L&T Finance : Disclosure on Related Party Transaction - March 31, 2021

May 24, 2021
National Stock Exchange of India Limited	BSE Limited
Exchange Plaza,	Corporate Relations Department,
Plot No. C/1, G Block,	1st Floor, New Trading Ring,
Bandra - Kurla Complex, Bandra (East),	P. J. Towers, Dalal Street,
Mumbai - 400 051.	Mumbai - 400 001.
Symbol: L&TFH	Security Code No.: 533519

Kind Attn: Head - Listing Department / Dept of Corporate Communications

Sub: Compliance under Regulation 23(9) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Dear Sir / Madam,

In terms of Regulation 23(9) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed disclosure of related party transactions on a consolidated basis, in the format specified in the applicable accounting standards for the year ended March 31, 2021.

We request you to take the aforesaid on records.

Thanking you,

Yours faithfully,

For L&T Finance Holdings Limited

Apurva Rathod

Company Secretary and Compliance Officer

Encl: As above

L&T Finance Holdings Limited

Regula on 23(9) of the Securi es and Exchange Board of India (Lis ng Obliga ons and Disclosure Requirements) Regula ons, 2015

Consolidated disclosure of related party transactions for the year ended March 31, 2021

1. List of related parties (with whom transactions were carried out during current or previous year)

S. No	Particulars	Relationship
1	Larsen & Toubro Limited	Holding Company
2	Larsen & Toubro Infotech Limited	Fellow Subsidiary Company
3	L&T Capital Company Limited	Fellow Subsidiary Company
4	Larsen & Toubro Electromech LLC	Fellow Subsidiary Company
5	L&T-MHPS Boilers Private Limited	Fellow Subsidiary Company
6	L&T Hydrocarbon Engineering Limited	Fellow Subsidiary Company
S. No	Key management personnel
1	Mr Dinanath Dubhashi (re-appointed as a Managing Director and Chief Executive Officer	Managing Director and Chief Executive Officer
	w.e.f April 14, 2021)
2	Mr. S. V. Haribhakti (re-appointed as an Independent Director w.e.f April 1, 2019)	Non-executive chairman (Independent director)
3	Mr. Prabhakar B.	Non-executive director
4	Mr. R. Shankar Raman	Non-executive director
5	Dr. Rajani R Gupte	Independent director
6	Mr. P. V. Bhide (re-appointed as an Independent Director w.e.f April 1, 2019)	Independent director
7	Mr. Thomas Mathew T. (re-appointed as an Independent Director w.e.f July 1, 2020)	Independent director
8	Ms. Nishi Vasudeva	Independent director
9	Mr. Pavninder Singh	Nominee director
(b)	Disclosure of related party transactions :		₹ in crore
S. No	Nature of transaction*	2020-21	2019-20
1	Brand license fees to
	Larsen & Toubro Limited	8.08	51.00

• Repair and maintenance to

Larsen & Toubro Limited

-

0.09

• Reimbursement of expenses paid to / (recovered from)

Larsen & Toubro Limited (net)

12.62

0.05

• Interest expense on interest corporate borrowing / NCD

	L&T Capital Company Limited		0.13
	Larsen & Toubro Limited	113.69	22.96
5	Professional fees to
	Larsen & Toubro Limited	6.13	6.15
	Larsen & Toubro Infotech Limited	1.18	4.27
6	Advisory fees to
	L&T-MHPS Boilers Private Limited	-	0.05

• Inter corporate deposits/NCD borrowed from

L&T Capital Company Limited	-	1.20
Larsen & Toubro Limited	2,445.00	1,000.00

• Inter corporate deposits repaid to

L&T Capital Company Limited	-	4.45
Larsen & Toubro Limited	-	1,000.00

• Issue of equity shares on account of rights issue

Larsen & Toubro Limited

1,907.65

-

• Transactions shown above are excluding of GST, if any.

L&T Finance Holdings Limited

Regula on 23(9) of the Securi es and Exchange Board of India (Lis ng Obliga ons and Disclosure Requirements) Regula ons, 2015

Consolidated disclosure of related party transactions for the year ended March 31, 2021

1. Remuneration to key management personnel ***
   S. No. Name of key management personnel

		Short-Term	Other Long	Short-Term	Other Long
		employee	term benefits	employee	term benefits
		benefits		benefits
1	Mr. Dinanath Dubhashi	5.76	-	10.53	0.77
2	Mr. S. V. Haribhakti	0.64	-	0.51	-
3	Mr. Prabhakar B.	0.14	-	0.08	-
4	Dr. Rajani R. Gupte	0.47	-	0.39	-
5	Mr. P. V. Bhide	0.50	-	0.48	-
6	Mr. Thomas Mathew T.	0.52	-	0.49	-
7	Ms. Nishi Vasudeva	0.50	-	0.48	-
8	Mr. Pavninder Singh	0.21	-	0.10	-

• Key management remuneration excludes provision for gratuity, pension and compensated absences, since it is provided on actuarial basis for the Company as a whole.

(d)	Amount due to/from related parties:		₹ in crore
S. No.	Nature of transactions	As at March 31, 2021	As at March 31, 2020

• Non convertible debenture (borrowings)

Larsen & Toubro Limited

2,015.38

40.45

• Interest accrued on non convertible debenture (borrowings)

Larsen & Toubro Limited

76.73

0.81

• Trade and other payable

	Larsen & Toubro Electromech LLC	0.01	0.01
	Larsen & Toubro Limited *	8.52	54.10
	L&T Hydrocarbon Engineering Limited	0.02	0.02
	Larsen & Toubro Infotech Limited	0.29	0.01
4	Trade and other receivable
	Larsen & Toubro Limited **	10.03	4.09

• includes ₹ Nil (Previous year : ₹ 0.02 crore) payable disclosed in group of liabilities classified as held for sale. ** includes ₹ Nil (Previous year : ₹ 0.41 crore) receivable disclosed in group of assets classified as held for sale.