Regulation 23(9) SEBI Regulation 2015, please find enclosed herewith disclosure of related party transaction on a standalone basis in the format specified in the Relevant accounting standard ....
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Awaiting price reaction for this filing.
Shalibhadra Finance has filed its half-yearly related party transaction disclosure with BSE as required under SEBI's Listing Regulation 23(9). The disclosure lists KMPs (Vatsal Doshi, Minesh Doshi, Ayushi Doshi, Dhruvil Doshi and others) and related entities including Financial Analysts & Investment Rating Ltd and Doshi family HUFs. The single largest transaction is a loan of Rs 924.73 Lakhs given to Financial Analysts & Investment Rating Ltd, which also paid the company Rs 65.04 Lakhs in interest and Rs 0.84 Lakhs in rent. KMPs and relatives received a combined Rs 10.29 Lakhs in remuneration, Rs 2.16 Lakhs in rent, and Rs 75 Lakhs was placed as rent deposits. Interest income of roughly Rs 22 Lakhs was earned from Doshi family members and HUFs on borrowings from them.
This is a routine compliance filing and unlikely to move the stock, but shareholders should note the sizeable Rs 924.73 Lakhs loan to a related group company (Financial Analysts & Investment Rating Ltd), which represents significant inter-group exposure worth tracking for terms and repayment.