Mandatory Accounting Standards - Ind AS – Extracts from Published Accounts-2

|570| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts up share capital of BCL (including 0.01% non-cumulative redeemable preference shares of ` 100/- each) stands cancelled fully, without requiring any further act or deed. Subsequent to the reconstitution of the Board of Directors, taking over management control and subscribing to the equity and preference share capital, BCL has become a wholly owned subsidiary of the UTCL (100% Voting interest) and has since been renamed UltraTech Nathdwara Cement Limited (“UNCL”), with effect from December 13, 2018. The Consolidated financial statements include the financial results for UNCL w.e.f. November 20, 2018 and hence the figures for the year ended 31st March 2019 are not comparable with the previous corresponding period. UNCL has a capacity of 6.25 MTPA in the State of Rajasthan comprising an integrated cement unit with capacity of 4.85 MTPA and a split grinding unit with capacity of 1.4 MTPA. In addition, UNCL has investments in subsidiaries in China and UAE. This acquisition will create value for shareholders as the acquisition adds 1/3rd additional ready to use capacity in the highly growing North market where the Company was already at high capacity utilisation levels so as to cater to the growing market. This acquisition also provides abundant additional limestone reserves sufficient to cater to even additional capacities at lower prices compared to auctioned prices and creates synergies in logistics and procurement which offers many advantages to the Company. (b) Consequent to the acquisition, the UTCL subscribed to equity share capital of ` 1,500 Crore and 8.75% preference share capital of ` 1,900 Crore of UNCL and provided an Inter corporate loan of ` 1,799.75 Crore to UNCL. Further, UNCL obtained a loan (non-current borrowing) of ` 2,700.00 Crore (pursuant to a corporate guarantee provided by the Holding Company). Subsequently, the group paid to financial and operational creditors as per the RP. (c) Acquired Receivables: As on the date of acquisition, gross contractual amount of the acquired Trade Receivables and Other Financial Assets was ` 1,159.71 Crore against which no provision had been considered since fair value of the acquired Receivables were equal to carrying value as on the date of acquisition. (d) The Fair Value of Assets and Liabilities assumed as on the acquisition date: (` in Crore) Particulars Amount Property, Plant and Equipment 2,833.78 Capital Work-In-Progress 9.05 Intangible assets 1,712.50 Non-Current Loans 1,058.85 Non-Current Financial Asset 0.48 Other Non-Current Assets 5.88 Inventories 75.91 Trade and Other receivables 8.77 Cash & Cash Equivalents 38.52 Bank Balances other than above 20.54 Current Loans 57.92 Other Current Financial Assets 1.05 Other Current Assets 30.31 Assets of disposal group held for Sale 1,037.20 Total Assets (A) 6,890.76 Other Non-Current Financial Liabilities 36.84 Non-Current Provision 10.06 Deferred Tax Liabilities 1.16

|571| Chap. 23 – Ind AS 103 – Business Combinations (` in Crore) Particulars Amount Current Borrowings 35.13 Trade Payables 510.68 Other Current Financial Liabilities (including current maturities of non-current borrowings) 7,321.14 Other Current Liabilities 242.44 Current Provisions 2.00 Liabilities included in disposal group held-for-sale 489.00 Total Liabilities (B) 8,648.45 Goodwill recognised (B-A) 1,757.69 As per Ind AS 103, purchase consideration has been allocated on the basis of fair valuation determined by an independent Valuer. Goodwill represents growth potential through brown field expansion at a lower cost compared to a green- field plant cost by developing and utilising acquired land and limestone reserves. (e) Acquisition related costs: Acquisition related costs of ` 24.32 Crore on legal fees, due diligence costs, valuation fees, etc. have been recognized under Miscellaneous Expenses and Rates and Taxes in the Statement of Profit and Loss. (f) (i) The Revenue and Profit/(Loss) after Tax of UNCL for the period ended 31st March 2019 from the acquisition date are ` 485.44 Crore and ` (59.63) Crore respectively which has been included in the consolidated financial statements of the Company. (ii) If the acquisition had occurred on 1st April 2018, revenue and profit for the year ended 31st March 2019 would have been ` 1,342.32 Crore and ` (164.89) Crore, respectively. Management has determined these amounts on the basis that the fair value adjustments that arose on the date of acquisition would have been the same if the acquisition had occurred on 1st April 2018. E) Acquisition of Cement Business of Century Textiles and Industries Limited: During the year the UTCL’s Board of Directors approved a Scheme of Arrangement amongst CenturyTextiles and Industries Limited (“Century”), the Company and their respective shareholders and creditors (“the Scheme”). In terms of the Scheme, Century will demerge its cement business into the Company. Century’s cement business consists of 3 integrated cement units in Madhya Pradesh, Chhattisgarh and Maharashtra with a total capacity of 12.6 MTPA and a grinding unit in West Bengal of 2.0 MTPA. Upon effectiveness of the Scheme, equity shares of the UTCL shall be issued to shareholders of Century, as on the Record Date, as defined in the Scheme, in the ratio of 1 (one) equity share of the UTCL of face value ` 10/- each for every 8 (eight) equity shares of Century. The Scheme has received approval of the stock exchanges, the Competition Commission of India and the shareholders of the UTCL and is now awaiting the approval of the National Company Law Tribunal and other regulatory authorities, as may be required. F) Acquisition of Controlling stake in Aditya Birla Renewables Limited (ABREL) and Aditya Birla Solar Limited (ABSL) w.e.f. 15th May 2018 (Ind AS 103) During the year, ABREL and ABSL has become subsidiary of the Company w.e.f. 15th May 2018 pursuant to the acquisition of controlling stake in the said companies for a cash consideration of ` 34.37 Crore. ABREL and ABSL were joint ventures between the Company and AEIF Mauritius SPV 2 Limited until 14th May 2018. Accordingly, the Company has undertaken fair valuation of assets and liabilities of ABREL and ABSL on the acquisition date as per Ind AS 103 - business combination for its consolidation in the Company books as disclosed below. For the period ended 31st March 2019, the said business has contributed revenue of ` 69.11 Crore and profit before tax of ` 11.56 Crore to the Group results. If the said arrangement had occurred on 1st April 2018, the

|572| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts consolidated revenue and profit before tax for the year ended would have been, ` 75.50 Crore and ` 16.20 Crore, respectively based on the amounts extrapolated by the management. In determining these amounts, the management has assumed that the fair value adjustments, that arose on the date of arrangement have been the same as if the arrangement occurred on 1st April 2018. Identifiable Assets acquired and liabilities assumed The following table summarises the recognised amounts of assets acquired and liabilities assumed at the date of acquistion. (` in Crore) Particulars As on 14th May 2018 Property Plant and Equipment and other Intangible Assets 474.15 Capital Work in Progress 10.67 Other Non-Current Assets (Financial and Non-Financial) 8.75 Other Current Assets (Financial and Non-Financial) 2.22 Trade Receivables 23.99 Cash and Cash Equivalents 7.31 Deferred Tax Assets 2.90 Total Assets (A) 529.99 Non-Current Borrowings 346.58 Current Borrowings 8.80 Deferred Tax Liability 1.35 Other Liabilities and Provisions 52.30 Total Liabilities (B) 409.03 Total Identifiable Net Assets acquired (A-B) 120.96 Less: Investment in ABREL and ABSL (including additional Stake acquired for ` 34.37 Crore) 96.16 Less: Non-Controlling Interest 0.77 Capital Reserve 24.03 The gross contractual amounts and fair value of Trade Receivables acquired is ` 24.07 Crore. None of the Trade Receivables is credit impaired and it is expected that the full contractual amounts will be recoverable. G) Acquisition of Grasim Premium Fabrics Private Limited (GPFPL) {earlier known as Soktas (India) Private Limited} w.e.f. 29th March 2019 (Ind AS 103) During the year, the Company has acquired 100% equity shareholding of GPFPL from its current promoters SOKTASTekstil Sanayi VeTicaret A.S.,Turkey for cash consideration of ` 135.40 Crore. Consequent to acquisition, SIPL has become a wholly owned Subsidiary of the Company, w.e.f. 29th March’19. SIPL is in the business of manufacturing and distribution of premium cotton fabrics with its manufacturing capacity located at Kolhapur, Maharashtra having capacity of about 10 Million meters per annum of finished fabrics. Identifiable Assets acquired and liabilities assumed The following table summarises the recognised amounts of assets acquired and liabilities assumed at the date of acquistion. (` in Crore) Particulars As on 29th March 2019 Property Plant and Equipment and Other Intangible Assets (including CWIP of ` 0.09 Crore) 86.38 Inventories 28.51 Trade Receivables 25.41

|573| Chap. 23 – Ind AS 103 – Business Combinations (` in Crore) Particulars As on 29th March 2019 Cash and Cash Equivalents 0.04 Other Non-Current Assets (Financial and Non-Financial) 8.18 Other Current Assets (Financial and Non-Financial) 7.57 Total Assets (A) 156.09 Non-Current Borrowings 13.98 Current Borrowings 23.18 Trade Payables 34.33 Other Liabilities and Provisions 10.75 Total Liabilities (B) 82.24 Total Identifiable Net Assets acquired (A-B) 73.85 Less: Purchase consideration 135.40 Goodwill 61.55 The gross contractual amounts and fair value of Trade and other Receivables acquired is ` 28.31 Crore. None of the Trade and other Receivables is credit impaired and it is expected that the full contractual amounts will be recoverable. The Company has allocated the purchase consideration on a provisional basis, pending final determination of fair value of the acquired assets and liabilities. Further, the Company has not consolidated profit and loss of GPFPL for the period 29th March 19 to 31st March 19 being immaterial for Company’s consolidation. H) Acquisition of Asset from KPR Industries India Limited The Company has acquired the Chlor Alkali business of KPR Industries India Limited by way of slump sale, for a cash consideration of ` 253 Crore. The business consist of an under-construction ChlorAlkali plant of 200 TPD capacity at Balabhadrapuram, Andhra Pradesh. The Company has taken over the identified assets and identified liabilities associated with the business. The following table summarises the apportionment of amounts of assets and identified liabilities acquired based on fair valuation on the date of acquisition. (` in Crore) Particulars As on 19th February 2019 Property Plant and Equipment Freehold Land 48.83 Plant and Equipment 0.12 Furniture and Fixtures 0.06 Capital Work-in-Progress 201.61 Other Current Assets (Financial and Non-Financial) 35.51 Less: Trade Payable 0.33 Other Non-Current Liabilities (Financial and Non-Financial) 0.18 Other Current Liabilities (Financial and Non-Financial) 32.62 Total Purchase Consideration 253.00 10. HINDUSTAN UNILEVER LIMITED Business Combination Business combinations are accounted for using the acquisition accounting method as at the date of the acquisition, which is the date at which control is transferred to the Group. The consideration transferred

|574| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts in the acquisition and the identifiable assets acquired and liabilities assumed are recognised at fair values on their acquisition date. Goodwill is initially measured at cost, being the excess of the aggregate of the consideration transferred and the amount recognised for non-controlling interests, and any previous interest held, over the net identifiable assets acquired and liabilities assumed. The Group recognises any noncontrolling interest in the acquired entity on an acquisition-by-acquisition basis either at fair value or at the non-controlling interest’s proportionate share of the acquired entity’s net identifiable assets. Consideration transferred does not include amounts related to settlement of pre-existing relationships. Such amounts are recognised in the Statement of Profit and Loss. Transaction costs are expensed as incurred, other than those incurred in relation to the issue of debt or equity securities. Any contingent consideration payable is measured at fair value at the acquisition date. Subsequent changes in the fair value of contingent consideration are recognised in the Statement of Profit and Loss. In accordance with Ind AS 101 provisions related to first time adoption, the Group has elected to apply Ind AS accounting for business combinations prospectively from 1st April 2015. As such, Previous GAAP balances relating to business combinations entered into before that date, including goodwill, have been carried forward as at the date of transition to Ind AS. Disclosure NOTE 42 : BUSINESS COMBINATION Refer note 2.4(r) for accounting policy on Business Combination. Acquisition of Indulekha Brand On April 07, 2016, the Company completed the acquisition of the flagship brand ‘Indulekha’ from Mosons Extractions Private Limited (‘MEPL’) and Mosons Enterprises (collectively referred to as ‘Mosons’ and acquisition of the specified intangible assets referred to as the ‘Business acquisition’). The deal envisaged the acquisition of the trademarks ‘Indulekha’ and ‘Vayodha’, intellectual property, design and knowhow for a total cash consideration of ` 330 crores and a deferred consideration of 10% of the domestic turnover of the brands each year, payable annually for a 5 year period commencing financial year 2018-19. Basis the projection of the domestic turnover of the brand, the contingent consideration is subject to revision on a yearly basis. As at 31st March 2018, the fair value of the contingent consideration was ` 104 crores which was classified as other financial liability. Deferred contingent consideration Based on actual performance in financial year 2018-19 and current view of future projections for the brand, the Company has reviewed and fair valued the deferred contingent consideration so payable. As at 31st March 2019, the fair value of the contingent consideration is ` 157 crores which is classified as other financial liability. The determination of the fair value as at Balance Sheet date is based on discounted cash flow method. The key inputs used in determining the fair value of deferred contingent consideration were domestic turnover projections of the brand and weighted average cost of capital. Acquistion of Adityaa Milk Brand On September 26, 2018, the Company completed the acquisition of the brand ‘ Adityaa Milk’ and its frontend distribution network from Vijaykant Dairy and Food Products Limited [VDFPL]. The deal comprised the acquisiton of the brand ‘ Adityaa Milk’, customer relationship, technical know-how, Property, Plant and Equipment, working capital and other intangible assets for a total consideration of ` 65 crores and a deferred consideration of ` 18 crores. The transaction is accounted as business combination under Ind AS 103. The acquisition is in line with the Company’s strategic intent to strengthen its leadership position in the rapidly growing Ice Cream and Frozen Dessert market in India. ‘Adityaa Milk’ brings to the Company, a premium brand with strong credentials around dairy and dairy-based product that will complement its existing portfolio.

