Heritage Foods Limited | 30th Annual Report 2021-22

Financial Statements Company Overview Statutory Reports 227 41. Disclosure of Interest in Joint venture and associate: Nature of relationship Country of Incorporation Ownership interest (%) 31 March 2022 31 March 2021 SKIL Raigam Power (India) Limited Associate India 43.33% 44.22% Heritage Novandie Foods Private Limited Joint venture India 50.00% 50.00% 42. The Group has not extended any loans or advances in the nature of loans to its promoters, directors, key managerial personnel and its related parties, as defined under the Act, during the years ended 31 March 2022 and 31 March 2021. 43. Related party disclosures (a) Names of the related parties and nature of relationship Names of related parties Nature of relationship Heritage Novandie Foods Private Limited (“HNFPL”) Joint Venture SKIL Raigam Power (India) Limited Associate Heritage Finlease Limited Enterprise over which Vice -Chairperson and Managing Director, and Executive Director of the Company exercise signi ¿ cant in À uence NTR Memorial Trust Megabid Finance & Investment Private Limited Nirvana Holdings Private Limited Basavatarakam Indo-American Cancer Hospital Executive Director of the Company is one of the trustee N Bhuvaneswari (Vice Chairperson and Managing Director) Key Managerial Personnel (KMP) N Brahmani (Executive Director) M Sambasiva Rao (President) Srideep Madhavan Nair Kesavan (Chief Executive Of ¿ cer) (effective from 28 July 2021) A Prabhakara Naidu (Chief Financial Of ¿ cer) Umakanta Barik (Company Secretary & Compliance Of ¿ cer) Srivishnu Raju Nandyala Non-Executive Independent Directors Rajesh Thakur Ahuja Aparna Surabhi D. Seetharamaiah (till 1 July 2020) Muthu Raju Paravasa Raju Vijay Kumar (effective from 1 November 2021) Dr. Nagaraja Naidu Vadlamudi Non-Executive Director (b) Transactions with related parties For the year ended 31 March 2022 31 March 2021 Heritage Novandie Foods Private Limited Investment made (including financial guarantee) 105.15 74.64 Sale of products 4.27 0.10 Purchase of products 0.01 - Financial guarantee income 2.20 1.23 Lease rental income 1.09 0.95 Expenditure incurred on behalf of HNFPL 4.67 1.86 Heritage Finlease Limited Remittance of loan proceeds collected on behalf of Heritage Finlease Limited 1,372.71 1,012.12 Disbursement of loans to employees of the Company - 17.92 Cattle loan facilitation charges 2.58 2.03 Reimbursement of insurance proceeds received on behalf of Heritage Finlease Limited 0.03 - Deposit paid 1.51 - Summary of the significant accounting policies and other explanatory information (All amounts in ` millions, except share data and where otherwise stated) Consolidated