Annual Report 2016-17

•

227

Form AOC-1 Part B

Statement pursuant to Section 129 (3) of the Companies Act, 2013

related to Associate Companies

(In

million except no of shares held)

Name of Associates

Klisma e-Services Private Limited

/atest audited Balance Sheet Date

March 31, 2015

Shares of Associate held by the company on the year end

No.

5,000

Amount of Investment in Associates

0.05

Extend of Holding %

50%

Description of how there is signiocant inpuence

By virtue of shareholding - More than 20%

Reason why the associate is not consolidated

Not Applicable

Networth attributable to Shareholding as per latest audited Balance

Sheet

(16.78)

Proot / (/oss) for the year 2015-16

i. Considered in Consolidation *

i. Not Considered in Consolidation *

*The share of loss in Klisma e-Services Private /imited to the extent of the investment made by Persistent Systems /imited in

Klisma e-Services Private /imited (

0.05 Million) has been provided for in the standalone onancial statements of Persistent

Systems /imited in FY 2013-14.

For and on behalf of the Board of Directors

Dr. Anand Deshpande

Chairman & Managing Director

Kiran Umrootkar

Director

Pune, April 25, 2017

Sunil Sapre

Chief Financial Ofocer

Amit Atre

Company Secretary