|575| Chap. 23 – Ind AS 103 – Business Combinations Purchase consideration transferred: Amount Upfront cash consideration 65 Deferred contingent consideration 18 83 Deferred contingent consideration The Contingent consideration is payable after 3 year from acquisition date and accrodignly recognised at fair value of ` 18 crores. Determination of the fair value as at balance sheet date is based on discounted cash flow method. Contingent consideration is arrived basis weighted average probability approach of achieving various financial and non financial performance targets Assets acquired and liabilities assumed The fair values of identifiable assets acquired and liabilities assumed as at the date of acquisition were: Amount Property, Plant and Equipment 1 Specified Intangibles Assets Adityaa Milk Brand 14 Technical know how 6 Others (including Customer Relationships) 26 Total identifiable assets 47 Add: Net Working Capital (0) Total identifiable net assets 47 Goodwill 36 Total Net Assets 83 Acquisition-related costs In addition to cash consideration mentioned above, acquisition- related costs of ` 0 crore paid towards transfer of assets are included in ‘Exceptional items’ in the Statement of Profit and Loss. Impact of acquisition on the results The acquired business contributed revenue of ` 31 crores and loss (before tax) of ` 12 crores for the year ended 31st March, 2019 including one time integration costs. 11. KAJARIA CERAMICS LIMITED Disclosures 50 Scheme of Arrangement The Hon’ble National Company Law Tribunal, vide its order dated 22 February 2018, approved a Scheme of Arrangement (the ‘Scheme’) between the Holding Company and Kajaria Securities Private Limited (‘KSPL’). Pursuant to the Scheme, all the properties, assets, rights, claims and obligations of the erstwhile KSPL had been transferred and vested in the Holding Company on a going concern basis. Pursuant to the Scheme, existing equity shares of the Holding Company held by KSPL stood cancelled and the Holding Company had issued 64,669,867 equity shares of ` 1 each to shareholders of erstwhile KSPL in proportion of their shareholding in KSPL and authorised share capital of KSPL has been transferred to the authorised share capital of the Holding Company. Accordingly, authorised share capital of the Holding Company had been increased. Since there was no specific guidance for accounting of such arrangements under Indian Accounting Standards, accounting had been done as per the accounting treatment stated in the Scheme. Accordingly, the difference between the net assets acquired and reserves of KSPL that vested with the Holding Company had been debited to capital reserves. The Holding Company had acquired net assets amounting to ` 0.29 crore and reserves amounting to ` 66.49 crore and ` 66.20 crore had been debited to capital reserves.

|576| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts 12. KANSAI NEROLAC PAINTS LIMITED (i) Business combinations and intangible assets Business combinations are accounted for using Ind AS 103, Business Combinations. Ind AS 103 requires the identifiable intangible assets and contingent consideration to be fair valued in order to ascertain the net fair value of identifiable assets, liabilities and contingent liabilities of the acquiree. Significant estimates are required to be made in determining the value of contingent consideration and intangible assets. These valuations are conducted by independent valuation experts. (20) Business Combinations Business combinations (other than common control business combinations) In accordance with Ind AS 103, the Group accounts for these business combinations using the acquisition method when control is transferred to the Group. The consideration transferred for the business combination is generally measured at fair value as at the date the control is acquired (acquisition date), as are the net identifiable assets acquired. Any goodwill that arises is tested annually for impairment. Any gain on a bargain purchase is recognised in OCI and accumulated in equity as capital reserve if there exists clear evidence of the underlying reasons for classifying the business combination as resulting in a bargain purchase; otherwise the gain is recognised directly in equity as capital reserve. Transaction costs are expensed as incurred, except to the extent related to the issue of debt or equity securities. The consideration transferred does not include amounts related to the settlement of pre-existing relationships with the acquiree. Such amounts are generally recognised in profit or loss. Any contingent consideration is measured at fair value at the date of acquisition. If an obligation to pay contingent consideration that meets the definition of a financial instrument is classified as equity, then it is not remeasured subsequently and settlement is accounted for within equity. Other contingent consideration is remeasured at fair value at each reporting date and changes in the fair value of the contingent consideration are recognised in the Consolidated Statement of Profit and Loss.The valuation team regularly reviews significant unobservable inputs and valuation adjustments. If third party information, such as broker quotes or pricing services, is used to measure fair values, then the valuation team assesses the evidence obtained from the third parties to support the conclusion that these valuations meet the requirements of Ind AS, including the level in the fair value hierarchy in which the valuations should be classified. If a business combination is achieved in stages, any previously held equity interest in the acquiree is remeasured at its acquisition date fair value and any resulting gain or loss is recognised in the Consolidated Statement of Profit and Loss or OCI, as appropriate. Common control transactions Business combinations involving entities that are controlled by the Group are accounted for using the pooling of interests method as follows: The assets and liabilities of the combining entities are reflected at their carrying amounts. No adjustments are made to reflect fair values, or recognise any new assets and liabilities. Adjustments are only made to harmonise accounting policies. The financial information in the Consolidated Financial Statements in respect of prior periods is restated as if the business combination had occurred from the beginning of the preceding period in the Consolidated Financial Statements, irrespective of the actual date of the combination. However, where the business combination had occurred after that date, the prior period information is restated only from that date. The balance of the retained earnings appearing in the Consolidated Financial Statements of the transferor is aggregated with the corresponding balance appearing in the Consolidated Financial Statements of the transferee or is adjusted against general reserve. The identity of the reserves are preserved and the reserves of the transferor become reserves of the transferee.

|577| Chap. 23 – Ind AS 103 – Business Combinations The difference, if any, between the amounts recorded as share capital issued plus any additional consideration in the form of cash or other assets and the amount of share capital of the transferor is transferred to capital reserve and is presented separately from other capital reserves Note 43: Business Combinations (a) Acquisition of Marpol Private Limited On 7th April 2018, the Group acquired 100% ownership interest in a subsidiary registered in India. Acquisition of the subsidiary is accounted for using the acquisition method of accounting. Management of the Group has obtained fair valuation of all the assets and liabilities acquired and identification of intangible on the date of acquisition. Based on the valuation obtained, management has allocated the consideration to the assets acquired and liabilities assumes and intangible assets identified. Remaining amount is transferred to goodwill. Consideration transferred The following table summarises the acquisition date fair value of major class of consideration transferred: Particulars ` in Crores Cash 34.32 Total consideration 34.32 There are no contingent consideration pending to be payable. Acquisition-related costs The Group incurred acquisition related cost ` 0.24 Crores. These costs have been included in legal and professional fees under other expenses. identifiable assets acquired and liabilities assumed and Goodwill The following table summarises the acquisition date fair value of assets acquired, fair value of the consideration transferred: Description ` in Crores Property, Plant and Equipment 29.54 Other Intangible Asset 0.10 Marpol Brand and Technical Knowhow. 7.88 Non-compete 2.50 Investments 0.05 Inventories 9.21 Trade receivables 12.08 Cash and cash equivalents 4.45 Loans 0.19 Other Non-Current/Current Assets 1.22 Long-term Borrowings (0.10) Deferred Tax Liability (8.70) Short-term Borrowings (14.86) Trade payables (8.37) Other financial liabilities (0.31) Other Current Liabilities (0.46) Provisions (0.10) total identifiable net assets acquired 34.32 Purchase Consideration 34.32 Goodwill —

|578| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts The gross contractual amounts and the fair value of trade receivables acquired is ` 12.08 Crores. None of the trade receivables are credit impaired and it is expected that the full contractual amounts will be recoverable. Measurement of fair values Assets acquired Valuation technique Property, plant and Equipment Market comparison method technique and cost technique Customer Relationship Multi period excess earnings method(MPEEM): The medthod takes residual approach to estimating the income that an intangible is expected to generate. It starts with the total expected income streams for a business or group of assets as a whole and deducts charges for all other assets used to generate income with intangible asset under review during its economic life, Non-Compete With or Without Mathod under the Income Approach: This method computes the value income differential an asset will generate relative to its absence. Inventories Market Comparison Method : The fair value is determined based on the estimated selling price in the ordinary course of business less the estimated cost of completion and sale, and a reasonable profit margin based on the effort required to complete and sell the inventories. 13. KPIT TECHNOLOGIES AND BIRLASOFT MERGER Disclosures Composite Scheme of arrangement The Board of Directors of the Company at its meeting held on 29 January 2018 had approved a Composite Scheme (“the Composite Scheme”) and subsequently filed with National Company Law Tribunal (NCLT) for: (a) amalgamation of Birlasoft (India) Limited (“Transferor Company”) with Birlasoft Limited (erstwhile KPIT Technologies Limited) (“Transferee Company” or “Demerged Company”); and (b) demerger of the engineering business of Birlasoft Limited (erstwhile KPIT Technologies Limited) into KPIT Technologies Limited (erstwhile KPIT Engineering Limited) (“Resulting Company”). The Composite Scheme approved by the National Company Law Tribunal, Mumbai Bench on 29 November 2018 and certified copy of the order was received on 18 December 2018, was recorded by the Board of Directors in their meeting held on 15 January 2019 whereby the Transferor Company was merged into the Transferee Company and Engineering Business (Primarily comprising Automotive vertical with embedded software, digital technologies (cloud, IoT, analytics), Mobility Solutions and application life cycle management Business) was demerged from the Transferee Company and transferred to the Resulting Company, with effect from 01 January 2019, the appointed date. The Company has presented the Engineering Business (“Demerged Undertaking”) as discontinued operations during the year ended on 31 March 2019 in accordance with Ind AS 105 and accordingly reclassified the financial results of the previous year presented. In accordance with the composite scheme approved by the National Company Law Tribunal (NCLT) on 29 November 2018, the name of the Company has been changed from KPIT Technologies Limited to Birlasoft Limited, vide the “Certificate of Incorporation pursuant to change of name”, issued by the Registrar of Companies (ROC) dated 08 February 2019. Shareholders of the Transferor Company have received 22 equity shares of the Transferee Company for every 9 equity shares they held in the Transferor Company. After the demerger of Transferee Company’s engineering business, shareholders of the Demerged Company received 1 equity share of the Resulting Company for every 1 equity share they hold in the Demerged Company. After the demerger, the Demerged Company has the combined business of KPIT IT Services Business and the current buisness of Birlasoft (India) Limited creating a new leader in the mid-tier IT services space. Whereas the Resulting Company has the current Engineering business of the Demerged Company to create a company focused on Automotive Engineering and Mobility Solutions.

|579| Chap. 23 – Ind AS 103 – Business Combinations As per the Composite Scheme, all assets and liabilities of Birlasoft (India) Limited (“”Transferor Company””) stand transferred to the Transferee Company from the appointed date. The employees of the Transferor Company have also moved to the Transferee Company and consequently the employee related benefits and all contracts and agreements in relation to them have been taken over by the Transferee Company. The Composite Scheme has accordingly been given effect to in the financial statements as on the appointed date. As per the Composite Scheme, all assets and liabilities of the Engineering Business (“Demerged Undertaking”) stand transferred to the Resulting Company from the appointed date. The employees of the Engineering Business have also moved to the Resulting Company and consequently the employee related benefits and all contracts and agreements in relation to them have been taken over by the Resulting Company. The Composite Scheme has accordingly been given effect to in the financial statements as on the appointed date. Accordingly, the previous year balances are not comparable. Pursuant to the approved Composite Scheme, the Transferee Company shall account for merger and demerger in its books as per the applicable accounting principles prescribed under relevant Indian Accounting Standards (Ind AS). It would inter alia include the following: Transaction I- Merger Accounting for Merger: 1. Assets, Liabilities and Reserves of the Transferor Company transferred to and vested in the Transferee Company shall be recorded at their carrying values as appearing in books of the Transferor Company at the time of the merger effective date and in accordance with requirements of relevant Ind AS. 2. The Transferee Company shall credit its share capital account in its books of account with the new equity shares issued pursuant to Scheme to the shareholders of the Transferor Company. a) Subsequent to the merger, the pre-merger shares of the Transferor Company shall be cancelled. b) The inter-company balances between Transferee Company and Transferor Company, if any, in the books of accounts of Transferee Company and Transferor Company shall stand cancelled. c) The difference, if any, between assets, liabilities and reserves transferred and the value of the new equity shares issued on merger by the Transferee Company shall be transferred to capital reserves of Transferee Company. d) The Company is in the process of transferring the title of the assets and liabilities received under the scheme of merger from Transferor Company as on the reporting date. a. Consideration transferred (at the acquisition date book values) Particulars Amount Cash - Equity shares (76,645,066 shares of Birlasoft Limited (Erstwhile KPIT Technologies Limited)) 153.29 Total 153.29 b. Acquisition related cost Acquisition related cost of H282.65 million is recognized under other expenses in the Statement of Profit and Loss for the year ended 31 March 2019. c. The book value of assets acquired and liabilities taken over from Transferor Company as at date of merger were: Particulars Amount ASSETS Non-Current Assets Property, plant and equipment (net) 666.70 Other intangible assets (net) 7.47

|580| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Particulars Amount Financial Assets Investment in subsidiary-Birlasoft Inc , USA 25.90 Other financial assets 34.04 Deferred tax assets (net) 293.38 Other non current assets 247.59 Current Assets Financial Assets Investments 2,385.51 Trade receivables 736.07 Cash and Cash equivalents 238.98 Other balances with banks 20.00 Other financial assets 132.27 Other current assets 222.74 3,735.57 Total Assets 5,010.65 Particulars Amount EQUITY AND LIABILITIES Equity Other Equity 3,449.08 Total Equity 3,449.08 Liabilities Non-Current Liabilities Other non current liabilities 133.14 Provisions 3.33 136.47 Current liabilities Financial Liabilities Trade payables 547.16 Other financial liabilities 222.70 Provision for employee benefits 62.87 Current tax liabilities 87.11 Other current liabilities 191.71 1,111.55 Total Equity and Liabilities 4,697.10 Total net identifiable assets at book value 313.55 d. Capital Reserve arising on merger The difference between the amount recorded as share capital issued and the amount of share capital of the transferor has been transferred to capital reserve. e. Transferor Company’s contribution to Revenue and Profit before tax From the date of merger, the Transferor Company has contributed ` 1,152.94 million to revenue and ` 82.66 million to the profit before tax from continuing operations of the Company for the period ended 31 March 2019. If the combination had taken place at 1 April 2018, the contribution to Company’s revenue for the year ended 31 March 2019 would have been ` 4,803.17 million and the profit before tax would have been ` 278.84 million.

