annual-report-FY2021

86 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS ANNEXURE II Form No. AOC–2 (Pursuant to clause (h) of sub-section (3) of section 134 of the Act and Rule 8(2) of the Companies (Accounts) Rules, 2014) Form for disclosure of particulars of contracts/arrangements entered into by the Company with related parties referred to in sub-section (1) of section 188 of the Companies Act, 2013 including certain arms length transactions under third proviso thereto 1. Details of contracts or arrangements or transactions not at arms length basis— There were no contracts or arrangements or transactions entered into during the year ended 31 st March, 2021, which were not at arms length basis. 2. Details of material contracts or arrangement or transactions at arms length basis— The details of material contracts or arrangements or transactions at arms length basis for the year ended 31 st March, 2021 are as follows: S r . No Name(s) of the related party & Nature of relationship Nature of transactions Transactions Value (Rs. in Crores) Duration of transactions Salient terms of transactions Date of approval by the Board Amount paid in advance (Rs. in Crores) 1. Mahindra Vehicle Manufacturers Limited (MVML) (Wholly owned subsidiary of the Company) Purchase of Goods 7046.26 April 2020 – March 2021 The related party transactions (RPTs) entered during the year were in the ordinary course of business and on arms length basis. Since these RPTs are in the ordinary course of business and are at arms length basis, approval of the Board is not applicable. However, necessary approvals were granted by the Audit Committee from time to time. Nil Purchase of PPE 2.26 Purchase of Intangible Assets 147.67 Purchase of Services 102.93 Sale of Goods 786.28 Sale of Services 0.48 Investment 560.00 Interest Income (Preference) 39.00 Interest Income (ICD) 5.18 Reimbursement Received from parties 124.64 Reimbursement made to parties 6.28 Other Expenses 0.33 Other Income 0.02 Deputation of Personnel 12.24 TOTAL 8,833.57 For and on behalf of the Board ANAND G. MAHINDRA Executive Chairman Mumbai, 28 th May, 2021