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• Annual Report 2018-19
Shaping the future of software driven business
Related parties with whom transactions have taken place
Associates
i.
Klisma e-Services Private Limited
Key management personnel
i.
Dr. Anand Deshpande, Chairman and Managing Director
ii.
Mr. Sunil Sapre, Executive Director and Chief Financial Officer
iii.
Mr. Amit Atre, Company Secretary
iv.
Ms. Roshini Bakshi, Independent Director
v.
Mr. Pradeep Bhargava, Independent Director
vi.
Mr. Sanjay Bhattacharya, Independent Director
vii.
Dr. Anant Jhingran, Independent Director**
viii.
Mr. Thomas Kendra, Independent Director
ix.
Mr. Prakash Telang, Independent Director
x.
Mr. Kiran Umrootkar, Independent Director
xi.
Mr. Guy Eiferman, Independent Director@
xii.
Dr. Deepak Phatak, Independent Director@
xiii.
Mr. Mritunjay Singh*
Relatives of Key management
personnel
i.
Mr. Suresh Deshpande
(Father of the Chairman and Managing Director)
ii.
Mrs. Sulabha Deshpande
(Mother of the Chairman and Managing Director)
iii.
Mrs. Sonali Anand Deshpande
(Wife of the Chairman and Managing Director)
iv.
Dr. Mukund Deshpande
(Brother of the Chairman and Managing Director)
v.
Mrs. Chitra Buzruk
(Sister of the Chairman and Managing Director)
vi.
Dr. Asha Sapre
(Wife of Executive Director and Chief Financial Officer)
Entities over which a key management
personnel has significant influence
i.
Deazzle Services Private Limited
ii.
Azure Associates, LLC
iii.
Persistent Foundation
(ii) Related party transactions
(In
`
Million)
Name of the related party and nature of relationship
For the year ended
March 31, 2019
March 31, 2018
Sale of products
Subsidiaries
Aepona Limited
22.41
-
Total
22.41
Sale of software services Subsidiaries
Persistent Systems, Inc.
5,521.01
4,199.30
Persistent Systems Malaysia Sdn. Bhd.
113.22
86.78
Persistent Systems Pte Ltd
4.55
9.33
Persistent Systems France SAS
50.41
74.88
Persistent Telecom Solutions Inc.
(wholly owned subsidiary of Persistent Systems, Inc.)
189.47
231.03
Aepona Limited
(wholly owned subsidiary of Aepona Group Limited)
33.56
61.82
PARX Werk AG (wholly owned subsidiary of Persistent
Systems Germany GmbH)
1.96
1.34
PARX Consulting GmbH (wholly owned subsidiary of
PARX Werk AG)
22.42
1.82
Entity over which a key management personnel
has significant influence
Deazzle Services Private Limited
18.46
34.48
Total
5,955.06
4,700.78
Notes forming part of financial statements (Contd.)