|581| Chap. 23 – Ind AS 103 – Business Combinations Transaction II- Demerger Pursuant to the approved Composite Scheme, Birlasoft Limited (Erstwhile KPIT Technologies Limited) accounted for demerger of Demerged Undertaking in its books as per the applicable accounting principles prescribed under relevant Indian Accounting Standards (Ind AS). It would inter alia include the following: Accounting for Demerger as per court approved scheme: 1. The carrying values of assets and liabilities of demerged undertaking transferred to Resulting Company shall be adjusted with capital reserves, if any, then to general reserve account and then to retained earnings of the Demerged Company. 2. The carrying value of the investment in equity shares of the Resulting Company to the extent held by Demerged Company shall stand cancelled. 3. The Company is in the process of transferring the title of the assets and liabilities transferred under the scheme of demerger as on the reporting date. a) Value of assets and liabilities transferred to the Resulting Company Particulars Amount ASSETS Non-Current Assets Property, plant and equipment 2,441.25 Capital work in progress 7.61 Other intangible assets 667.40 Other Intangible assets under development 18.63 Financial assets Investments 2,454.59 Loans 191.85 Other non current assets 25.76 5,807.09 Current Assets Inventories 13.85 Financial assets Trade receivables 2,056.03 Loans 243.58 Unbilled Revenue 451.86 Other financial assets 2,181.81 Other current assets 308.04 Other assets 5,255.17 Total Assets 11,062.26 EQUITY AND LIABILITIES Equity Other Equity General Reserve 34.38 Remeasurement of defined benefit plan (44.16) Effective portion of cash flow hedge 9.75 Retained earnings 3,573.12 Total Equity 3,573.09 Liabilities Non Current Liabilities Financial liabilities Borrowings 548.92

|582| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Particulars Amount Provisions 201.88 Deferred tax liabilities (Net) 30.48 781.28 Particulars Amount Current Liabilities Financial liabilities 435.10 Trade Payables 951.94 Other financial liabilities 350.87 Other Current Liabilities 49.85 Provisions 1,787.76 6,142.13 Total Equity and Liabilities 4,920.13 Net asset to be transferred to the Resulting Company 1.00 Cancellation of existing investment in the Resulting Company Utilization of reserves for transfer of Net Assets pursuant to the above scheme of arrangement Capital reserve 179.66 General reserve 1,719.62 Retained earnings (excludes accumulated deficit of H288.39 million of EWT transferred to the Resulting Company) 3,021.85 4,921.13 b. Results of discontinued operations Particulars 31 March 2019 31 March 2018 Revenue from operations 6,164.12 6,333.03 Other income 92.11 133.14 Total income 6,256.23 6,466.17 Expenses Cost of materials consumed 22.96 59.07 Changes in inventories of finished goods and work-in-progress 0.45 1.04 Employee benefits expense 3,511.57 3,909.53 Finance costs 68.36 12.64 Depreciation and amortization expense 488.21 377.67 Excise duty - 0.63 Other expenses 1,430.70 1,336.32 Total expenses 5,522.25 5,696.90 Profit before exceptional items and tax 733.98 769.27 Exceptional items (Refer Note (i) ) - 25.55 Profit before tax 733.98 794.82 Tax expense Current tax 98.57 236.06 Deferred tax (benefit)/charge 18.08 (315.00) Total tax expense 116.65 (78.94) Profit after tax 617.33 873.76 Note: e) During the previous year, the Company has sold of its entire stake in Sankalp Semiconductors Private Limited. The gain on disposal is recorded under exceptional items in the Statement of Profit and Loss. f) The Engineering business have been discontinued from 01 January 2019.

|583| Chap. 23 – Ind AS 103 – Business Combinations c. Net cash outflows from discontinued operations for the year ended 31 March 2019 amount to ` 79.38 million. Due to non-availability of relevant information relating to discontinued operations, the cash flows for the current year have been disclosed on net basis and cash flows for the comparative period have not been disclosed. Auditor’s Report The key audit matter How the matter was addressed in our audit Accounting for the effects of the composite scheme of rrangement in respect of merger and subsequent demerger: The Holding Company has entered into a scheme of arrangement (“the scheme”) for merger of Birlasoft (India) Limited with Birlasoft Limited (BSL) (erstwhile KPIT Technologies Limited) and subsequent demerger of BSL into BSL and KPIT Technologies Limited (Erstwhile KPIT Engineering Limited). The scheme has been approved by the National Company Law Tribunal, Mumbai Bench (‘NCLT). This is a key audit matter as the scheme has a pervasive impact on the financial statements of the Group. The Holding Company has accounted for merger and demerger in its books as per the Composite Scheme of arrangement as approved by the NCLT. Our audit procedures in this area included the following: • Inspected agreements related to the merger and demerger in accordance with the scheme. • Agreed the balances acquired on merger to the audited consolidated financial statements of Birlasoft (India) Limited as on 31 December 2018. • Tested the accounting entries for the merger are in accordance with the scheme approved by NCLT. • Tested the accounting entries for the demerger are in accordance with the scheme approved by NCLT. 14. LARSEN & TOUBRO LIMITED The Group accounts for its business combinations under acquisition method of accounting. Acquisition related costs are recognised in the statement of profit and loss as incurred. the acquiree’s identifiable assets, liabilities and contingent liabilities that meet the condition for recognition are recognised at their fair values at the acquisition date. Goodwill on consolidation as on the date of transition i.e. april 1, 2015 represents the excess of cost of acquisition at each point of time of making the investment in the subsidiary over the Group’s share in the net worth of a subsidiary. For this purpose, the Group’s share of net worth is determined on the basis of the latest financial statements, prior to the acquisition, after making necessary adjustments for material events between the date of such financial statements and the date of respective acquisition. Capital reserve on consolidation represents excess of the Group’s share in the net worth of a subsidiary over the cost of acquisition at each point of time of making the investment in the subsidiary. Goodwill on consolidation arising on acquisitions on or after the date of transition represents the excess of (a) consideration paid for acquiring control and (b) acquisition date fair value of previously held ownership interest, if any, in a subsidiary over the Group’s share in the fair value of the net assets (including identifiable intangibles) of the subsidiary as on the date of acquisition of control. Goodwill on consolidation is allocated to cash generating units or group of cash generating units that are expected to benefit from the synergies of the acquisition. Goodwill arising on consolidation is not amortised, however, it is tested for impairment annually. in the event of cessation of operations of a subsidiary, the unimpaired goodwill is written off fully. Business combinations arising from transfers of interests in entities that are under common control are accounted at historical cost. the difference between any consideration given and the aggregate historical carrying amounts of assets and liabilities of the acquired entity are recorded in shareholders’ equity.

|584| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts NOTE [51] Disclosure pursuant to Ind AS 103 “Business Combinations”: (a) Acquisition of Graphene Group (i) On October 15, 2018, the Group has acquired 100% stake in Graphene Semiconductor Services Private Limited, a Bengaluru based company, along-with its fully owned subsidiary viz. Graphene Solutions PTE Ltd., Graphene Solutions SDN.BHD, Graphene Solutions Taiwan Limited and Seastar Labs Private limited, operating in the IT & Technology Services segment. (ii) Assets acquired and liabilities recognised on the date of acquisition are as follows: ` crore Graphene Semiconductor Services Private Limited (Consolidated) Assets Non-current assets Trade Names 3.86 Customer Relationships 35.52 Deferred Tax Assets 1.51 Other non-current assets 2.33 43.22 Current assets Trade receivables 12.18 Cash and bank balances 8.68 Other current assets 5.61 26.47 Total Assets 69.69 Liabilities Non-current liabilities Deferred Tax Liability 13.56 Other non- current Liabilities 0.39 13.95 Current liabilities Trade payables 0.79 Other current liabilities 15.31 16.10 Total Liabilities 30.05 Net Assets acquired 39.64 (iii) Calculation of Goodwill: ` crore Graphene Semiconductor Services Private Limited (Consolidated) Purchase consideration: Cash (A) 66.72 Contingent consideration payable over one year (B) 11.50 Purchase consideration paid (C=A+B) 78.22 Less: Net assets acquired 39.64 Goodwill 38.58 (iv) Goodwill is attributable to future growth of business out of synergies from this acquisition and assembled workforce. (v) The Group has recognised contingent consideration in accordance with terms of share purchase and subscription agreement.

|585| Chap. 23 – Ind AS 103 – Business Combinations The maximum contingent consideration of ` 13.00 crore is payable to the promoters of Graphene upon achievement of specified financial targets. The fair value of contingent consideration is determined by assigning probabilities of achievement of the targets. (vi) These entities have reported revenue of ` 38.51 crore and profit after tax of ` 5.15 crore from the date of acquisition till March 31, 2019. Had the entities been acquired from April 1, 2018, they would have reported revenue of ` 84.20 crore and profit after tax of ` 11.30 crore during 2018-19. (vii) Trade receivables acquired have been substantially collected during the year. (b) Acquisition of Ruletronics Group (i) On February 01, 2019, the Group has acquired 100% stake in Ruletronics Systems Private Limited, India, Ruletronics Limited, UK and Ruletronics Systems Inc, USA, operating in the IT & Technology Services segment. (ii) Assets acquired and liabilities recognised on the date of acquisition are as follows: ` crore Ruletronics Systems Private Limited, India Ruletronics Limited, UK Ruletronics Systems Inc, USA Assets Non-current assets Property, Plant & Equipment 0.26 0.07 0.04 Other non-current assets 0.003 0.26 – 0.07 – 0.04 Current assets Trade receivables 3.13 5.75 4.24 Cash and bank balances 0.40 3.64 0.27 Other current assets 2.17 5.70 0.85 10.24 – 4.51 Total Assets 5.96 10.31 4.55 Liabilities Non-current liabilities Deferred Tax Liability 0.02 – – Current liabilities Trade payables 0.28 1.42 0.42 Other current liabilities 1.41 1.69 2.57 3.99 0.15 0.57 Total Liabilities 1.71 3.99 0.57 Net Assets acquired 4.25 6.32 3.98 (iii) Calculation of Goodwill: ` crore Ruletronics Systems Private Limited, India Ruletronics Limited, UK Ruletronics Systems Inc, USA Purchase consideration: Cash (A) 2.84 13.66 7.13 Deferred consideration payable over future years (B) 2.54 – – Present Value of Contingent consideration payable over future years (C) – 15.48 12.92 Purchase consideration paid (D=A+B+C) 5.38 29.14 20.05 Less: Net assets acquired 4.25 6.32 3.98 Goodwill 1.13 22.82 16.07

|586| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts (iv) Goodwill is attributable to future growth of business out of synergies from this acquisition and assembled workforce. (v) The Group has recognised contingent consideration in accordance with the terms of the share purchase agreement. The maximum contingent consideration of ` 32.81 crore is payable to the promoters of Ruletronics upon achievement of the specified financial targets. The fair value of the contingent consideration is determined by assigning probabilities of achievement of targets. (vi) These entities have reported revenue of ` 7.56 crore and profit after tax of ` 0.34 crore from the date of acquisition till March 31, 2019. Had the entities been acquired from April 1, 2018, they would have reported revenue of R 36.46 crore and profit after tax of ` 7.10 crore during 2018-19. (vii) Out of ` 13.12 crore trade receivables acquired, ` 6.95 crore have been collected during the year. (c) Acquisition of Nielsen+Partner Group (i) On February 01, 2019, the Group has acquired 100% stake in Nielsen+Partner Unternehmensberater GmbH, Germany, along-with its fully owned subsidiaries viz. Nielsen+Partner Unternehmensberater AG, Switzerland, Nielsen+Partner Pte. Ltd., Singapore, Nielsen+Partner S.A. Luxembourg, Nielsen&Partner Pty Ltd., Australia, Nielsen&Partner Co. Ltd., Thailand, operating in the IT & Technology Services (ii) Assets acquired and liabilities recognised on the date of acquisition are as follows: ` crore Nielsen+Partner (Consolidated) Assets Non-current assets 18.29 Customer Relationships 0.58 Property, Plant & Equipment 2.42 21.29 Other non-current assets Current assets Trade receivables 24.39 Cash and bank balances 20.06 Other current assets 1.18 45.63 Total Assets 66.92 Liabilities Non-current liabilities 6.39 Deferred Tax Liability Current liabilities Trade payables 3.76 Other current liabilities 16.36 20.12 Total Liabilities 26.51 Net Assets acquired 40.41 (iii) Calculation of Goodwill: ` crore Purchase consideration: Cash (A) 186.37 Present Value of Contingent consideration payable over future years (B) 35.11 Purchase consideration paid (C=A+B) 221.48 Less: Net assets acquired 40.41 Goodwill 181.07

