| RELATED PARTY TRANSACTIONS |
NOTE 20 — RELATED PARTY TRANSACTIONS
| I. | Names of related parties and related party relationships: |
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Related party disclosures |
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| A. |
Names of related parties and related party relationships |
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| i) |
Parties where control exists |
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Subsidiaries |
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Lytus Technologies Pvt. Ltd – wholly-owned |
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Globa Health Sciences, Inc (deconsolidated on March 1, 2023) |
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Lytus Technologies Inc (deconsolidated on April 1, 2023) |
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Lytus Sri Sai Networks Private Limited (formerly known as Sri Sai Cable and Broadband Private Limited) (acquired on April 1, 2022) |
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| B. |
Key Management Personnel (KMP): |
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Dharmesh Pandya |
Chief Executive Officer and Director |
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Shreyas Shah |
Chief Financial Officer and Director |
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Robert M. Damante |
Independent Director |
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Rajeev Kheror |
Independent Director |
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Parvez M. Master |
Independent Director |
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Palle Srinivas |
Director (related to Sri Sai) |
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Palle Sunitha |
Director (related to Sri Sai) |
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|
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| C. |
Enterprise over which KMP has significant influence |
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Achalaa Communication Networks |
Partner in the firm (related to Sri Sai) |
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Ayyappa Digital Communications |
Partner in the firm (related to Sri Sai) |
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Bhuvanagiri Digital Communications |
Partner in the firm (related to Sri Sai) |
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Godavarikhani Digital Communications |
Partner in the firm (related to Sri Sai) |
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Husnabad Digital Communications |
Partner in the firm (related to Sri Sai) |
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Jammikunta Digital Communications |
Partner in the firm (related to Sri Sai) |
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Marriguda Digital Communications |
Partner in the firm (related to Sri Sai) |
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Sangareddy Digital Communications |
Partner in the firm (related to Sri Sai) |
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Sircilla Digital Communications |
Partner in the firm (related to Sri Sai) |
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Sri Sai Communications (KNR) |
Partner in the firm (related to Sri Sai) |
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Sri Sai Digital Communications |
Partner in the firm (related to Sri Sai) |
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SSC Kamareddy Communications |
Partner in the firm (related to Sri Sai) |
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Thandpur Digital Communications |
Partner in the firm (related to Sri Sai) |
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TS Communications |
Partner in the firm (related to Sri Sai) |
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Vemulawada Digital Communications |
Partner in the firm (related to Sri Sai) |
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Gayathri Digital Communications |
Partner in the firm (related to Sri Sai) |
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Sri Sai Communication & Internet Pvt Ltd |
Partner in the firm (related to Sri Sai) |
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SSC Fiber Home Networks Pvt. Ltd |
Partner in the firm (related to Sri Sai) |
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Achala Media Television Pvt Ltd |
Director (related to Sri Sai) |
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Sri Sai Cable and Digital Networks Pvt Ltd |
Partner in the firm (related to Sri Sai) |
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Kings Broadband Pvt Ltd |
Director (related to Sri Sai) |
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Inygo Digital Networks Private Limited |
Director (related to Sri Sai) |
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Sri Sai Future Solution Private Limited |
Director (related to Sri Sai) |
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Sscbpl Inygo Digital Nework Private Limited |
Director (related to Sri Sai) |
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Subhodaya Digital Entertainment Pvt Ltd |
Director (related to Sri Sai) |
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Lytus Technologies Inc |
Director |
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| D. |
Relatives of KMP: |
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Palle Vikas |
Relative of KMP (related to Sri Sai) |
