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Notes forming part of onancial statements (Contd.)
280
•
Annual Report 2016-17
(In
`
Million)
Name of the related party and nature of relationship
For the year ended
March 31, 2017
March 31, 2016
Donation given
Entity over which a key management personnel
has signiocant inpuence
Persistent Foundation
67.74
60.92
67.74
60.92
# The remuneration to the key managerial personnel does not include the provisions made for gratuity, long service
awards and leave beneots, as they are determined on an actuarial basis for the Company as a whole.
## These transactions are disclosed at the exchange rates prevailing on the date of transaction.
*
Mr. Sunil Sapre is appointed as Chief Financial Ofocer w.e.f. December 1, 2015, however his remuneration has been
disclosed from his date of joining i.e. June 29, 2015 for the year ended March 31, 2016.
** Mr. Rohit Kamat retired as Chief Financial Ofocer w.e.f. November 30, 2015, hence his remuneration for the year
ended March 31, 2016 has been disclosed till November 30, 2015.
*** The investment is made for meeting business requirements of the subsidiary.
(iii) Outstanding balances
(In
`
Million)
Name of the related party and nature of relationship
As at
March 31, 2017
March 31, 2016
Loans and advances given Subsidiaries
Persistent Systems, Inc.
43.85
33.20
Persistent Systems Pte /td
-
0.21
Persistent Systems France SAS
1.70
0.82
Persistent Telecom Solutions Inc.
-
4.90
(wholly owned subsidiary of Persistent Systems, Inc.)
Akshat Corporation (d.b.a Rgen Solutions)
0.10
-
(wholly owned subsidiary of Persistent Systems, Inc.)
Aepona /imited
0.98
0.38
(wholly owned subsidiary of Aepona Group /imited)
Aepona Software (Private) /imited
0.64
0.10
(wholly owned subsidiary of Valista /imited)
Persistent Systems Malaysia Sdn. Bhd
0.17
1.23
Persistent Systems M¸xico, S.A. de C.V.
1.92
-
Persistent Systems Germany GmbH
0.51
-
Associate
Klisma eServices Private /imited @
0.81
0.81
Total
50.68
41.65
Advances received
Subsidiaries
Persistent Telecom Solutions Inc.
20.18
10.16
(wholly owned subsidiary of Persistent Systems, Inc.)
Persistent Systems Pte /td
0.11
-
Persistent Systems Israel /td.
0.01
-
20.30
10.16