|587| Chap. 23 – Ind AS 103 – Business Combinations 15. MAHINDRA LIFESPACE DEVELOPERS LIMITED The Group accounts for its business combinations under acquisition method of accounting. The acquirer’s identifiable assets, liabilities and contingent liabilities that meet the condition for recognition are recognised at their fair values at the acquisition date. The difference between the fair value of the purchase consideration paid together with non-controlling interest on acquisition date and the fair value of net assets acquired is recognised as goodwill or capital reserve on acquisition. The excess of the sum of the consideration transferred, the amount of any non-controlling interests in the acquiree, and the fair value of the acquirer’s previously held equity interest in the acquiree (if any) over the net of the acquisitiondate amounts of the identifiable assets acquired and the liabilities assumed is recognized as goodwill. Any shortfall is recognised as capital reserve on consolidation. In case of a bargain purchase, before recognising gain in respect thereof, the Group determines whether there exists clear evidence of underlying reasons for classifying the business combination as a bargain purchase. Thereafter, the Group reassesses whether it has correctly identified all of the assets acquired and all of the liabilities assumed and recognises any additional asset or liabilities that are identified in that reassessment. The Group then reviews the procedures used to measure the amounts that Ind AS requires for the purposes of calculating the bargain purchase. If the gain remains after this reassessment and review, the Group recognises it in other comprehensive income and accumulates the same in equity as capital reserve. This gain is attributed to the acquirer. If there does not exist clear evidence of the underlying reasons for classifying the business combination as a bargain purchase, the Group recognises the gain, after reassessing and reviewing (as described above), directly in equity as capital reserve. The interest in non-controlling interest is initially measured at fair value or at the proportionate share of the acquiree’s identifiable net assets. The choice of measurement basis is made on an acquisition by acquisition basis. Subsequent to initial acquisition, the carrying amount of non-controlling interest is the amount of those interest in initial recognition plus the non-controlling interest’s share of subsequent changes in equity of subsidiaries. When the consideration transferred by the Group in business combination includes assets or liabilities resulting in a contingent consideration arrangement, the contingent consideration is measured at its acquisition date fair value and included as a part of the consideration transferred in a business combination. Changes in the fair value of the contingent consideration that qualify as measurement period adjustments, are adjusted retrospectively, with corresponding adjustments against goodwill or capital reserve as the case may be. Measurement period adjustments are adjustments that arise from additional information during the ‘measurement period’ (which cannot exceed one year from the acquisition date) about facts and circumstances that existed at the acquisition date. The subsequent accounting for changes in the fair value of the contingent consideration that do not qualify as the measurement period adjustments depends on how the contingent consideration is classified. Contingent consideration that is classified as equity is not remeasured at subsequent reporting dates and its subsequent settlement is accounted for within equity. Contingent consideration that is classified as an asset or a liability is remeasured at fair value at subsequent reporting dates with the corresponding gain or loss being recognised in profit or loss. When a business combination is achieved in stages, the Group’s previously held equity interest in the acquiree is remeasured to its acquisition-date fair value and the resulting gain or loss, if any, is recognised in profit or loss. Amounts arising from interests in the acquiree prior to the acquisition date that have previously been recognised in other comprehensive income are reclassified to profit or loss where such treatment would be appropriate if that interest were disposed of. If the initial accounting for a business combination is incomplete by the end of the reporting period in which the combination occurs, the Group reports provisional amount for the items for which the accounting is incomplete. Those provisional amount are adjusted during the measurement period, or additional assets or liabilities are recognised, to reflect new information obtained about facts and circumstances that existed at the acquisition date that, if known, would have affected the amount recognised at that date

|588| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts 16. PIRAMAL ENTERPRISES LIMITED The acquisition method of accounting is used to account for all business combinations, regardless of whether equity instruments or other assets are acquired. The consideration transferred for the acquisition of a subsidiary comprises the: • fair values of the assets transferred; • liabilities incurred to the former owners of the acquired business; • equity interests issued by the group; and • fair value of any asset or liability resulting from a contingent consideration arrangement. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are, with limited exceptions, measured initially at their fair values at the acquisition date. The group recognises any non-controlling interest in the acquired entity on an acquisition-by-acquisition basis at the non-controlling interest’s proportionate share of the acquired entity’s net identifiable assets. Acquisition-related costs are expensed as incurred. The excess of the • consideration transferred; • amount of any non-controlling interest in the acquired entity, and • acquisition-date fair value of any previous equity interest in the acquired entity over the fair value of the net identifiable assets acquired is recorded as goodwill. If those amounts are less than the fair value of the net identifiable assets of the business acquired, the difference is recognised in other comprehensive income and accumulated in equity as capital reserve provided there is clear evidence of the underlying reasons for classifying the business combination as a bargain purchase. In other cases, the bargain purchase gain is recognised directly in equity as capital reserve. Where settlement of any part of cash consideration is deferred, the amounts payable in the future are discounted to their present value as at the date of exchange. The discount rate used is the entity’s incremental borrowing rate, being the rate at which a similar borrowing could be obtained from an independent financier under comparable terms and conditions. Contingent consideration is classified either as equity or a financial liability. Amounts classified as a financial liability are subsequently remeasured to fair value with changes in fair value recognised in profit or loss. If the business combination is achieved in stages, the acquisition date carrying value of the acquirer’s previously held equity interest in the acquiree is remeasured to fair value at the acquisition date. Any gains or losses arising from such remeasurement are recognised in profit or loss or other comprehensive income, as appropriate. Common control transactions Business combinations involving entities that are controlled by the group are accounted for using the pooling of interests method as follows: The assets and liabilities of the combining entities are reflected at their carrying amounts. No adjustments are made to reflect fair values, or recognise any new assets or liabilities. Adjustments are only made to harmonise accounting policies. The balance of the retained earnings appearing in the financial statements of the transferor is aggregated with the corresponding balance appearing in the financial statements of the transferee or is adjusted against general reserve. The identity of the reserves are preserved and the reserves of the transferor become the reserves of the transferee.

|589| Chap. 23 – Ind AS 103 – Business Combinations The difference, if any, between the amounts recorded as share capital issued plus any additional consideration in the form of cash or other assets and the amount of share capital of the transferor is transferred to capital reserve and is presented separately from other capital reserves. The financial information in the financial statements in respect of prior periods is restated as if the business combination had occurred from the beginning of the preceding period in the financial statements, irrespective of the actual date of combination. However, where the business combination had occured after that date, the prior period information is restated only from that date. 17. PVR LIMITED Accounting Policies (l) Business Combination and Goodwill Business combinations are accounted for using the acquisition method. At the acquisition date, the identifiable assets acquired and the liabilities assumed are recognised at their acquisition date fair values. For this purpose, the liabilities assumed include contingent liabilities representing present obligation and they are measured at their acquisition fair values irrespective of the fact that outflow of resources embodying economic benefits is not probable. However, the following assets and liabilities acquired in a business combination are measured at the basis indicated below: • Deferred tax assets or liabilities, and the assets or liabilities related to employee benefit arrangements are recognised and measured in accordance with Ind AS 12 Income Tax and Ind AS 19 Employee Benefits respectively; • Liabilities or equity instruments related to share based payment arrangements of the acquiree or share – based payments arrangements of the Group entered into to replace share-based payment arrangements of the acquire are measured in accordance with Ind AS 102 Share-based Payments at the acquisition date; • Assets (or disposal Group’s) that are classified as held forsale in accordance with Ind AS 105 Noncurrent Assets Held for Sale and Discontinued Operations are measured in accordance with that standard; and • Reacquired rights are measured at a value determined on the basis of the remaining contractual term of the related contract. Such valuation does not consider potential renewal of the reacquired right. When the Group acquires a business, it assesses the financial assets and liabilities assumed for appropriate classification and designation in accordance with the contractual terms, economic circumstances and pertinent conditions as at the acquisition date. If the business combination is achieved in stages, any previously held equity interest is re-measured at its acquisition date fair value and any resulting gain or loss is recognised in profit or loss or Other comprehensive income, as appropriate. Any contingent consideration to be transferred by the acquirer is recognised at fair value at the acquisition date. Contingent consideration classified as an asset or liability that is a financial instrument and within the scope of Ind AS 109 Financial Instruments, is measured at fair value with changes in fair value recognised in profit or loss. If the contingent consideration is not within the scope of Ind AS 109, it is measured in accordance with the appropriate Ind AS. Contingent consideration that is classified as equity is not remeasured at subsequent reporting dates and subsequent its settlement is accounted for within equity. Goodwill is initially measured at cost, being the excess of theaggregate of the consideration transferred and the amount recognised for non-controlling interests, and any previous interest held, over the net identifiable assets acquired and liabilities assumed. If the fair value of the net assets acquired is in excess of the aggregate consideration transferred, the Group re-assesses whether it has correctly identified all of the assets acquired and all of the liabilities assumed and reviews the procedures used to measure the amounts to be recognised at the acquisition date. If the reassessment still results in an excess of the fair value of net assets acquired over the aggregate consideration transferred, then the gain is recognised in OCI and accumulated

|590| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts in equity as capital reserve. However, if there is no clear evidence of bargain purchase, the entity recognises the gain directly in equity as capital reserve, without routing the same through Other comprehensive income. As a result from business combination the Group as whole has gained synergies relating to increase in revenue, decrease of certain operational cost and effective vendor negotiation. The Group as a whole is considered as a CGU, and there are no other CGU’s identifiable to which Goodwill from business combinations is allocated, unless mentioned separately. A cash generating unit to which goodwill has been allocated is tested for impairment annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash generating unit is less than its carrying amount, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro rata based on the carrying amount of each asset in the unit. Any impairment loss for goodwill is recognised in profit or loss. An impairment loss recognised for goodwill is not reversed in subsequent periods. Where goodwill has been allocated to a cash-generating unit and part of the operation within that unit is disposed of, the goodwill associated with the disposed operation is included in the carrying amount of the operation when determining the gain or loss on disposal. Goodwill disposed in these circumstances is measured based on the relative values of the disposed operationand the portion of the cash-generating unit retained. If the initial accounting for a business combination is incomplete by the end of the reporting period in which the combination occurs, the Group reports provisional amounts for the items for which the accounting is incomplete. Those provisional amounts re adjusted through goodwill during the measurement period, or additional assets or liabilities are recognised, to reflect new information obtained about facts and circumstances that existed at the acquisition date that, if known, would have affected the amounts recognised at that date. These adjustments are called as measurement period adjustments. The measurement period does not exceed one year from the acquisition date. Disclosures 42 Business Combinations Acquisition of SPI Cinemas Private Limited: The Board of Directors in its meeting held on August 12, 2018, approved the acquisition of SPI Cinemas Private Limited (“SPI”) via Share Purchase Agreement (SPA) signed on August 12, 2018 by way of acquisition of 71.69% equity shares in SPI for a cash consideration of ` 63,560 lakhs and for the balance 28.31% stake, through issue of 1,599,974 equity shares of the Company to SPI shareholders in the ratio of 1: 18.19 equity shares in the Company, pursuant to the proposed scheme of amalgamation (“Scheme”). Consequent to above, on fulfilment of condition precedent in the said SPA, on August 17, 2018, the Company completed the acquisition of 71.69% shareholding in SPI. The proposed scheme of amalgamation has been approved by National Stock Exchange of India Limited & BSE Limited. Further, the scheme of amalgamation has been approved by the members, secured and unsecured creditors of the Company and unsecured creditors of SPI in the NCLT convened meetings on April 24, 2019. The Company has filed an application with NCLT for final order in the matter. NCLT vide order dated May 8, 2019 has fixed July 10, 2019 as the next date of hearing of the Petition for the consideration of the approval of the Scheme of Amalgamation between the Petitioner Companies. The acquisition of SPI is of significant strategic value for the Company and will further cement the Company’s market leadership position in India. The acquisition will make the Company leader in the South Indian market and provide an attractive platform for us to expand in that geography, which currently is highly underpenetrated in terms of multiplexes. The Company expects to realise synergies and cost savings related to this acquisition as a result of purchasing and procurement economies of scale and general and administrative expense savings, particularly with respect to the consolidation of corporate related functions and elimination of redundancies.

|591| Chap. 23 – Ind AS 103 – Business Combinations A Fair value of consideration transferred:- Particulars Amount Cash consideration 53,560 Deferred consideration * 10,000 63,560 Value of Equity shares to be issued ** 25,000 Total consideration for business combination 88,560 * Deferred Consideration is outstanding and payable to SPI Cinemas shareholders on achievement of certain milestones (opening of cinema hall and getting certain regulatory approvals), where achievement of certain milestones, with regard to opening of new cinema hall and obtainng regulatory approval is more probable. **Represents Non-controlling interest in the acquired Company as at acquisition date measured at fair value. B Fair value of identifiable assets acquired and liabilities assumed as on the date of acquistion on a provisional basis is as below: Particulars Amount Property, plant and equipment 20,204 Land 797 Capital work in progress 3,388 Intangible assets 17,000 Other non-current assets 8,431 Inventories 277 Trade receivables 1,844 Other financial assets 435 Other current assets 1,943 Total assets 54,319 Non-current Borrowings 12,993 Current Borrowings 550 Other non-current liabilities* 10,785 Other financial liabilities 3,629 Other current liabilities 2,995 Total Liabilities 33,313 Total Fair Value of the Net Assets *** 21,006 * Includes Deferred tax liabilities of ` 7,263 lakhs, refer note-47 of Income tax expense . C Amount recognised as provisional goodwill Particulars Amount Total consideration for business combination (Refer A above) 88,560 Less: Fair value of net assets acquired (Refer B above) 21,006 Provisional Goodwill *** 67,554 *** Basis preliminary purchase price allocation to various identifiable acquired assets and assumed liabilities, provisional Goodwill has been recognised. Accordingly, the fair values of assets acquired and liabilities assumed may be adjusted with the corresponding adjustment to Goodwill during the measurement period as stated in "Ind AS 103 (Business Combination)". D Non-controlling Interest includes ` 25,000 lakhs towards balance 28.31% stake in SPI. The valuation of Non-controlling has been done at the rate of ` 1562.5 per share for 1,599,974 equity shares. To arrive at the relative value of SPI and PVR, appropriate weights were given to the value per share determined as per the Income Approach and Market Approach. E As on date of acquisition, gross contractual amount of the acquired Trade Receivables and Other Financial Assets was ` 2,279 Lakhs against which no provision has been considered, since fair value of acquired receivables and other financial assets are equal to carrying value as on date of acquisition.

