Related Parties

12 Months Ended

Mar. 31, 2021

Disclosure Of Related Party [Abstract]

38)	RELATED PARTIES

Related parties and nature of related party relationships:

Nature of relationship		Name of related parties
Key management personnel		Deep Kalra
Key management personnel		Rajesh Magow
Key management personnel		Mohit Kabra
Key management personnel		Aditya Tim Guleri
Key management personnel		James Jianzhang Liang#
Key management personnel		Paul Laurence Halpin#^ (from April 30, 2018)
Key management personnel		Jane Jie Sun# (from August 30, 2019)
Key management personnel		Cindy Xiaofan Wang# (from August 30, 2019)
Key management personnel		Xing Xiong# (from August 30, 2019)
Key management personnel		Xiangrong Li (from September 6, 2019)
Key management personnel		Vivek Narayan Gour (upto September 6, 2019)
Key management personnel		Patrick Luke Kolek* (upto August 30, 2019)
Key management personnel		Charles St Leger Searle* (upto August 30, 2019)
Key management personnel		Aileen O’Toole* (from January 24, 2019 to August 30, 2019)
Key management personnel		Oliver Minho Rippel*(upto January 24, 2019)
Key management personnel		Yuvraj (Raj) Thacoor* (upto April 30, 2018)
Entity providing key management personnel services		IQ EQ Corporate Services (Mauritius) Limited
Entities having significant influence over the Company and its subsidiaries		Naspers Limited and its subsidiaries (upto August 30, 2019)
Entities having significant influence over the Company and its subsidiaries		Trip.com Group Limited (formerly known as Ctrip.com International, Limited)and its subsidiaries (from August 30, 2019)
Equity-accounted investee		Inspirock, Inc.
Equity-accounted investee		Simplotel Technologies Private Limited
Equity-accounted investee		Saaranya Hospitality Technologies Private Limited
Equity-accounted investee		Pasajebus SpA (from May 7, 2019)
Equity-accounted investee and its subsidiaries		HolidayIQ Pte. Ltd and its subsidiaries (upto January 10, 2020)

Notes: #

nominees of Trip.com Group, Limited (Trip.com)

*nominees of MIH Internet SEA Pte. Ltd. (MIH) (subsidiary of Naspers Limited)

Paul Laurence Halpin, who was formerly a nominee of MIH, continues to serve on the board of directors of the Group as a nominee of Trip.com with effect from August 30, 2019.

(A)

Transactions with key management personnel:

Key management personnel compensation comprised**:

	For the year ended March 31
Particulars	2019		2020		2021
Short-term employee benefits		2,239		2,287		1,961
Contribution to defined contribution plan		68		184		21
Share based payment		21,984		19,804		16,767
Legal and professional		76		77		38
Total		24,367		22,352		18,787

Note: **

Provision for gratuity and compensated absences has not been considered, since the provisions are based on actuarial valuations for the Group’s entities as a whole.

	As at March 31
Balance Outstanding	2020		2021
Employee related payables		655		1,207
Accrued expenses		48		34

(B)

Transactions with entity providing key management personnel services:

	For the year ended March 31
Transactions	2019		2020		2021
Key management personnel services		2		4		5
Consultancy services		26		28		13

(C)

Transactions with entity having significant influence over the Company and its subsidiaries:

a) MIH Internet SEA Pte. Ltd.

Pursuant to the acquisition of Ibibo Group, the Company received an entitlement on future proceeds from sale of stake in an Indian entity, engaged in the business-to-business online travel industry, from MIH. In September 2018, the Company has realised USD 17,101 against this entitlement.

b)Naspers Limited and its subsidiaries

The Company collects payment from end customers through subsidiaries of Naspers Limited which are online payment service providers. In this arrangement, payment of Nil (March 31, 2020: USD 402,242 and March 31, 2019:USD 1,002,195) was collected by these entities on behalf of the Company and such amounts were remitted to the Company within a predefined time period. Further, service fee of Nil (March 31, 2020: USD 5,070 and March 31, 2019: USD 11,333) was charged by these entities for rendering these services to the Company, which is recognised under payment gateway charges (refer note 14).

The Company procured air tickets of Nil (March 31, 2020: Nil and March 31, 2019:USD 829) as an agent from one of the subsidiaries of Naspers Limited, which operates as a travel product aggregator. Further, the Company also sold hotel room nights and bus tickets as an agent of Nil (March 31, 2020: Nil and March 31, 2019:USD 516) to this entity and paid commission expense of Nil (March 31, 2020: Nil and March 31, 2019:USD 26).

Trip.com and its subsidiaries

	For the year ended March 31
Transactions	2019		2020		2021
Sale (refund) of air ticketing^		—		1,241		(14	)
Purchase (refund) of air ticketing^		—		21,610		(659	)
Sale of hotels and packages^		—		7,734		425
Purchase of hotels and packages^		—		6,451		647
Commission received		—		190		11
Commission paid		—		1,087		61
Other operating expenses		—		1,556		284

represents gross amount booked/charged for the air ticketing and hotels and packages transactions

	As at March 31
Balance Outstanding	2020		2021
Trade and other receivables		657		62
Trade payables		1,138		489
Prepaid expenses		97		—

(D)

Transactions with equity-accounted investees and its subsidiaries:

Simplotel Technologies Private Limited

In September 2018, 1,181 preference shares held in Simplotel were converted into 2,105 equity shares.

HolidayIQ Pte. Ltd and its subsidiaries

	For the year ended March 31
Transactions	2019		2020		2021
Revenue from air ticketing		38		6		—
Services received		—		11		—

During the year ended March 31, 2020, the Group has sold its entire stake in HolidayIQ Pte. Ltd for total consideration of USD 700.

PasajeBus SpA

In May 2019, the Group has acquired approximately 20.5% equity stake in PasajeBus Spa, by exercising its right which was acquired as a part of business combination.

	For the year ended March 31
Transactions	2019		2020		2021
Ancillary revenue		—		110		81

	As at March 31
Balance Outstanding	2020		2021
Trade receivables		32		22

Saaranya Hospitality Technologies Private Limited

	For the year ended March 31
Transactions	2019		2020		2021
Loan given		—		—		55
Interest income		—		—		3

	As at March 31
Balance Outstanding	2020		2021
Loan outstanding		—		55

(E)

Terms & conditions

All outstanding balances with these related parties are to be settled in cash. None of the balances is secured. No expense has been recognised in the current year or prior year for bad or doubtful debts in respect of amounts owed by related parties.