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Atul Ltd | Annual Report 2010-11

Schedules

forming part of accounts

SCHEDULE 16 NOTES FORMING PART OF THE ACCOUNTS

(contd)

10(c) Material transactions with related parties (contd)

(

crores)

No Name of the related

party

Subsidiary

companies

Associate

companies

Enterprises over

which control

exercised by key

management

personnel

Enterprises

over which

significant

influence

exercised

Key

management

personnel

Relatives

of key

management

personnel

Welfare

funds

3 Interest paid on fixed

deposits

Mr Sunil S Lalbhai

–

0.04

–

(0.03)

–

Dr Vimla S Lalbhai

–

0.01

–

(0.01)

–

Ms Nishtha S Lalbhai

–

0.03

–

(0.02)

–

4 Investments

Preference Shares in

Amal Ltd*

– 10.00

–

(–)

–

Equity Shares in Atul

Europe Ltd

6.83

–

(–)

–

Equity Shares in Anchor

Adhesives Private Ltd

–

1.47

–

(–)

–

5 Guarantees given

Atul Europe Ltd

9.50

–

(–)

–

Outstanding balances

1 Payables

Atul Europe Ltd

0.89

–

(0.17)

–

Atul Deutschland GmbH

0.84

–

(0.14)

–

LAPOX Polymers Private

Ltd

–

1.88

–

(0.05)

–

2 Receivables

Atul Europe Ltd

27.75

–

(28.27)

–

Atul Americas Inc

15.24

–

(9.45)

–

Ameer Trading

Corporation Ltd

13.40

–

(5.66)

–

Amal Ltd

–

15.26

–

– (21.29)

–

Related party relationship is as identified by the Company on the basis of information available with the management and

relied upon by the Auditors.

* Preference Shares have been issued by Amal Ltd worth

10.00 crores in terms of BIFR order.