (Formerly known as Aepona
Software (Private) Limited) (wholly owned subsidiary of Valista Limited)
xiii.
Persistent Systems Mexico, S.A. de C.V. (wholly owned subsidiary of
Persistent Systems Inc.)
xiv.
Persistent Systems Israel Ltd.(wholly owned subsidiary of Persistent
Systems Inc.)
xv.
PARX Werk AG (wholly owned subsidiary of Persistent Systems
Germany GmbH)
xvi.
PARX Consulting GmbH (wholly owned subsidiary of PARX Werk AG)
xviii. Herald Technologies Inc (wholly owned subsidiary of Persistent
Systems, Inc.)
Notes forming part of financial statements (Contd.)