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Palle Vivek |
Relative of KMP (related to Sri Sai) |
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Nimish Pandya |
Relative of KMP (brother of Dharmesh Pandya) |
Transactions and Balances with related parties during the
years ended March 31, 2025 and March 31, 2024 (Summary):
II. Transactions with related parties during
the year:
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Subsidiaries | | |
KMP | | |
Significant Influence Entity - KMP | | |
Relatives of KMP | |
| Sr. No. | |
Particulars | |
31st March
2025
(US$) | | |
31st March
2024
(US$) | | |
31st March
2025
(US$) | | |
31st March
2024
(US$) | | |
31st March
2025
(US$) | | |
31st March
2024
(US$) | | |
31st March
2025
(US$) | | |
31st March
2024
(US$) | |
| | |
Transactions made during the year | |
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| 1. | |
Subscription income | |
| — | | |
| — | | |
| — | | |
| — | | |
| 518,795 | | |
| — | | |
| — | | |
| — | |
| 2. | |
STB Installation charges | |
| — | | |
| — | | |
| — | | |
| — | | |
| 48,445 | | |
| 61,628 | | |
| — | | |
| — | |
| 3. | |
Loan taken | |
| — | | |
| — | | |
| 272,365 | | |
| 1,850,313 | | |
| — | | |
| — | | |
| — | | |
| 124,918 | |
| 4. | |
Loan write back | |
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| | | |
| | | |
| | | |
| | | |
| | | |
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| 5. | |
Loan Repayment | |
| — | | |
| — | | |
| 1,543,653 | | |
| 912,506 | | |
| — | | |
| — | | |
| 19,012 | | |
| 93,704 | |
| 6. | |
Commission expenses | |
| — | | |
| — | | |
| — | | |
| — | | |
| 1,305,186 | | |
| 1,047,025 | | |
| — | | |
| — | |
| 7. | |
Bandwidth charges | |
| — | | |
| — | | |
| — | | |
| — | | |
| 24,339 | | |
| 24,098 | | |
| — | | |
| — | |
| 8. | |
Sales/Purchase of materials | |
| — | | |
| — | | |
| — | | |
| — | | |
| 8,602 | | |
| 1,297 | | |
| — | | |
| — | |
| 9. | |
Fiber Maintenance Expense | |
| — | | |
| — | | |
| — | | |
| — | | |
| 1,502 | | |
| — | | |
| — | | |
| — | |
| 10. | |
Consultancy Services (Revenue) | |
| — | | |
| — | | |
| — | | |
| — | | |
| 1,061,622 | | |
| — | | |
| — | | |
| — | |
| 11. | |
IT support Charges | |
| — | | |
| — | | |
| — | | |
| —— | | |
| 5,908 | | |
| — | | |
| — | | |
| — | |
| 12. | |
Remuneration | |
| — | | |
| — | | |
| 141,797 | | |
| 285,294 | | |
| — | | |
| — | | |
| 38,286 | | |
| 36,103 | |
| 13. | |
Rent paid/ provided | |
| — | | |
| — | | |
| 7,802 | | |
| 7,459 | | |
| — | | |
| — | | |
| — | | |
| — | |
| 14. | |
Interest on loan | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| 212 | | |
| — | | |
| — | |
| 15. | |
Issue of Shares | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | |
| 16. | |
Investment in CCD of Subsidiary | |
| 3,817,490 | * | |
| 135,000 | * | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | |
| 17. | |
Reimbursement of expenses | |
| — | | |
| — | | |
| 92,246 | | |
| 29,266 | | |
| — | | |
| — | | |
| — | | |
| — | |
| 18. | |
Loans and Advances given | |
| — | | |
| — | | |
| — | | |
| — | | |
| 239,684 | | |
| 18,173 | | |
| — | | |
| — | |
| 19. | |
Loans and Advances received back | |
| — | | |
| — | | |
| — | | |
| 214,458 | | |
| — | | |
| — | | |
| — | | |
| — | |
| 20. | |
Advances for network acquisition | |
| — | | |
| — | | |
| — | | |
| — | | |
| 16,661 | | |
| — | | |
| — | | |
| — | |
| * | Transactions in consolidated financials eliminated as inter-company
transactions |
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Subsidiaries | | |
KMP | | |
Significant Influence Entity - KMP | | |
Relatives of KMP | |
| Sr No | |
Particulars | |
31st March
2025
(US$) | | |
31st March
2024
(US$) | | |
31st March
2025
(US$) | | |
31st March
2024 (US$) | | |
31st March
2025 (US$) | | |
31st March
2024 (US$) | | |
31st March
2025 (US$) | | |
31st March
2024 (US$) | |
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Balance Outstanding with related parties | |
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| 1. | |
Trade receivable | |
| — | | |
| — | | |
| — | | |
| — | | |
| 184,381 | | |
| 444,082 | | |
| — | | |
| — | |
| 2. | |
Trade Payables | |
| — | | |
| — | | |
| — | | |
| — | | |
| 2,862,917 | | |
| 3,202,118 | | |
| — | | |
| — | |
| 3. | |
Advance from Customers | |
| — | | |
| — | | |
| — | | |
| — | | |
| 5,853 | | |
| — | | |
| — | | |
| — | |
| 4. | |
Advances for network acquisition | |
| — | | |
| — | | |
| — | | |
| — | | |
| 4,012,167 | | |
| 1,354,871 | | |
| — | | |
| — | |
| 5. | |
Advances to suppliers | |
| — | | |
| — | | |
| — | | |
| — | | |
| 337,025 | | |
| 165,216 | | |
| — | | |
| — | |
| 6. | |
Other Loans & Advances | |
| — | | |
| — | | |
| — | | |
| — | | |
| 257,212 | | |
| 18,059 | | |
| — | | |
| — | |
| 7. | |
Borrowings
| |
| — | | |
| — | | |
| 164,124 | | |
| 1,458,845 | | |
| — | | |
| — | | |
| — | | |
| 31,019 | |
| 8. | |
Investment In Compulsory Convertible Debentures | |
| 7,805,507 | * | |
| 3,988,017 | * | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | |
| 9. | |
Outstanding Options | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| 91,813 | | |
| 94,118 | |
| * | The Balances have been eliminated in consolidated financials as
inter-company transactions. |
Compensation and benefits
to KMP would commence upon confirmation by independent compensation committee. The next compensation committee meeting is expected to
be held on or before September 30, 2025.
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