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Notes forming part of onancial statements (Contd.)
282
•
Annual Report 2016-17
(In
`
Million)
Name of the related party and nature of relationship
As at
March 31, 2017
March 31, 2016
Investments
Subsidiaries
Persistent Systems, Inc. (including share application
money pending allotment
`
668 Million as at March
31, 2016)
2,478.01
1,868.92
Persistent Systems Pte /td
15.50
15.50
Persistent Systems France SAS
97.47
97.47
Persistent Systems Malaysia Sdn. Bhd.
102.25
102.25
Persistent Systems Germany GmbH
2.02
-
Associates
Klisma eServices Private /imited @
0.05
0.05
Total
2,695.30
2,084.19
@ These balances are fully provided for.
(iv) Gurantee given on behalf of subsidiary
Persistent Systems /td has given a guarantee of $170,000 to a creditor (Sunlife Assurance Company of Canada)
on behalf of Persistent Systems Inc.
35. Employees stock option plans (ESOP)
Certain information in this note relating to number of shares, options and per share/option price has been disclosed
in full and is not rounded off as stated in note 46.
a) Details of Employee stock option plans
The Company has framed various share-based payment schemes for its employees. The details of various equity-
settled employee stock option plan (‘ESOP’) schemes adopted by the Board of Directors are as follows:
ESOP scheme
No. of options
granted #
Date of adoption
by the Board/
Members
Initial Grant date
Exercise period
Scheme I
4,560,500
Dec 11, 1999
Dec 11, 1999
*
Scheme II
753,200
Apr 23, 2004
Apr 23, 2004
10 Years
Scheme III
2,533,300
Apr 23, 2004
Apr 23, 2004
*
Scheme IV
6,958,250
Apr 23, 2006
Apr 23, 2006
10 Years
Scheme V
1,890,525
Apr 23, 2006
Apr 23, 2006
*
Scheme VI
1,216,250
Oct 31, 2006
Oct 31, 2006
10 Years
Scheme VII
1,784,975
Apr 30, 2007
Apr 30, 2007
10 Years
Scheme VIII
42,000
Jul 24, 2007
Jul 24, 2007
3 Years
Scheme IX
1,374,462
Jun 29, 2009
Jun 29, 2009
10 Years
Scheme X
3,062,272
Jun 10, 2010
Oct 29, 2010
3 Years
Scheme XI **
492,000
Jul 26, 2014
Nov 03, 2014
1 Year
Scheme XII ***
67,300
Feb 04, 2016
Apr 08, 2016
2.5 Months
# Adjusted for bonus issue of shares.
*
No contractual life is deoned in the scheme.
** The options under Scheme XI, which is a performance based ESOP scheme will vest after 3 years in proportion of
credit points earned by the employees every quarter based on performance. The maximum options which can be
granted under this scheme are 2,000,000.
*** The options under Scheme XII, ESOP scheme will vest after 1 year. The maximum options granted under this
scheme are 50 per employee.