The Company does not have any material non listed Indian subsidiary Company, whose turnover or net worth (paid up capital and free reserves) exceeds 20% of the consolidated turnover or net worth of the Company.

The Audit Committee and the Board of Directors review the consolidated financial statements of the Company and its subsidiary companies on a regular basis.

The Audit Committee and the Board of Directors look into the related party transactions entered into by the Company including those with the subsidiary companies.

Details of percentage holding of the Company in the subsidiary companies:

SR. No. Name of the Subsidiary Company Registered in Holding percentage
1. Persistent Systems Inc. USA 100%
2. Persistent Systems Pte. Ltd. Singapore 100%
3. Persistent Systems France S.A.S. France 100%
4. Persistent Systems Malaysia Sdn. Bhd. Malaysia 100%
5. Persistent Systems Germany GmbH Germany 100%
6. Persistent Telecom Solutions Inc.* USA 100%
7. Akshat Corporation (dba R-Gen Solutions)* USA 100%
8. Aepona Holdings Limited* Ireland 100%
9. Aepona Group Limited** Ireland 100%
10. Valista Limited** Ireland 100%
11. Aepona Limited** UK 100%
12. Persistent Systems Lanka (Private) Limited** Sri Lanka 100%
13. Persistent Systems Israel Limited* Israel 100%
14. Persistent Systems Mexico S.A. de C.V.* Mexico 100%

(*) Subsidiary of Persistent Systems, Inc. and Step-down subsidiary of Persistent Systems Limited, India.

(**) Subsidiary of Aepona Holdings Limited and Step-down subsidiary of Persistent Systems Limited, India.

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