|592| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts F Details of Revenue and financial results generated by SPI post acquisition: Particulars August 18, 2018 to March 31, 2019 Income from Sale of movie tickets 12,684 Sale of food and beverages 8,966 Advertisement income 2,450 Convenience fees 2,432 Other Operating Revenue 3,178 Revenue from operations 29,710 Other Income 174 Total Income 29,884 Net profit after tax 2,301 If the acquisition had occurred on April 1, 2018, management estimates that the consolidated revenue from operations would have been ` 324,607 lakhs, and consolidated profit for the year would have been ` 19,420 lakhs. In determining these amounts, management has assumed that the fair value adjustments, determined provisionally, that arose on the date of acquisition would have been the same if the acquisition had occurred on April 1, 2018. G Acquisition related costs amounting to ` 133 lakhs has been charged to Statement of profit and loss. H As the acquisition being voluminous in nature, the management is in the process of finalising its fair valuation with regard to the assets acquired and liabilities assumed, accordingly, provisional fair values have been considered as at the year ended 31 March 2019. The same will be finalised when the information is obtained or within 1 year of acquisition as required under Ind AS 103 “Business Combination”. 18. RELIANCE JIO INFOCOMM LIMITED DISCLOSURE 40. Composite Scheme of Arrangement The Board of Directors of the Company at their meeting held on 11th December 2018 approved a Composite Scheme of Arrangement (herein after referred to as “the Scheme”) between Reliance Jio Infocomm Ltd (RJIL) and Jio Digital Fibre Private Limited (JDFPL) and Reliance Jio Infratel Private Limited (RJIPL) and their respective Shareholders and Creditors, inter-alia, for: a) Reduction of Preference Share Capital and Securities Premium of RJIL; b) the demerger of the Optic Fiber Cable undertaking (Demerged Undertaking) of RJIL and its transfer to and vesting into JDFPL; and c) transfer and vesting of the Tower Infrastructure undertaking (Transferred Undertaking) of RJIL to RJIPL for a lump sum consideration, with effect from the Appointed Date of 31st March 2019. The creditors and the shareholders of the Company approved the Scheme on 18th February, 2019. The Scheme has been approved by the Ahmedabad bench of Hon’ble National Company Law Tribunal (NCLT) vide its Order dated 20th March 2019 and the certified copy of the Order approving the Scheme has been filed with the Registrar of Companies on 30th March 2019. The Scheme has an Appointed date of 31st March, 2019. The effect of the Scheme has been given in these Standalone Financial Statements for the year ended 31st March 2019.

|593| Chap. 23 – Ind AS 103 – Business Combinations A. Reduction of preference share capital and securities premium of the Company Pursuant to the Scheme: The cancellation of 13,00,00,00,000 preference shares, in the books of account of the Company has the consequence of, the issued, subscribed and paid up preference share capital being debited with ` 13,000 crore for the aggregate face value of preference shares cancelled and the securities premium account being reduced by ` 52,000 crore, by way of constructive payment to such preference shareholders. Correspondingly, equivalent amounts have been credited to loan accounts in the books of account of RJIL, by way of constructive receipt of amount towards loans. (Refer Note 13 – Other Equity in the financial statements) B. Demerger of the Optic Fiber Cable Undertaking Pursuant to the Scheme: i. All assets and liabilities of the demerged undertaking of RJIL, stand transferred to and vested with JDFPL, at their carrying values, on a going concern basis with effect from 31st March 2019; ii. Excess of assets over liabilities amounting ` 501 crore as at 31st March 2019 has been debited to the retained earnings of the Company, as detailed below: Assets ` in crores Non-Current Assets 86,840 Current Assets 4,531 Total Assets (A) 91,371 Liabilities ` in crores Non-Current Liabilities 71,755 Current Liabilities 19,115 Total Liabilities (B) 90,870 Excess of assets over liabilities debited to retained earnings (A – B) 501 iii. The Board of Directors of JDFPL allotted: I. 5,00,00,00,000 equity shares of JDFPL of ` 1 each fully paid up, to the shareholders of RJIL in the ratio of 1 equity share for every 9 equity shares held in RJIL. II. 78,13,96,66,092 preference shares of JDFPL of ` 10 each fully paid up to the shareholders of RJIL for the difference between the value of the assets recorded in the books of JDFPL and book value of the assets of RJIL transferred to JDFPL. III. 12,50,000 redeemable preference shares of ` 10 each fully paid up to the preference shareholders of RJIL in the ratio of 1 preference share for every 100 preference shares held in RJIL. C. Transfer of Tower Infrastructure Undertaking for a lump sum consideration Pursuant to the Scheme: i) All assets and liabilities of the transferred undertaking of RJIL, stand transferred to and vested with RJIPL, at their carrying values, on a going concern basis with effect from 31st March 2019; ii) RJIPL has discharged the lump sum consideration to RJIL by issuance of: I. 2,00,00,00,000 Class A equity shares of ` 1 each fully paid up. II. 5,00,00,000 preference shares of ` 10 each fully paid up. Assets ` in crores Non-Current Assets 33,370 Current Assets 3,426 Total Assets (A) 36,796

|594| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Liabilities ` in crores Non-Current Liabilities 22,543 Current Liabilities 14,003 Total Liabilities (B) 36,546 Excess of assets over liabilities (A-B) 250 iv) The equity/preference shares received by RJIL as a lump sum consideration, are recorded in its books of account at cost, being the carrying value of the net assets of the Transferred Undertaking referred to in C (iii) above.. 19. SHREE CEMENT LIMITED Accounting Policies r) Business Combination The Company applies the acquisition method in accounting for business combinations. The consideration transferred by the Company to obtain control of a business is calculated as the sum of the fair values of assets transferred, liabilities incurred and assumed and the equity interests issued by the Company as at the acquisition date i.e. date on which it obtains control of the acquiree which includes the fair value of any asset or liability arising from a contingent consideration arrangement. Acquisition related costs are recognized in the Statement of Profit and Loss as incurred, except to the extent related to the issue of debt or equity securities. Identifiable assets acquired and liabilities assumed in a business combination are measured initially at their fair values on acquisition date. Intangible Assets acquired in a Business Combination and recognized separately from Goodwill are initially recognized at their fair value at the acquisition date (which is regarded as their cost). Goodwill is measured as the excess of the aggregate of the consideration transferred and the amount recognized for non-controlling interests and any previous interest held, over the net identifiable assets acquired and liabilities assumed. Subsequent to initial recognition, intangible assets with definite useful life acquired in a Business Combination are reported at cost less accumulated amortization and accumulated impairment losses, on the same basis as intangible assets that are acquired separately. Goodwill and Intangible assets with indefinite useful life, if any, are tested for impairment at the end of each annual reporting period. If the fair value of the net assets acquired is in excess of the aggregate consideration transferred, the excess is termed as gain on bargain purchase. In case of a bargain purchase, before recognizing a gain in respect thereof, the Company determines whether there exists clear evidence of the underlying reasons for classifying the business combination as a bargain purchase thereafter, the Company reassesses whether it has correctly identified all the assets acquired and liabilities assumed and recognizes any additional assets or liabilities that are so identified, any gain thereafter is recognized in OCI and accumulated in equity as Capital Reserve. If there does not exist clear evidence of the underlying reasons for classifying the business combination as a bargain purchase, the Company recognizes the gain, after reassessing and reviewing, directly in equity as Capital Reserve. Contingent consideration is classified either as equity or financial liability. Amount classified as financial liability are subsequently re-measured to fair value with changes in fair value recognized in Statement of Profit and Loss. Disclosures Note 38: ACQUISITION OF CONTROLLING EQUITY STAKE IN UNION CEMENT COMPANY PJSC (UCC) A. During the year, the Company has acquired voting equity stake of 97.61% in UCC, a company based in United Arab Emirates (U.A.E) on 11 July, 2018 through its step down subsidiary Shree International Holding

|595| Chap. 23 – Ind AS 103 – Business Combinations Limited. UCC has clinker production capacity of 3.3 MTPA and cement production capacity of 4 MTPA. UCC is operating in U.A.E for more than 4 decades and has well established cement business. It has consistent track record of stable turnover and profits. The acquisition will help the Company establish its first footprint outside India and will be value accretive for the stakeholders of the Company. B. Fair Value of the consideration transferred The purchase consideration of ` 2,086.80 crore has been discharged by fund transfer into bank accounts of the sellers. C. Acquired Receivables As on the date of acquisition, gross contractual amount of the acquired trade receivables and other financial assets was ` 347.38 crore against which provision of ` 6.56 crore was considered. Fair value of the acquired receivables are equal to the net carrying value as on the date of acquisition. D. The fair value of identifiable assets and liabilities assumed as on the acquisition date: Particulars ` in Crore Property, Plant and equipment 1,687.76 Intangible Assets 6.84 Other Non-Current Assets 0.50 Cash and Cash Equivalents 137.59 Inventories 239.13 Trade Receivables 331.23 Other Financial Assets 9.59 Other Current Assets 19.69 Total Assets 2,432.33 Trade payables 207.37 Other Financial Liabilities 29.01 Other Current Liabilities 6.26 Provisions 30.20 Total Liabilities 272.84 Total Fair Value of Net Assets 2,159.49 E. Amount recognized as Capital Reserve Particulars Amount Fair Value of Net Assets Acquired 2,159.49 Less: Proportionate share of Non-Controlling interest 63.60 Less: Fair Value of the consideration transferred 2,086.80 Capital Reserve 9.09 F. Non-Controlling Interest Amount of ` 63.60 crore recognized as non-controlling interest measured on the basis of proportionate share in the recognized amount of the acquiree’s identifiable net assets at the acquisition date. G. Acquisition Related Costs Acquisition related costs of ` 22.69 crore (for the year ended 31.03.2018 ` 7.31 crore) have been recognized under other expenses in the Consolidated Statement of Profit and Loss. H. Revenue from operation of ` 813.80 crore and net profit of ` 63.59 crore from the acquired business since the acquisition date i.e. 11 July, 2018 included in the Consolidated Statement of Profit and Loss for the year ended 31 March, 2019.

|596| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts 39. ACQUISITION OF 100% EQUITY STAKE IN RAIPUR HANDLING AND INFRASTRUCTURE PRIVATE LIMITED A. During the year, the Company has acquired 100% voting equity stake in the “Raipur Handling and Infrastructure Private Limited” (RHIPL), on 14 May, 2018 in order to have the perpetual benefits of various intangible assets and preferential usage of private freight terminal situated near to the cement plant of the Company in the state of Chhattisgarh. B. Fair Value of the consideration transferred The purchase consideration of ` 59.00 crore has been discharged by fund transfer into bank accounts of the sellers. C. Acquired Receivables As on the date of acquisition, gross contractual amount of the acquired Loans and Trade Receivables was ` 1.61 crore against which no provision was considered since fair value of the acquired receivables are equal to the net carrying value as on the date of acquisition. D. The fair value of identifiable assets and liabilities assumed as on the acquisition date: Particulars ` in Crore Property, Plant and equipment 28.13 Intangible Assets 30.93 Investments 1.75 Loans 1.06 Non-Current Tax Assets (Net) 0.14 Cash and Cash Equivalents 0.11 Trade Receivables 0.55 Other Current Assets 0.22 Total Assets 62.89 Trade payables 1.17 Other Financial Liabilities 0.71 Other Current Liabilities 0.07 Deferred Tax Liability 0.19 Total Liabilities 2.14 Total Fair Value of Net Assets 60.75 E. Amount recognized as Capital Reserve Particulars ` in Crore Fair Value of Net Assets Acquired 60.75 Less: Fair Value of the consideration transferred 59.00 Capital Reserve 1.75 F. Acquisition Related Costs Acquisition related costs of ` 0.15 crore have been recognized under other expenses in the Consolidated Statement of Profit and Loss. G. Revenue from Operations of ` 1.89 crore and Net Profit of ` 1.08 crore from the acquired business since the acquisition date i.e. 14 May, 2018 included in the Consolidated Statement of Profit and Loss for the year ended 31 March, 2019. 40. Consolidated Revenue from operation and Consolidated Profit for the year (excluding non-controlling interest share) as though the acquisition date for all business combination that occurred during the year had been as of the beginning of the reporting period i.e. 1 April, 2018:

|597| Chap. 23 – Ind AS 103 – Business Combinations Particulars ` in Crore Consolidated revenue from operations 12,819.70 Consolidated profit for the year 987.41 41. The Consolidated Financial Results for the year ended 31 March, 2019 includes results of UCC and RHIPL. Hence, consolidated figures for the current year ended 31 March, 2019 are not comparable with the previous year consolidated figures.. 20. TATA COFFEE LIMITED Business Combinations – IND AS 103. The Group applies the acquisition method to account for business combinations. The consideration transferred for the acquisition of a subsidiary comprises of the, - Fair values of the assets transferred, - Liabilities incurred to the former owners of the acquired business, - Equity interests issued by the Group and - fair value of any asset or liability resulting from a contingent consideration arrangement Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. The excess of the fair value of consideration over the identifiable net asset acquired is recorded as goodwill. If the consideration is lower, the gain is recognised directly in equity as capital reserve. In case, business acquisition is classified as bargain purchase, the aforementioned gain is recognised in the other comprehensive income and accumulated in equity as capital reserve. The Group recognises any noncontrolling interest in the acquired entity at fair value. Changes in ownership that do not result in a change of control are accounted for as equity transactions and therefore do not have any impact on goodwill. The difference between consideration and the non-controlling share of net assets acquired is recognised within equity. Business combinations involving entities or businesses under common control are accounted for using the pooling of interest method. Under pooling of interest method, the assets and liabilities of the combining entities are reflected at their carrying amounts, with adjustments only to harmonise accounting policies. Acquisition-related costs are expensed as incurred. If the business combination is achieved in stages, the acquisition date carrying value of the acquirer’s previously held equity interest in the acquiree is re-measured to fair value at the acquisition date; any gains or losses arising from such remeasurement are recognised in profit or loss or other comprehensive income, as appropriate. If the initial accounting for a business combination can be determined only provisionally by the end of the first reporting period, the business combination is accounted for using provisional amounts. Adjustments to provisional amounts, and the recognition of newly identified asset and liabilities, must be made within the ‘measurement period’ where they reflect new information obtained about facts and circumstances that were in existence at the acquisition date. The measurement period cannot exceed one year from the acquisition date and no adjustments are permitted after one year except to correct an error. Any contingent consideration to be transferred by the Group is recognised at fair value at the acquisition date. Subsequent changes to the fair value of the contingent consideration that is deemed to be an asset or liability is recognised in the statement of profit and loss. Contingent consideration that is classified as equity is not re-measured, and its subsequent settlement is accounted for within equity.

