Annual Report FY 2009-10 - Welspun

C rp LtdDirectors /Key Management PersonnelName of the Related PartyNature of Relationship* Ceased to be director w.e.f 3 October 2009.Disclosure in respect of transactions which are more than 10% of the total Transactions of the same type with related partyduring the year:i. Sale of Goods/Services and Recoveries include from - Welspun Tradings Limited Rs. 21,909.58 million (Rs. 28,741.51million) (Refer Note 25), Welspun Tubular LLC Rs. 4,302.50 million (Rs. 2,730.75 million)ii.iii.iv.Sale of fixed assets include to - Welspun Tubular LLC Rs. 0.81 million (Rs.0.03 million), Welspun Power and Steel LimitedRs. 0.87 million (Rs.0.26 million), Remi Metals Gujarat Limited Rs. 1.63 million (Rs. Nil).Purchase of Goods and Services include from- Welspun Tubular LLC Rs. Nil (Rs. 151.04 million), Welspun Pipes Inc Rs. Nil(Rs. 603.29 million), Welspun Power and Steel Limited Rs. 48.25 million (Rs. 37.47 million), Welspun Logistics Limited Rs.17.93 million (Rs. 23 million), Welspun Global Trade LLC Rs. 13.82 million (Rs. Nil)Purchase of Fixed Assets includes from - Welspun Pipes Limited Rs. 1,074.59 million (Rs. Nil)v. Expenditure includes -Rent paid to - Vipuna Trading Limited Rs. 6.66 million (Rs. 6.62 million), Welspun Realty PrivateLimited Rs. 81.96 million (Rs. 47.51 million).vi.vii.Donation paid to - Welspun Foundation for Health and Knowledge Rs. 18 million (Rs. 24 million) (meant for corporatesocial responsibility activities).Interest Income includes - Interest received from Welspun Pipes Inc Rs. 204.09 million (Rs. 139.24 million).viii. Loans, Advances and Deposits includes given to - Welspun Pipes Inc Rs 1,843.22 million (Rs. 4,195.60 million) and repaidduring the year Rs. 6,105.32 million, to Welspun Pipes Limited given and repaid Rs. Nil (Rs. 1,000 million).ix.Investment in Equity Shares of - Welspun Infratech Limited Rs. 1,000.85 million (Rs. Nil), Welspun Urja India Limited Rs.Nil (Rs. 0.26 million), Welspun Steel Plates and Coils Private Limited Rs. 0.10 million (Rs. Nil).x. Sale of Investment in Equity Shares of - Welspun Urja India Limited of Rs. 0.26 million (Rs. Nil) to Welspun Energy Limited ,Welspun Steel Plates and Coils Private Limited Rs. 0.10 million (Rs. Nil) to other related parties, Adani WelspunExploration Limited Rs. Nil (Rs.2.96 million) to Welspun Natural Resources Limitedxi.xii.Share Application Money given includes to -Welspun Pipes Limited Rs.373 million (Rs. 1,288.95 million), WelspunNatural Resources Private Limited Rs. Nil (Rs. 172.50 million), Welspun Infratech Limited Rs. 778.35 million (Rs. Nil).Share Application Money given includes repaid by - Adani Welspun Exploration Limited Rs. Nil (Rs. 31.14 million),Welspun Natural Resources Private Limited Rs. 63.30 million (Rs. Nil).xiii. Issue of Equity Shares by exercise of employee stock option scheme (ESOP)- Whole Time Directors Rs. 14 million (Rs. 0.94million). Issue of Equity Shares by conversion of warrants to Krishiraj Trading Limited Rs. Nil (Rs. 886.90 million)xiv. Reimbursement of Expenses includes to Welspun India Limited Rs. 64.95 million (Rs. 68.93 million), Welspun Power andSteel Limited Rs. 8.68 million (Rs. 0.93 million), Welspun Anjar SEZ Limited Rs. Nil (Rs. 28.63 million).Disclosure of Closing balances as at 31 March 2010i. Loans, Advances and Deposits given include - Welspun Pipes Inc Rs. Nil (Rs. 4,762.58 million), Welspun Logistics LimitedRs. 52.40 million (Rs. 23.40 million), Welspun Realty Private Limited Rs.425.93 million (Rs. 467.60 million)ii.iii.iv.Sundry Debtors include - Welspun Tubular LLC Rs. 49.72 million (Rs. 1860.99 million), Welspun Tradings Limited Rs.1808.83 million (Rs. 169.02 million )Sundry Creditors include - Welspun India Limited Rs. Nil (Rs. 0.97 million), Welspun Anjar SEZ Limited Rs. 23.59 million(Rs. 28.62 million), Dahej Infrastructure Private Limited Rs. 2.86 million (Rs. Nil).Investments held include of - Welspun Pipes Inc Rs. 645.95 million (Rs. 645.95 million), Welspun Infratech Limited Rs.1,000.85 million (Rs. Nil).v. Share Application Money given to - Welspun Pipes Limited Rs. 1,300.48 million (Rs. 1,520.65 million), Welspun NaturalResources Private Limited Rs. 71.56 million (Rs. 174.86 million), Welspun Infratech Limited Rs. 779.85 million (Rs. Nil)vi.Guarantees and Collaterals provided include issued to - Welspun Pipes Inc Rs. 3,592 million (Rs. 4,057.60 million),Welspun Tradings Limited Rs. 1,609.80 million (Rs. 1,609.80 million).77