d. Rights, Preferences and Restrictions attached to Shares.
The Company has one class of equity shares having a par value of '''' 10/- each. Each shareholder is eligible for dividend and one vote per share held. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding. The dividend proposed by the Board of Directors is subject to approval of shareholders in the ensuing Annual General Meeting.
1. Due to the prolonged delay in the realization of dues from the customers and the tight liquidity conditions prevailing, the company could not pay the External Commercial Borrowing Installment of USD 35 Million due on 26th March, 2016, as well as certain statutory dues. The management is in the process of raising necessary resources and expediting the collection of its receivables to improve the liquidity conditions. (Note -4 d. of Standalone Financial Statement)
2. Exceptional items (Note -26 of Standalone Financial Statement)
During the year, Company has transferred the "Defense Technology Businesses” as a going concern on slump sale basis to its Wholly Owned Subsidiaries for a consideration of '''' 2,024.01 Cr as valued by an independent valuer. The resultant loss on this transactions has been disclosed under "Exceptional item”
Exceptional item for the previous year ended 31 March 2015 represents gain of Rs. 134.10 crores towards redemption of its 48.22 % shares in Rolta International Inc., and transfer of 100% shares in Rolta UK Limited & 100% Shares in Rolta Middle East FZ LLC to Rolta Global BV, a subsidiary of the Company.
3. Related Parties (Note -30 of Standalone Financial Statement)
a. List of Related Parties and Relationships
i. Party Relation
Rolta International Inc. USA Subsidiary
Rolta Global BV Subsidiary
Rolta Thales Limited. Subsidiary
Rolta Optronics & Communication Pvt. Ltd Subsidiary
Rolta Middle East FZ LLC Subsidiary of Rolta Global BV
Rolta Muscat LLC Subsidiary of Rolta Middle East FZ LLC
Rolta UK Ltd Subsidiary of Rolta Global BV
Rolta Saudi Arabia Ltd. Subsidiary of Rolta Middle East FZ LLC
Rolta Benelux BV Subsidiary of Rolta UK Ltd.
Rolta Deutschland GmbH Subsidiary of Rolta UK Ltd. (wound up on November 17, 2015)
Rolta Canada Ltd Subsidiary of Rolta International Inc
Rolta Asia Pacific Pty Ltd. Subsidiary of Rolta International Inc.
Rolta Advizex Technologies LLC Subsidiary of Rolta International Inc.
Rolta LLC Subsidiary of Rolta International Inc.
Rolta Americas LLC Subsidiary of Rolta International Inc.
Rolta Hungary KFT Subsidiary of Rolta International Inc.
Rolta Defence Technology Systems Pvt Ltd. Subsidiary
ii. Key Management Personnel / Directors
Mr. K K Singh Chairman & Managing Director
Mr. A D Tayal Jt. Managing Director & Chief Operating Officer — Domestic Operations
Mr.Hiranya Ashar (Upto 12.02.2016) Jt. Managing Director-International Operations &
Group Chief Financial Officer
Mr.Ramakrishna Prabhu (From 12.02.2016) Senior Vice President Finance &
Chief Financial Officer
Mr. Verinder Khashu Company Secretary & Head Legal/Compliance
iii. Enterprises over which significant influence exercised by Key Management Personnel / Directors
Rolta Private Limited Company controlled by Mr. K K Singh
Rolta Holding & Finance Corporation Pvt. Ltd Company controlled by Mr. K K Singh
Rolta Power Pvt. Ltd. Company controlled by Mr. K K Singh
Rolta Foundation Trust in which Mr. K K Singh is Trustee
b. Disclosures required for related parties transactions
(Current year figures are shown in bold & comparative figures for Previous year are shown below the current year)