|598| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts 21. THE INDIAN HOTELS COMPANY LIMITED Business combinations Business combinations of entities under common control are accounted using the “pooling of interests” method and assets and liabilities are reflected at the predecessor carrying values and the only adjustments that are made are to harmonise accounting policies. The figures for the previous periods are restated as if the business combination had occurred at the beginning of the preceding period irrespective of the actual date of the combination. Business combination The Group uses the “acquisition method” of accounting to account for its business combinations as per which the identifiable assets or liabilities (and contingent liabilities) assumed are recognised at their fair values (with limited exceptions). Goodwill is measured as the excess of the sum of the consideration transferred, the amount of noncontrolling interests of the acquire, and the fair value of the acquirer’s previously held equity interests in the acquiree over the net of the acquisition date amounts of identifiable assets acquired and the liabilities assumed. If those amounts are less than the fair value of the net identifiable assets of the business acquired, the difference is recognised in Other Comprehensive Income and accumulated in equity as Capital Reserve provided there is clear evidence of the underlying reasons for classifying the business combination as a bargain purchase. In other cases, the bargain purchase gain is recognised directly in equity as Capital Reserve. Transaction costs incurred (other than debt related) in connection with a business combination, such as legal fees, due diligence fees and other professional and consulting fees are expensed as incurred. If the Group obtains control over one or more entities that are not businesses, then the bringing together of those entities are not business combinations. The cost of acquisition is allocated among the individual identifiable assets and liabilities of such entities, based on their relative fair values at the date of acquisition. Such transactions do not give rise to goodwill and no non-controlling interest is recognised. Business combinations of entities under common control are accounted using the “pooling of interests” method and assets and liabilities are reflected at the predecessor carrying values and the only adjustments that are made are to harmonise accounting policies. The figures for the previous periods are restated as if the business combination had occurred at the beginning of the preceding period irrespective of the actual date of the combination. 22. VEDANTA LIMITED Accounting Policies (B) Business combination Business acquisitions are accounted for under the purchase method. The acquiree’s identifiable assets, liabilities and contingent liabilities that meet the conditions for recognition under Ind AS 103 are recognised at their fair value at the acquisition date, except certain assets and liabilities required to be measured as per the applicable standards. Excess of fair value of purchase consideration and the acquisition date non-controlling interest over the acquisition date fair value of identifiable assets acquired and liabilities assumed is recognised as goodwill. Goodwill arising on acquisitions is reviewed for impairment annually. Where the fair values of the identifiable assets and liabilities exceed the cost of acquisition, the Group re-assesses whether it has correctly identified all of the assets acquired and all of the liabilities assumed and reviews the procedures used to measure the amounts to be recognized at the acquisition date. If the reassessment still results in an excess of the fair value of net assets acquired over the aggregate consideration transferred, then the gain is recognized in other comprehensive income and accumulated in equity as capital reserve. However, if there is no clear evidence of bargain purchase, the Group recognizes the gain directly in equity as capital reserve, without routing the same through other comprehensive income.

|599| Chap. 23 – Ind AS 103 – Business Combinations Where it is not possible to complete the determination of fair values by the date on which the first postacquisition financial statements are approved, a provisional assessment of fair value is made and any adjustments required to those provisional fair values are finalised within 12 months of the acquisition date. Those provisional amounts are adjusted through goodwill during the measurement period, or additional assets or liabilities are recognised, to reflect new information obtained about facts and circumstances that existed at the acquisition date that, if known, would have affected the amounts recognised at that date. These adjustments are called as measurement period adjustments. The measurement period does not exceed twelve months from the acquisition date. Any non-controlling interest in an acquiree is measured at fair value or at the non-controlling interest’s proportionate share of the acquiree’s net identifiable assets. This accounting choice is made on a transaction by transaction basis. Acquisition expenses are charged to the consolidated statement of profit and loss. If the Group acquires a group of assets in a company that does not constitute a business in accordance with Ind AS 103 Business Combinations, the cost of the acquired group of assets is allocated to the individual identifiable assets acquired based on their relative fair value. Common control transactions A business combination involving entities or businesses under common control is a business combination in which all of the combining entities or businesses are ultimately controlled by the same party or parties both before and after the business combination and the control is not transitory. The transactions between entities under common control are specifically covered by Ind AS 103. Such transactions are accounted for using the pooling-of-interest method. The assets and liabilities of the acquired entity are recognised at their carrying amounts recorded in the parent entity’s consolidated financial statements with the exception of certain income tax and deferred tax assets. No adjustments are made to reflect fair values, or recognise any new assets or liabilities. The only adjustments that are made are to harmonise accounting policies. The components of equity of the acquired companies are added to the same components within Group equity. The difference, if any, between the amounts recorded as share capital issued plus any additional consideration in the form of cash or other assets and the amount of share capital of the transferor is transferred to capital reserve and is presented separately from other capital reserves. The company’s shares issued in consideration for the acquired companies are recognized from the moment the acquired companies are included in these financial statements and the financial statements of the commonly controlled entities would be combined, retrospectively, as if the transaction had occurred at the beginning of the earliest reporting period presented. However, the prior year comparative information is only adjusted for periods during which entities were under common control. 4. BUSINESS COMBINATION a) Electrosteel Steels Limited On June 04, 2018, the Group, through its subsidiary Vedanta Star Limited (VSL) acquired management control over Electrosteel Steels Limited (ESL) as the previous Board of Directors of ESL was reconstituted on that date. Further, on June 15, 2018, pursuant to the allotment of shares to VSL, the Group holds 90% of the paid-up share capital of ESL through VSL. The acquisition will complement the Group’s existing Iron Ore business as the vertical integration of steel manufacturing capabilities has the potential to generate significant efficiencies. ESL was admitted under corporate insolvency resolution process in terms of the Insolvency and Bankruptcy Code, 2016 of India. The financial results of ESL from the date of acquisition have been included in the Consolidated Financial Statements of the Group. The fair value of the identifiable assets and liabilities of ESL as at the date of the acquisition were as follows:

|600| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts (` in Crore) Particulars Fair Value At Acquisition Non-Current Assets Property, Plant and Equipment 4,388 Capital work-in-progress 457 Income tax assets 5 Other non-current assets 56 Total non-current assets 4,906 Current Assets Inventories 820 Trade receivables 196 Other financial assets 88 Cash and cash equivalents 245 Other bank balances 311 Other current assets 100 Total current assets 1,760 Total Assets (A) 6,666 Non-current liabilities Provisions 10 Total non-current liabilities 10 Current liabilities Borrowings 7 Trade payables 778 Other financial liabilities 255 Provisions 2 Other current liabilities 98 Total current liabilities 1,140 Total Liabilities (B) 1,150 Net Assets (C=A-B) 5,516 Satisfied by: Fair value of total purchase consideration (D) 5,320 Non-Controlling interest on acquisition (10% of net assets after adjustment of borrowings from immediate parent of ` 3,554 Crore) (E) 196 Net Bargain Gain (C-D-E) - Since the date of acquisition, ESL has contributed ` 4,195 Crore and ` 277 Crore to the Group revenue and profit before taxation respectively for the year ended March 31, 2019. If ESL had been acquired at the beginning of the year, the revenue of the Group would have been ` 91,559 Crore and the profit before tax of the Group would have been ` 13,540 Crore. The carrying amount of trade receivables equals the fair value of trade receivables. None of the trade receivables was impaired and the full contractual amounts were expected to be realized. Property has been valued using the Market approach - Sales comparison method (SCM). This method models the behavior of the market by comparing with similar properties that have been recently sold/ rented or for which offers to purchase/ rentals have been made. Plant and equipment have been valued using the cost approach - Depreciated replacement cost (DRC) method. For estimating DRC, gross current replacement cost is depreciated in order to reflect the value attributable to the remaining portion of the total economic life of the plant and equipment. The method takes into account the age, condition, depreciation, obsolescence (economic and physical) and other relevant factors, including residual value at the end of the plant and equipment’s economic life.

|601| Chap. 23 – Ind AS 103 – Business Combinations Non-controlling interest has been measured at the non-controlling interest’s proportionate share of ESL’s identifiable net assets. Acquisition costs of ` 18 Crore related to ESL acquisition have been charged to consolidated statement of profit and loss. b) Avanstrate Inc. On December 28, 2017, the Group acquired 51.63% equity stake in AvanStrate Inc. (ASI) for a cash consideration of JPY 1 million (` 0.06 Crore) and acquired debts for JPY 17,058 million (` 964 Crore). Additionally, a loan of JPY 815 million (` 46 Crore) was extended to ASI. ASI is involved in manufaturing of glass substrate. Provisional fair values that were determined as at March 31, 2018 for consolidation were finalised during the current year. As per the shareholding agreement (SHA) entered with the other majority shareholder holding 46.6% in ASI, the Group has call option, conversion option to convert part of its debt given to ASI into equity of ASI as well as it has issued put option to the other majority shareholder. These are exercisable as per the terms mentioned in the SHA. The fair value of the identifiable assets and liabilities of ASI as adjusted for measurement period adjustments as at the date of the acquisition were as follows. The comparative period amounts have been restated accordingly. (` in Crore) Particulars Provisional Fair Value Fair Value Adjustments Fair Value At Acquisition Non-Current Assets Property, Plant and Equipment 1,385 - 1,385 Capital work-in-progress 163 - 163 Other intangible assets 205 - 205 Deferred tax assets 126 - 126 Other non-current assets 41 - 41 Total non-current assets 1,920 - 1,920 Current Assets Inventories 138 - 138 Trade Receivables 166 - 166 Cash and cash equivalents 151 - 151 Other Current Assets 64 - 64 Total current assets 519 - 519 Total Assets (A) 2,439 - 2,439 Non-current liabilities Borrowings (excluding borrowings from immediate parent) 631 - 631 Deffered tax liabilities 400 129 529 Other non-current liabilities 23 - 23 Total non-current liabilities 1,054 129 1,183 Other current liabilities 128 - 128 Total Liabilities (B) 1,182 129 1,311 Net Assets (C=A-B) 1,257 (129) 1,128 Satisfied by: Cash consideration paid for 51.63% stake & debt acquired 1,010 - 1,010

|602| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts (` in Crore) Particulars Provisional Fair Value Fair Value Adjustments Fair Value At Acquisition Less:Fair Value of Conversion option asset on debt acquired net of the fair value of Put option liability towards acquisition of Non-controlling interests (108) - (108) Total purchase consideration (D) 902 - 902 Non-Controlling interest on acquisition (48.37% of net assets after adjustment of fair value of borrowings from immediate parent of ` 902 Crore) (E) 2 107 109 Bargain Gain (C-D-E) 353 (236) 117 The net debit of ` 69 Crore recognized in Capital Reserve in the Statement of Changes in Equity, is the difference between the above bargain gain of ` 117 Crore and ` 186 Crore being the excess of gross fair value of the put option liability, held by the non controlling shareholder of ASI, over the mark to market loss on such liability on the date of acquisition. The carrying amount of trade and other receivables equals the fair value of trade and other receivables. None of the trade receivables was impaired and the full contractual amounts were expected to be realised. Property, plant and equipment have been valued using cost approach - cost of reproduction new (CRN) method. For estimating CRN, appropriate indices were used to develop trend factors that have been applied on the acquisition/ historical costs of the different assets over the period during which the asset has been commissioned or in other words life spent. The estimated CRN was further adjusted for applicable physical deterioration to arrive at fair value. The physical deterioration was based on the estimated age and remaining useful life. Fair value of assumed debt was determined using yield-method, wherein, the expected cash flows including interest component and principal repayments have been discounted at an appropriate market interest rate. Non-controlling interest has been measured at the non-controlling interest’s proportionate share of ASI’s identifiable net assets. Acquisition costs of ` 45 Crore related to ASI was charged to the consolidated statement of profit and loss for the year ended March 31, 2018 under exceptional items. c) Acquisition of new hydrocarbon blocks In August, 2018, Vedanta Limited was awarded 41 hydrocarbon blocks out of 55 blocks auctioned under the open acreage licensing policy (OALP) by Government of India (GOI). The blocks awarded to Vedanta Limited comprise of 33 onshore and 8 offshore blocks. Vedanta Limited will share a specified proportion of the net revenue from each block with GOI and has entered into 41 separate revenue sharing contracts (RSC) on October 01, 2018. The bid cost of ` 3,811 Crore represents Vedanta Limited’s total committed capital expenditure on the blocks for the committed work programs during the exploration phase. Vedanta Limited has provided bank guarantees for minimum work programme commitments amounting to ` 2,137 Crore for the 41 exploration blocks. These have been disclosed in note 37. 41. OTHER NOTES a) The Scheme of Amalgamation and Arrangement amongst Sterlite Energy Limited (‘SEL’), Sterlite Industries (India) Limited (‘Sterlite’), Vedanta Aluminium Limited (‘VAL’), Ekaterina Limited (‘Ekaterina’), Madras Aluminium Company Limited (‘Malco’) and the Company (the “Scheme”) had been sanctioned by the Honourable High Court of Madras and the Honourable High Court of Judicature of Bombay at Goa and was given effect to in the year ended March 31, 2014. Subsequently the above orders of the honourable High Court of Bombay and Madras have been challenged by Commissioner of Income Tax, Goa and Ministry of Corporate Affairs through a Special

