Page 173 - Kolte Patil AR 2019-20
P. 173

Notes forming part of the standalone financial statements

            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

                                                                                                      (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

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