Page 173 - Kolte Patil AR 2019-20

Notes forming part of the standalone financial statements

NOTE 46 - SCHEME OF AMALGAMATION AND ARRANGEMENT OF BELLFLOWER PROPERTIES PRIVATE LIMITED:
During the year, the National Company Law Tribunal had approved the scheme of amalgamation (‘The Scheme’) between the Company and
Bellflower Properties Private Limited (“BPPL”), a wholly owned subsidiary of the company. The Scheme became effective on March 3, 2020
pursuant to completion of all regulatory formalities. In accordance with Appendix C of Ind AS 103 “Business combinations of entities under
common control”, the financial statements of the Company for the previous financial year 2017-18 have been restated with effect from April
1, 2017 (being the earliest period presented). Accordingly the carrying value of BPPL as appearing in the consolidated financial statements
has been considered effective April 1, 2017. Below are the details of the same:

(H in Lakhs)
Particulars As at April 1, 2017
Property, Plant and Equipment (Net) 5
Intangible Assets 2
Non Current Financial Assets 18
Deffered Tax Assets (Net) 7
Income Tax Assets (Net) 23
Inventories 621
Trade Receivables 1,022
Cash and cash equivalents 538
Loans 1,095
Other current assets 273
Liabilities & Provisions ( 550)

Total Net Assets - (A) 3,054
Investment in BPPL appearing in the Standalone Financial statements of the Company - (B) 1,303
Retained Earnings - (C) 1,598
Capital Reserve - (D) = (A - B - C) 153

The Company has recognized H153 Lakhs as capital reserve and increased retained earnings by H1,598 Lakhs as at April 1, 2017. The net loss for
the year ended March 31, 2018 of H18 Lakhs has also been debited to the retained earnings as at April 1, 2018. The impact on the standalone
statement of profit and loss of the Scheme is not material in the current and previous year.

NOTE 47:
(a) Right of use Assets

Amount
Particulars
(H In Lakhs)
Balance as at April 1,2019 (Refer Note 2G) 2,190
Add: Additions during the year -
Less: Deletions during the year -
Less: Depreciation and amortisation expense 527
Closing Balance As at March 31,2020 1,663

Annual Report 2019-20 | 171