|603| Chap. 23 – Ind AS 103 – Business Combinations Leave Petition before the honourable Supreme Court and also by a creditor and a shareholder of the Company. The said petitions are currently pending for hearing. b) (i) Pursuant to the Government of India’s policy of disinvestment, the Company in April 2002 acquired 26% equity interest in Hindustan Zinc Limited (HZL) from the Government of India. Under the terms of the Shareholder’s Agreement (‘SHA’),the Company had two call options to purchase all of the Government of India’s shares in HZL at fair market value. The Company exercised the first call option on August 29, 2003 and acquired an additional 18.9% of HZL’s issued share capital. The Company also acquired an additional 20% of the equity capital in HZL through an open offer, increasing its shareholding to 64.9%. The second call option provides the Company the right to acquire the Government of India’s remaining 29.5% share in HZL. This call option was subject to the right of the Government of India to sell 3.5% of HZL shares to HZL employees. The Company exercised the second call option on July 21, 2009. The Government of India disputed the validity of the call option and refused to act upon the second call option. Consequently the Company invoked arbitration which is in the early stages. The next date of hearing is to be notified. The Government of India without prejudice to the position on the Put / Call option issue has received approval from the Cabinet for divestment and the Government is looking to divest through the auction route. Meanwhile, the Supreme Court has, in January 2016, directed status quo pertaining to disinvestment of Government of India’s residual shareholding in a public interest petition filed which is currently pending and sub-judice. (ii) Pursuant to the Government of India’s policy of divestment, the Company in March 2001 acquired 51% equity interest in BALCO from the Government of India. Under the terms of the SHA, the Company had a call option to purchase the Government of India’s remaining ownership interest in BALCO at any point from March 2, 2004. The Company exercised this option on March 19, 2004. However, the Government of India contested the valuation and validity of the option and contended that the clauses of the SHA violate the erstwhile Companies Act, 1956 by restricting the rights of the Government of India to transfer its shares and that as a result such provisions of the SHA were null and void. In the arbitration filed by the Company, the arbitral tribunal by a majority award rejected the claims of the Company on the ground that the clauses relating to the call option, the right of first refusal, the “tag along” rights and the restriction on the transfer of shares violate the erstwhile Companies Act, 1956 and are not enforceable. The Company has challenged the validity of the majority award before the Hon’ble High Court at Delhi and sought for setting aside the arbitration award to the extent that it holds these clauses ineffective and inoperative. The Government of India also filed an application before the High Court to partially set aside the arbitral award in respect of certain matters involving valuation. The matter is currently scheduled for hearing by the Delhi High Court on August 02, 2019. Meanwhile, the Government of India without prejudice to its position on the Put / Call option issue has received approval from the Cabinet for divestment and the Government is looking to divest through the auction route. On January 9, 2012, the Company offered to acquire the Government of India’s interests in HZL and BALCO for ` 15,492 Crore and ` 1,782 Crore respectively. This offer was separate from the contested exercise of the call options, and Company proposed to withdraw the ongoing litigations in relation to the contested exercise of the options should the offer be accepted. To date, the offer has not been accepted by the Government of India and therefore, there is no certainty that the acquisition will proceed. In view of the lack of resolution on the options, the non-response to the exercise and valuation request from the Government of India, the resultant uncertainty surrounding the potential transaction and the valuation of the consideration payable, the Company considers the strike price of the options to be at the fair value, which is effectively nil, and hence the call options have not been recognised in the financial statements. c) Electrosteel Steels Limited had filed application for renewal of Consent to Operate (‘CTO’) on August 24, 2017 for the period of five years which was denied by Jharkhand State Pollution Control Board (‘JSPCB’) on August 23, 2018. Hon’ble High Court of Jharkhand has extended a stay on the order of

|604| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts denial of CTO by JSPCB and continued their interim order to allow the operations till next hearing. Hon’ble High Court has also extended stay against order of Ministry of Environment, Forests and Climate Change (MOEF) dated September 20, 2018 in respect of environment clearance. Presently the stay has been extended till May 16, 2019. d) Pursuant to Management Committee recommendation and minutes of Empowered Committee of Secretaries (ECS) filed by GoI, Vedanta Limited had considered cost recovery of ` 1,618 Crore (US$ 251 million) in FY 2017-18, being the cost incurred over the initially approved FDP of Pipeline Project. Vedanta Limited’s claim for the resultant profit petroleum of ` 297 Crore (US$ 43 million) (refer note 10), which had been previously paid, has been disputed by the GoI. The Group believes that it has a good case on merits to recover the amount and has therefore treated it as a non-current recoverable amount. 23. VODAFONE IDEA LIMITED Accounting Policies x) Business Combinations Business Combinations are accounted for using Ind AS 103 ‘Business Combination’. Acquisitions of businesses are accounted for using the acquisition method unless the transaction is between entities under common control. Acquisition related costs are recognized in the Consolidated statement of profit and loss as incurred. The acquiree’s identifiable assets, liabilities and contingent liabilities that meet the conditions for recognition are recognized at their respective fair value at the acquisition date, except certain assets and liabilities required to be measured as per applicable standards. Purchase consideration in excess of the Group’s interest in the acquiree’s net fair value of identifiable assets, liabilities and contingent liabilities is recognised as goodwill. Excess of the Group’s interest in the net fair value of the acquiree’s identifiable assets, liabilities and contingent liabilities over the purchase consideration, after reassessment of fair value of net assets acquired, is recognised as capital reserve. Business Combinations arising from transfer of interests in entities that are under common control and entities which results in formation of joint ventures, where one of the combining entities does not obtain control of the other combining entity or entities, accounted using pooling of interest method wherein, assets and liabilities of the combining entities are reflected at their carrying value. No adjustment is made to reflect fair values, or recognize any new assets or liabilities other than those required to harmonise accounting policies. The identity of the reserves is preserved and appears in the financial statements of the transferee in the same form in which they appeared in the financial statements of the transferor. Disclosure AMALGAMATION OF VODAFONE MOBILE SERVICES LIMITED (‘VMSL’) AND VODAFONE INDIA LIMITED (‘VINL’) WITH THE COMPANY Vodafone Mobile Services Limited (VMSL), Transferor Company 1 and Vodafone India Limited (VInL), Transferor Company 2 (collectively the Transferor Companies) who were in the business of providing telecommunication services under the respective licenses issued to them by the Department of Telecom (DoT), merged in to Idea Cellular Limited (ICL), the Transferee Company. These companies filed a scheme of amalgamation which was approved by their respective shareholders, creditors, Securities and Exchange Board of India (SEBI), Stock Exchanges, Competition Commission of India, Department of Telecommunications (DoT), Foreign Investment Promotion Board, Reserve Bank of India (RBI) and other required authorities / third parties. The scheme as approved by various regulatory authorities was sanctioned for the Transferee Company by Ahmedabad bench of National Company Law Tribunal (NCLT) on January 11, 2018 and for the Transferor Companies by the Mumbai bench of NCLT on January 19, 2018 subject to approval by DoT. The approval from DoT was received on July 26, 2018 after the Transferee Company deposited ` 39,263 Mn and provided a bank guarantee (BG) of ` 33,224 Mn under protest. The scheme became effective on August 31, 2018, the date on which the schemes along with all approvals, (including final NCLT approval) were filed

|605| Chap. 23 – Ind AS 103 – Business Combinations with the Registrar of Companies (RoC) at Ahmedabad. Upon the scheme becoming effective the Transferor Companies stood dissolved without being wound-up. This resulted in formation of a joint venture between the promotor groups i.e. Vodafone Group and Aditya Birla Group and change of name from ICL to Vodafone Idea Limited (VIL). The Vodafone Group and Aditya Birla Group owns 45.1% and 26.0% in the combined Company respectively and the balance 28.9% is owned by other shareholders as on August 31, 2018. In compliance with the scheme, on merger of VMSL i.e. Transferor Company 1 with the Transferee Company, 3,893,927,522 equity shares of VIL were issued to VInL i.e. Transferor Company 2 being the shareholder of Transferor Company 1. Immediately thereafter, on merger of VInL i.e. Transferor Company 2 with the Transferee Company, these shares were cancelled and 4,375,199,464 equity shares were issued afresh to shareholders of VInL. The stamp duty paid on such issue amounting to ` 83 Mn has been debited to Securities Premium Account. As per Indian Accounting Standards as prescribed under section 133 of the Companies Act, 2013, no specific accounting guidance is given in case of formation of a joint venture, hence, the Company had an option to either recognise contribution of business from the joint ventures using ‘Pooling of interest’ method or adopt the ‘fair value’ method. The Company has adopted ’Pooling of interest’ method. Accordingly, all the assets, liabilities and reserves of Transferor companies and its subsidiaries have been recorded at their carrying amounts and in the form in which they appeared in the financial statements as at the date of merger of the respective Transferor Companies and its subsidiaries and joint venture. The financial information in the consolidated financial statements in respect of prior periods are not restated as the business combination was not involving entities under common control. On the scheme becoming effective, the Company has consolidated line by line the assets, liabilities and components of Other Equity of each of the Transferor Companies after eliminating the inter-company transactions between these entities and adjustments with respect to alignment of accounting policies and practices through retained earnings. A) The aggregate carrying balances of the Transferor Companies and its subsidiaries which merge into the Company for the purposes of consolidation are as under: Particulars Transferor Companies and its subsidiaries Elimination (1) Adjustments (2) Total ASSETS Property, plant and equipment 275,218 - (561) 274,657 Capital work-in-progress 15,271 - - 15,271 Other Intangible assets 645,774 - (4,384) 641,390 Intangible assets under development 100,941 - - 100,941 Investment property 679 - - 679 Non-current investments 488,256 (8,222) (2,311) 477,723 Other non-current financial assets 7,676 - - 7,676 Deferred tax assets (net) 56,378 - (1,216) 55,162 Other non-current assets 133,027 (97) - 132,930 Inventories 36 - - 36 Short term loans to related Parties 116,980 (116,971) - 9 Trade receivables 30,444 (428) - 30,016 Cash and cash equivalents 64,298 - - 64,298 Bank balances other than cash and cash equivalents 1,228 - - 1,228 Other current financial assets 5,082 (2,756) - 2,326

|606| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Particulars Transferor Companies and its subsidiaries Elimination (1) Adjustments (2) Total Other current assets 49,012 (2) - 49,010 Total Assets 1,990,300 (128,476) (8,472) 1,853,352 EQUITY AND LIABILITIES Equity Equity share capital 41,223 (8,156) - 33,067 Other equity 981,704 (48) 17,804 999,460 Total equity 1,022,927 (8,204) 17,804 1,032,527 Liabilities Long term borrowings 498,421 (6,250) - 492,171 Other non-current financial liabilities 8,896 (113) - 8,783 Long term provisions 1,448 - - 1,448 Other non-current liabilities 944 (96) - 848 Short term borrowings 181,854 (110,608) - 71,246 Trade payables 63,485 (2,623) (1,936) 58,926 Other current financial liabilities 134,121 (557) - 133,564 Other current liabilities 76,454 (25) (24,340) 52,089 Short term provisions 1,750 - - 1,750 Total liabilities 967,373 (120,272) (26,276) 820,825 Total Equity and Liabilities 1,990,300 (128,476) (8,472) 1,853,352 (1) Represents elimination between Transferor Company 1, Transferor Company 2 and its subsidiaries. (2) Effects of alignment of accounting policies and practices, transaction between Transferor Companies and the Company. With the amalgamation of the Transferor Companies as mentioned above, entities which were subsidiaries and joint venture of the Transferor Companies became the subsidiaries and joint venture of the Transferee Company resulting in the carrying values of assets, liabilities and equity of each of the subsidiary and joint venture entities to form part of the consolidated financial statements of the Company. B) Details of other equity on amalgamation of Transferor Company 1 and Transferor Company 2 and its subsidiaries and joint venture Particulars Capital reserve Capital reduction reserve Securities premium Amalgamation adjustment deficit account(1) General reserve Retained earnings Total Reserve of Transferor Companies and its subsidiaries 165 277,787 842,139 - 1,393 (139,828) 981,656 Alignment of accounting policies and practices - - - - - 17,804 17,804 Investment of Transferor Company 2 into Transferor Company 1 - - - (477,723) - - (477,723) Difference between share capital of Transferor Companies and share capital issued by Transferee Company - - - (10,685) - - (10,685) Total 165 277,787 842,139 (488,408) 1,393 (122,024) 511,052

