Amal Ltd 2017-18

Amal Ltd | Annual Report 2017-2018 ( ` 000) Note 23 Contingent liabilities and commitments 2017-18 2016-17 a) Claims against the Company not acknowledged as debts in respect of: i) Sales tax 6,669 6,669 ii) Unsecured creditors - 13,059 b) Capital commitments 524 3,709 Note 24 Related Party Disclosures As per Ind AS 24 Related Party Disclosure, Related Parties and transactions with them in the ordinary course of business are disclosed below: a) Name of the Related Party and nature of relationship Name of the Related Party Description of relationship 1. Atul Finserv Ltd Investing Company 2. Atul Ltd Holding Company 3. Key Management Personnel S S Lalbhai Chairman P N Ogale Managing Director (from July 12, 2015 to December 14, 2016) R Kumar Managing Director (effective March 24, 2017) T R Gopi Kannan Director S A Shah Independent Director A R Jadeja Independent Director S Mahalakshmi Independent Director S R Kalra Chief Financial Officer (up to January 13, 2018) Y S Vyas Chief Financial Officer (from January 14, 2018) A T Mankodi Company Secretary ( ` 000) b) Transactions with Related Parties 2017-18 2016-17 i) Sales and income 1. Sale of goods Atul Ltd 2,59,113 2,14,148 ii) Purchases and expenses 1. Service charges paid Atul Ltd 4,024 2,884 2. Reimbursements of expenses recovered | paid Reimbursements paid: Atul Finserv Ltd 8 16 Reimbursements recovered: Atul Ltd 130 41 3. Lease rent paid Atul Ltd 8 8 iii) Other transactions 1. Repayments of loan Atul Ltd 20,000 32,500 2. Redemptions of preference shares Atul Ltd 20,000 - 3. Sale of plant and machinery Atul Ltd - 477 Notes to the Financial Statements