SUBSIDIARY COMPANIES - ITC Ltd
SUBSIDIARY COMPANIES - ITC Ltd
SUBSIDIARY COMPANIES - ITC Ltd
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<strong>ITC</strong> INFOTECH INDIA LIMITED<br />
5. DISCLOSURE OF TRANSACTIONS BETWEEN THE COMPANY AND RELATED PARTIES AND THE STATUS OF OUTSTANDING BALANCES AS ON 31ST MARCH<br />
Description<br />
Holding Company Wholly Owned Subsidiaries Fellow Subsidiaries Key Management Personnel<br />
2012 2011 2012 2011 2012 2011 2012 2011<br />
<strong>ITC</strong> Infotech <strong>ITC</strong> Infotech Pyxis Solutions <strong>ITC</strong> Infotech <strong>ITC</strong> Infotech Pyxis Solutions<br />
Limited (UK) (USA), INC. LLC Limited (UK) (USA), INC. LLC<br />
` ` ` ` ` ` ` ` ` ` ` `<br />
Sale of Goods / Services 91,28,51,772 83,10,67,971 38,26,62,278 86,38,92,757 2,01,11,115 37,61,47,120 56,70,65,514 1,68,98,332 70,95,676 1,25,86,479 — —<br />
Purchase of Goods / Services 37,88,047 45,73,881 37,47,73,011 — — 24,67,15,727 27,03,589 — — 32,02,321 — —<br />
Rent paid 1,39,33,282 1,05,65,530 — — — — — — — — — ––<br />
Remuneration to Key Managerial Personnel — — — — — — — — — — 3,78,46,983 4,15,16,313<br />
Reimbursement of Contractual Remuneration 3,64,95,829 2,28,86,957 — — — — — — — — — ––<br />
Remuneration of managers on<br />
deputation recovered 17,96,029 11,09,309 — — — — — — — — — ––<br />
Expenses recovered 22,73,846 41,39,281 73,02,820 2,58,88,632 — 32,87,992 2,55,91,005 — — 10,489 — —<br />
Expenses reimbursed 6,75,51,822 4,79,88,196 1,29,57,637 2,05,45,598 — 34,76,269 1,85,78,281 — — — — ––<br />
Receipt towards Loan Repayment — — — — — — — — — — 7,91,761 2,43,500<br />
Interest recovered on Loans — — — — — — — — — — 10,307 12,718<br />
Loans received 3,03,85,00,000 2,39,61,00,000 — — — — — — — — — ––<br />
Loan repaid 3,96,10,00,000 2,01,25,00,000 — — — — — — — — — ––<br />
Balances as on 31st March — — — — — — — — — — — —<br />
i) Debtors / Receivables 96,38,027 1,80,90,356 8,07,08,913 35,20,96,438 19,17,784 6,93,10,266 31,47,62,165 14,76,451 — 39,87,635 — —<br />
ii) Loans Taken 57,00,00,000 1,49,25,00,000 — — — — — — — — — —<br />
iii) Loans Given — — — — — — — — — — 9,13,258 14,12,466<br />
iv) Creditors / Payables 93,87,302 81,32,468 20,53,14,450 2,05,45,598 — 16,47,00,500 2,81,57,825 — — — 19,64,762 —<br />
35 The financial statements for the year ended 31st March, 2011 had been prepared as per the then applicable, pre-revised Schedule VI to the Companies Act, 1956. Consequent to<br />
the notification of Revised Schedule VI under the Companies Act, 1956, the financial statements for the year ended 31st March, 2012 are prepared as per Revised Schedule VI.<br />
Accordingly, the previous year figures have also been reclassified to conform to this year’s classification. The adoption of Revised Schedule VI for previous year figures does not<br />
impact recognition and measurement principles followed for preparation of financial statements.<br />
STATEMENT REGARDING <strong>SUBSIDIARY</strong> <strong>COMPANIES</strong><br />
PURSUANT TO SECTION 212 OF THE <strong>COMPANIES</strong> ACT, 1956<br />
Sl. Name of the Subsidiary Number of Extent of Profits / (Losses) so far it concerns the Profits / (Losses) so far it concerns the<br />
No. Company Shares held Holding members of the Holding Company members of the Holding Company<br />
by the and not dealt with in the books of and dealt with in the books of<br />
Company Account of the Holding Company Account of the Holding Company<br />
For the Financial For the Previous For the Financial For the Previous<br />
Year of the Financial Year(s) Year of the Financial Year(s)<br />
Subsidiary since it became Subsidiary since it became<br />
a Subsidiary a Subsidiary<br />
1 <strong>ITC</strong> INFOTECH LIMITED, (UK) (*) 685,815 100% GBP 21,25,817 GBP 41,80,399 NIL NIL<br />
INR 17,31,69,053 INR 34,05,35,303<br />
2 <strong>ITC</strong> INFOTECH (USA), INC. (**) 182,000 100% USD 7,11,869 (USD 10,72,695) NIL NIL<br />
INR 3,62,19,895 (INR 5,45,78,722)<br />
3 PYXIS SOLUTIONS LLC. (**) Note 100% USD 88,419 USD 14,20,016 NIL NIL<br />
INR 44,98,759 INR 7,22,50,414<br />
The financial year of all the subsidiaries ended on 31 March, 2012.<br />
(*) The Indian Rupee (INR) equivalent figures have been arrived at by applying the year end interbank exchange rate of GBP 1 = INR 81.46<br />
(**) The Indian Rupee (INR) equivalent figures have been arrived at by applying the year end interbank exchange rate of USD 1 = INR 50.88<br />
Note – Pyxis Solutions LLC. is a New York Limited Liability Company and does not have any share capital. <strong>ITC</strong> Infotech (USA), Inc., holds 100%<br />
membership interest of Pyxis Solutions LLC.<br />
B. Sumant<br />
On behalf of the Board<br />
Managing Director<br />
Place : Bangalore S. Sivakumar Vice Chairman<br />
Date : 8th May, 2012 R. Batra Chief Financial Officer S. V. Shah Company Secretary<br />
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