Together good things happen - Airtel
Together good things happen - Airtel Together good things happen - Airtel
16. Related Party Disclosures : In accordance with the requirements of Accounting Standards (AS) -18 on Related Party Disclosures, the names of the related parties where control exists and/or with whom transactions have taken place during the year and description of relationships, as identified and certified by the management are: List of Related Parties: Key Management Personnel : Sunil Bharti Mittal Akhil Gupta Manoj Kohli Sanjay Kapoor (w.e.f. March 1, 2010) Other Related Parties Name of the related Party and relationship Entities where Key Management Personnel exercises significant influence / Group Companies Beetel Teletech Limited (formerly Bharti Teletech Limited) Bharti Airtel Employees Welfare Trust (formerly Bharti Tele-ventures Employees Welfare Trust) Bharti Axa General Insurance Company Limited Bharti Axa Investment Managers Private Limited Bharti Axa Life Insurance Company Limited Bharti Enterprises Limited Bharti Foundation Bharti Realty Holdings Limited (formerly Tamarind Projects Private Limited) Bharti Realty Limited (formerly Bharti Realty Private Limited) Bharti Retail Limited (formerly Bharti Retail Private Limited) Bharti Wal-Mart Private Limited Centum Learning Limited Comviva Technologies Limited Fieldfresh Foods Private Limited (formerly Bharti Del Monte India Private Limited) Guernsey Airtel Limited Jataayu Software Limited (merged with Comviva Technologies Limited w.e.f 01-04-2008) Jersey Airtel Limited Telecom (Seychelles) Limited Entity having significant influence Singapore Telecommunications Limited Pastel Limited Bharti Telecom Limited
Related Party Transaction for 2009-10 (Rs '000) Nature of transaction Bharti Singapore Pastel Bharti Comviva Beetel Teletech Telecom Bharti Realty Guernsey Bharti Realty Fieldfresh Foods Bharti AXA Telecom Telecommunications Limited Wal-Mart Technologies Limited (Seychelles) Limited Airtel Holdings Private Limited Life Insurance Limited Limited Private Limited (formerly Limited (formerly Limited Limited (formerly Company Limited Bharti Bharti Realty (formerly Bharti Del Limited Teletech Private Tamarind Monte India Limited) Limited) Project Private Private Limited) Limited) Purchase of fixed assets/Bandwidth - (170,856) - - (2,379) (677,881) - - - - - - Sale of fixed assets - - - - - - - - - - - - Purchase of Investments - - - - - - - - - - - - Sales of Investments - - - - - - - - - - - - Rendering of services - 1,353,918 - 5,435 6,991 239,455 40,582 - 3,978 - - 15,215 Receiving of services - (855,914) - - (479,737) (354,530) (18,904) (389,683) - (14,354) - - Management fee (including service tax) - - - - - - - - - - - - Fund transferred/includes expenses incurred on behalf of others - - - 2,427 25,889 1,248 2,821 - - - 820 - Fund received/includes expenses incurred on behalf of Company (9,078) - - - - - - (9,253) - - - - Employee related transaction incurred on behalf of others - - - - - - - - - - - - Employee related transaction incurred on behalf of Company - - - - - - - (658) - - - - Salary - - - - - - - - - - - - Donation - - - - - - - - - - - - Amount received on exercise of ESOP options - - - - - - - - - - - - Security deposit/Advances paid - - - - - - - 55,197 - - - - Loan to Related Party - - - - - - - - - - - - Interest received on fund transferred - - - - - - - - - - - - Dividend paid 1,719,972 - 591,319 - - - - - - - - - Closing balance - 442,749 - 7,266 (36,669) 75,369 4,298 627,502 7,748 8,487 - 250 Unsecured Loan - - - - - - - - - - - - Creditors - - - - (36,669) - - - - - - - Loans and Advances - - - 2,004 - - - 627,502 - 8,487 - - Debtors - 442,749 - 5,262 - 75,369 4,298 - 7,748 - - 250 Closing Balance - 442,749 - 7,266 (36,669) 75,369 4,298 627,502 7,748 8,487 - 250 Maximum Loans and Advance Outstanding during the year 9,078 - - 2,427 - - - 627,502 - 8,487 - - Guarantees and Collaterals - - - - - - - - - - - - Bharti Airtel Annual Report 2009-10 147
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Related Party Transaction for 2009-10<br />
(Rs '000)<br />
Nature of transaction Bharti<br />
Singapore Pastel Bharti Comviva Beetel Teletech Telecom Bharti Realty Guernsey Bharti Realty Fieldfresh Foods Bharti AXA<br />
Telecom Telecommunications Limited Wal-Mart Technologies Limited (Seychelles) Limited <strong>Airtel</strong> Holdings Private Limited Life Insurance<br />
Limited Limited Private Limited (formerly Limited (formerly Limited Limited (formerly Company<br />
Limited Bharti Bharti Realty (formerly Bharti Del Limited<br />
Teletech Private Tamarind Monte India<br />
Limited) Limited) Project Private Private<br />
Limited) Limited)<br />
Purchase of fixed assets/Bandwidth - (170,856) - - (2,379) (677,881) - - - - - -<br />
Sale of fixed assets - - - - - - - - - - - -<br />
Purchase of Investments - - - - - - - - - - - -<br />
Sales of Investments - - - - - - - - - - - -<br />
Rendering of services - 1,353,918 - 5,435 6,991 239,455 40,582 - 3,978 - - 15,215<br />
Receiving of services - (855,914) - - (479,737) (354,530) (18,904) (389,683) - (14,354) - -<br />
Management fee (including service tax) - - - - - - - - - - - -<br />
Fund transferred/includes expenses incurred<br />
on behalf of others - - - 2,427 25,889 1,248 2,821 - - - 820 -<br />
Fund received/includes expenses incurred<br />
on behalf of Company (9,078) - - - - - - (9,253) - - - -<br />
Employee related transaction<br />
incurred on behalf of others - - - - - - - - - - - -<br />
Employee related transaction<br />
incurred on behalf of Company - - - - - - - (658) - - - -<br />
Salary - - - - - - - - - - - -<br />
Donation - - - - - - - - - - - -<br />
Amount received on exercise<br />
of ESOP options - - - - - - - - - - - -<br />
Security deposit/Advances paid - - - - - - - 55,197 - - - -<br />
Loan to Related Party - - - - - - - - - - - -<br />
Interest received on fund transferred - - - - - - - - - - - -<br />
Dividend paid 1,719,972 - 591,319 - - - - - - - - -<br />
Closing balance - 442,749 - 7,266 (36,669) 75,369 4,298 627,502 7,748 8,487 - 250<br />
Unsecured Loan - - - - - - - - - - - -<br />
Creditors - - - - (36,669) - - - - - - -<br />
Loans and Advances - - - 2,004 - - - 627,502 - 8,487 - -<br />
Debtors - 442,749 - 5,262 - 75,369 4,298 - 7,748 - - 250<br />
Closing Balance - 442,749 - 7,266 (36,669) 75,369 4,298 627,502 7,748 8,487 - 250<br />
Maximum Loans and Advance<br />
Outstanding during the year 9,078 - - 2,427 - - - 627,502 - 8,487 - -<br />
Guarantees and Collaterals - - - - - - - - - - - -<br />
Bharti <strong>Airtel</strong> Annual Report 2009-10<br />
147
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