Page 215 - Kolte Patil AR 2019-20

Notes forming part of the Consolidated Financial Statements

33. ENTITY CONSIDERED FOR CONSOLIDATION
Name of the entity Place of Business Extent of Holding as at
March 31, 2020 March 31, 2019
Kolte-Patil I-Ven Townships (Pune) Limited (Refer note i) India 95% 45%
Tuscan Real Estate Private Limited India 51% 51%
Bellflower Properties Private Limited (Refer note ii) India 100% 100%
Kolte-Patil Real Estate Private Limited (Refer note iii) India 100% 100%
Regenesis Facility Management Company Private Limited India 100% 100%

Snowflower Properties Private Limited India 100% 100%
Kolte-Patil Redevelopment Private Limited (formerly known as India 100% 100%
PNP Retail Private Limited)
PNP Agrotech Private Limited India 100% 100%
Sylvan Acres Realty Private Limited India 100% 100%
Ankit Enterprises India 75% 75%
Kolte-Patil Homes India 60% 60%
KP-Rachana Real Estate LLP India 50% 50%
Bouvardia Developers LLP India 100% 100%
Carnation Landmarks LLP (Refer note iv) India 99% 50%
KP-SK Project Management LLP India 55% 55%
Regenesis Project Management LLP India 75% 75%
Bluebell Township Facility Management LLP India 95% 45%
Anisha Lifespaces Private Limited India 100% 100%
Kolte-Patil Global Private Limited England 100% 100%
Jasmine Real Estate Private Limited (Refer note v) India 50% 0%

i. During the year ended March 31,2020, the Company has entered into Security Sales Agreement (SSA) dated May 28, 2019 (including
addendum to SSA dated March 28, 2020), with ICICI Ventures Funds Management Company Limited (Acting as Fund Managers of
India Advantage Fund III and IV) and Kolte-Patil I-Ven Townships (Pune) Limited [“KPIT”]. As per SSA, the Company has purchased 30
Lakhs equity shares held by India Advantage Fund III and 20 Lakhs Equity shares held by India Advantage Fund IV at a consideration of
` 8,967.52 Lakhs and ` 5,978.35 Lakhs respectively, aggregating ` 14,946 Lakhs. As a result, shareholding of the Company in KPIT has
increased from 45% to 95%. Further the Company has paid its first tranche amounting to ` 7,000 Lakhs in December 2019 and next
tranche is payable in August 2020 for the remaining amount.

ii. During the quarter ended March 31, 2020, the Company has completed the merger of Bellflower Properties Private Limited (wholly
owned subsidiary of the Company) under section 230 to section 232 of the Companies Act, 2013 with appointed date being April 1,
2017. The Company has accounted the merger as a common control transaction as required under Ind AS 103, ‘Business Combinations’
and given the effect from April 1, 2018 (earliest date presented). Accordingly, the comparative information has been restated with
the relevant carrying amounts of Bellflower Properties Private Limited as adjusted for inter-company eliminations and considered in
Company’s standalone financial statements.

iii. During the quarter ended June 30, 2018, Kolte-Patil Developers Limited announced that it would provide an exit to joint venturer who is
holding 49% equity stake in one of its subsidiary Kolte-Patil Real Estate Private Limited (“KPRE”) for a total consideration of ` 5,750 Lakhs
subject to mutually agreed terms and conditions. During the quarter ended December 31, 2018, order from National Company Law

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