113 Note 29.3 (B) Transactions with related parties 2023-24 2022-23 c) Other transactions 1. Redemption of 0% redeemable and non-convertible preference shares - 200.00 Atul Ltd - 200.00 2. Unsecured loan (repayment) | disbursement1 (1,699.00) (503.00) Amal Speciality Chemicals Ltd (1,699.00) (503.00) 3. Direct investment made in Amal Speciality Chemicals Ltd1 2,199.00 5,000.14 Equity shares - 3,000.14 10% non-cumulative redeemable preference shares - 2,000.00 10.5% non-cumulative redeemable preference shares 2,199.00 - 1During 2023-24, the loans aggregating ` 1,699 lakhs as of March 31, 2023, is converted into 1,69,90,000, 10.50% non-cumulative redeemable preference shares at ` 10 per share, amounting to ` 1,699 lakhs and an additional investment of ` 500 lakhs made into 50,00,000, 10.50% non-cumulative redeemable preference shares at ` 10 per share. During 2022-23, the loans aggregating ` 5,000.14 lakhs are converted into 27,19,000 equity shares at ` 110.34 per share amounting to ` 3,000.14 lakhs and 2,00,00,000, 10% non-cumulative redeemable preference shares at ` 10 per share, amounting to ` 2,000 lakhs. (` lakhs) Note 29.3 (C) Key management personnel compensation 2023-24 2022-23 Remuneration 27.65 17.38 1. Short-term employee benefits1 18.25 7.48 2. Sitting fees to Independent Directors 9.40 9.90 1Compensation excludes provision for gratuity and compensated absences since these are based on actuarial valuation on an overall company basis. (` lakhs) Note 29.3 (D) Transactions with entities over which Key Management Personnel or their close family members have significant influence 2023-24 2022-23 Other transactions 1. Expenditure on Corporate Social Responsibility initiatives 12.05 20.85 Atul Foundation Trust 12.05 20.85 Note 29.3 Related party disclosures (continued)
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