|607| Chap. 23 – Ind AS 103 – Business Combinations 1) On amalgamation, the effect of cancellation of investment of Transferor Company 2 into Transferor Company 1 of ` 477,723 Mn, and difference between share capital of Transferor Companies of ` 33,067 Mn and shares issued by the Company of ` 43,752 Mn to the shareholders of the Transferor Companies have resulted into creation of the amalgamation adjustment deficit account being debit balance in accordance with the guidance given under education material on Ind-AS 103 issued by The Institute of Chartered Accountants of India. C) Further, the Implementation Agreement entered between the parties defines a settlement mechanism between the Company and VInL shareholders for any cash inflow/outflow that could possibly arise from the settlement of certain outstanding disputes pertaining to period until May 31, 2018. Accordingly, VIL has recorded net indemnity liability of ` 83,923 Mn, of which ` 85,015 Mn is recorded through capital reserve, on merger. The liability has been disclosed as other non-current financial liability. The settlement of this indemnity liability would happen periodically as defined in the Agreement starting from June 2020 and will not extend beyond June 2025. In the event such disputed matters do not finally result in cash inflows/outflows within the indemnity period, there would be no settlement to/from the erstwhile VInL shareholders by/to the Company. The settlement between the Company and VInL shareholders for any cash inflow/outflow that could possibly arise shall be subject to RBI approval, if any, which would be evaluated/ obtained at the time of actual settlement with VInL shareholders. 4. The Group has incurred a net loss for the year ended March 31, 2019 of ` 146,039 Mn (year ended March 31, 2018 ` 41,682 Mn) and has a negative working capital as at March 31, 2019 of ` 359,520 Mn (March 31, 2018 ` 14,500 Mn). The borrowings including interest thereon repayable during next twelve month period ending March 31, 2020 is ` 333,079 Mn. This includes gross borrowings of ` 102,802 Mn reclassified from long term to short term as the Group was not able to meet certain financial ratios, which the Group is confident will not result in any accelerated payment (refer note 25(b)). In addition, the Group expects to incur capital expenditure to achieve its planned business growth as per its approved business plan. Subsequent to the year end, the Group has raised an amount aggregating ` 249,998 Mn by way of a rights issue from existing eligible equity shareholders, including promoter contribution of ` 179,207 Mn. On this basis, the Group believes that the capital infusion as mentioned above, existing cash and cash equivalents (including current investments) of ` 75,516 Mn as at March 31, 2019, expected cash flow from sale of certain non-current investments and cash from operations over the next 12 months is sufficient for scheduled debt repayments, including interest, capital expenditure payouts and other working capital requirements of the Group for the next twelve months. These financial statements have therefore on a going concern basis. 24. WIPRO LIMITED a) Business combination Business combinations are accounted for using the purchase (acquisition) method. The cost of an acquisition is measured as the fair value of the assets transferred, liabilities incurred or assumed, and equity instruments issued at the date of exchange by the Company. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at fair value at the date of acquisition. Transaction costs incurred in connection with a business acquisition are expensed as incurred. The cost of an acquisition also includes the fair value of any contingent consideration measured as at the date of acquisition. Any subsequent changes to the fair value of contingent consideration classified as liabilities, other than measurement period adjustments, are recognised in the consolidated statement of profit and loss. b) Goodwill The excess of the cost of an acquisition over the Company’s share in the fair value of the acquiree’s identifiable assets, liabilities and contingent liabilities is recognised as goodwill. If the excess is negative, a bargain purchase gain is recognised in equity as capital reserve. Goodwill is measured at cost less accumulated impairment (if any). Goodwill associated with disposal of an operation that is part of cashgenerating unit is measured on the basis of the relative values of the operation disposed of and the portion of the cash-generating unit retained, unless some other method better reflects the goodwill associated with the operation disposed of.

|608| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts c) Intangible assets Intangible assets acquired separately are measured at cost of acquisition. Intangible assets acquired in a business combination are measured at fair value as at the date of acquisition. Following initial recognition, intangible assets are carried at cost less accumulated amortisation and impairment losses, if any. The amortisation of an intangible asset with a finite useful life reflects the manner in which the economic benefit is expected to be generated and is included in selling and marketing expenses in the consolidated statement of profit and loss. The estimated useful life of amortisable intangibles are reviewed and where appropriate are adjusted, annually. The estimated useful lives of the amortisable intangible assets for the current and comparative periods are as follows: Category Useful life Customer-related intangibles 5 to 15 years Marketing related intangibles 3 to 5 years. ll

|609| Chap. 24 – IND AS 104 – INSURANCE CONTRACTS Chapter 24 IND AS 104 – INSURANCE CONTRACTS 1. CHALET HOTELS LIMITED Accounting Policies Q.2.(b). Financial guarantee contracts: The Company on a case to case basis elects to account for financial guarantee contracts as a financial instruments or as an insurance contracts as specified in Ind AS 109 on Financial Instruments and Ind AS 104 on Insurance contracts. The Company has regarded all its financial guarantee contracts as insurance contracts. At the end of each reporting period, the Company performs a liability adequacy test, (i.e. it assesses the likelihood of a payout based on current undiscounted estimates of future cash flows), and any deficiency is recognised in Statement of Profit and Loss. Disclosures Note No. 48 – Financial Instruments – Fair Values and Risk Management: (Extract) *Guarantees issued by the Company on behalf of subsidiaries and associates are with respect to borrowings raised by the respective subsidiary and associates. These amounts will be payable on default by the concerned parties. As of the reporting date, none of the subsidiaries have defaulted and hence, the Company does not have any present obligation to third parties in relation to such guarantees. 2. JSW ENERGY LIMITED Accounting Policies XV. Financial guarantee contracts: The Group on a case to case basis elects to account for financial guarantee contracts as a financial instrument or as an insurance contract, as specified in Ind AS 109 on Financial Instruments and Ind AS 104 on Insurance Contracts. At the end of each reporting period the Group performs a liability adequacy test, (i.e. it assesses the likelihood of a pay-out based on current undiscounted estimates of future cash flows), and any deficiency is recognized in Consolidated Statement of Profit and Loss. Disclosures Note No. 34 – Contingent liabilities and commitments: ( Extract ) Guarantees: The Group has issued following financial guarantees to banks on behalf of and in respect of loan facilities availed by related and other parties: ` crore Particulars As at 31st March, 2019 As at 31st March, 2018 Related parties 200.50 258.50 In respect of financial guarantee contracts, no amounts are recognised based on the results of the liability adequacy test for likely deficiency / defaults by the entities on whose behalf the Group has given guarantees. The amount have been reflected corresponding to the outstanding loan amount.

|610| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts 3. SHOPPERS STOP LIMITED Accounting Policies 2.8.2 Financial guarantee contracts: The Group on a case to case basis elects to account for financial guarantee contracts as a financial instrument or as an insurance contract, as specified in Ind AS 109 on Financial Instruments and Ind AS 104 on Insurance Contracts. The Group has regarded all its financial guarantee contracts as insurance contracts. At the end of each reporting period the Group performs a liability adequacy test, (i.e. it assesses the likelihood of a pay-out based on current undiscounted estimates of future cash flows), and any deficiency is recognised in profit or loss. Disclosures 38. Financial Instruments (Extract) B. Financial risk management c) Liquidity Risk: In respect of financial guarantee contracts, no amounts are recognised based on the results of the liability adequacy test for likely deficiency / defaults by the entities on whose behalf the Group has given guarantees, grounded on the Group’s actual experience. 4. VEDANTA LIMITED Accounting Policies (J) Financial guarantees Financial guarantees issued by the Group on behalf of related parties are designated as ‘Insurance Contracts’. The Group assesses at the end of each reporting period whether its recognised insurance liabilities (if any) are adequate, using current estimates of future cash flows under its insurance contracts. If that assessment shows that the carrying amount of its insurance liabilities is inadequate in the light of the estimated future cash flows, the entire deficiency is recognised in consolidated statement of profit and loss. ll

|611| Chap. 25 – Ind AS 105- ‘Non-current Assets Held for Sale and Discontinued Operations’ Chapter 25 Ind AS 105 – ‘Non-current Assets Held for Sale and Discontinued Operations’ 1. ADANI POWER LIMITED Non-Current Assets held for sale and discontinued operations – IND AS 105 Non-current assets are classified as held for sale if their carrying amount will be recovered through a sale transaction rather than through continuing use. This condition is regarded as met only when the asset is available for immediate sale in its present condition and the sale is highly probable. Management must be committed to the sale which should be expected to qualify for recognition as a completed sale within one year from the date of classification. Non-current assets classified as held for sale are measured at the lower of their carrying amount and their fair value less costs to sell. Disclosures 17 Assets Classified as held for sale As at 31st March, 2019 As at 31st March, 2018 As at 1st April, 2017 Assets Classified as held for sale 4.20 - - Total 4.20 - - Note : i) Assets held for sale represents capital inventory of ` 2.75 Crores and property plant and equipment of ` 1.45 Crores, pending disposal recognised at net realisable value. 2. AMBUJA CEMENTS LIMITED Accounting Policies Q. Non-current assets held for sale The Group classifies non-current assets as held for sale if their carrying amounts will be recovered principally through sale rather than through continuing use and the sale is highly probable. Management must be committed to the sale, which should be expected within one year from the date of classification. For these purposes, sale transactions include exchanges of non-current assets for other non-current assets when the exchange has commercial substance. The criteria for held for sale classification is regarded as met only when the asset is available for immediate sale in its present condition, subject only to terms that are usual and customary for sales of such assets, its sale is highly probable; and it will genuinely be sold, not abandoned. The Group treats sale of the asset to be highly probable when: I. The appropriate level of management is committed to a plan to sell the asset, II. An active programme to locate a buyer and complete the plan has been initiated (if applicable), III. The asset is being actively marketed for sale at a price that is reasonable in relation to its current fair value,

|612| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts IV. The sale is expected to qualify for recognition as a completed sale within one year from the date of classification, and V. Actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. Non-current assets held for sale are measured at the lower of their carrying amount and the fair value less costs to sell. Assets and liabilities classified as held for sale are presented separately in the balance sheet. Property, plant and equipment and intangible assets once classified as held for sale are not depreciated or amortised. Gains and losses on disposals of non-current assets are determined by comparing proceeds with carrying amounts, and are recognised in the statement of profit and loss. Disclosures Note 50 - Assets classified as held for sale (Refer Note 3(Q) for accounting policy on Non-current assets held for sale) Particulars 2018 ` in crore 2017 ` in crore Plant and equipment (i) 6.44 7.75 Building (ii) 5.11 5.39 Total 11.55 13.14 i) The Group intends to dispose off plant and equipment in the next 12 months which it no longer intends to utilise. It was previously used in its manufacturing facility at plants. A selection of potential buyers is underway. No impairment loss was recognised on reclassification of the plant and equipment as held for sale and the Group expects the fair value less cost to sell to be higher than carrying amount. ii) The Group intends to dispose off building (mainly residential flats) in the next 12 months which it no longer intends to utilise. These were previously used for residential purpose. A selection of potential buyers is underway. Impairment loss of ` 0.28 crore (previous year - ` 0.28 crore) is recognised in the consolidated statement of profit and loss under other expenses. 3. BHARAT PETROLEUM CORPORATION LIMITED I. Non-current assets are classified as held for sale if their carrying amounts will be recovered through a sale transaction rather than through continuing use. This condition is regarded as met only when the sale is highly probable and the asset is available for immediate sale in its present condition subject only to terms that are usual and customary for sale of such assets. II. Non-current assets classified as held for sale are measured at the lower of carrying amount and fair value less costs to sell. III. The disposal Group classified as held for sale, are measured at the lower of carrying amount and fair value less costs to sell. IV. Property, plant and equipment and intangible assets classified as held for sale are not depreciated or amortized. NOTE 22 ASSETS HELD FOR SALE (CONSOLIDATED) ` in Crores Particulars As at 31/03/2019 As at 31/03/2018 Assets Held for Sale * 13.78 18.10 13.78 18.10

|613| Chap. 25 – Ind AS 105- ‘Non-current Assets Held for Sale and Discontinued Operations’ *Non-current assets held for sale consists of items such as Plant and equipment, Dispensing pumps etc. which have been identified for disposal due to replacement/ obsolescence of assets which happens in the normal course of business. These assets are expected to be disposed off within the next twelve months. On account of re-classification of these assets, an impairment loss of ` 7.67 Crores during the year (Previous year: ` 26.72 Crores) has been recognised in the statement of profit and loss in respect of the corporation. 4. CHAMBAL FERTILISERS AND CHEMICALS LIMITED vi) Non-current assets held for sale and discontinued operations Non-current assets (or disposal groups) are classified as held for sale if their carrying amount will be recovered principally through a sale transaction rather than through continuing use. The criteria for held for sale is regarded met only when the assets is available for immediate sale in its present condition, subject only to terms that are usual and customary for sale of such assets, its sale is highly probable; and it will genuinely be sold, not abandoned. Non-current assets held for sale are measured at the lower of their carrying amount and fair value less costs to sell, except for assets such as deferred tax assets, assets arising from employee benefits, financial assets and contractual rights under insurance contracts, which are specifically exempt from this requirement. An impairment loss is recognised for any initial or subsequent write-down of the asset (or disposal group) to fair value less costs to sell. A gain is recognised for any subsequent increases in fair value less costs to sell of an asset (or disposal group), but not in excess of any cumulative impairment loss previously recognised. A gain or loss not previously recognised by the date of the sale of the non-current asset (or disposal group) is recognised at the date of de-recognition. Property, plant and equipment and intangible assets once classified as held for sale are not depreciated or amortised. Discontinued operations is a component of an entity that either has been disposed of, or is classified as held for sale, and: - represents a separate major line of business or geographical area of operations, - is part of a single co-ordinated plan to dispose of a separate major line of business or geographical area of operations. Non-current assets classified as held for sale and the assets of a disposal group classified as held for sale are presented separately from the other assets in the balance sheet. The liabilities of a disposal group classified as held for sale are presented separately from other liabilities in the balance sheet. 5. COLGATE PALMOLIVE INDIA LIMITED Non-Current Assets held for sale and discontinued operations – IND AS 105 Assets are classified as held for sale if their carrying amount will be recovered principally through a sale transaction rather than through continuing use, a sale is considered highly probable and is expected to qualify for recognition as a completed sale within one year from the date of classification. They are measured at the lower of their carrying amount and fair value less costs to sell except for assets such as deferred tax assets, assets arising from employee benefits financial assets and contractual rights under insurance contracts, which are specifically exempt from this requirement. An impairment loss is recognised for any initial or subsequent write-down of the asset to fair value less costs to sell. A gain is recognised for any subsequent increases in fair value less costs to sell of an asset, but not in excess of any cumulative impairment loss previously recognised. A gain or loss not previously recognised by the date of the sale of the non-current asset (or disposal group) is recognised at the date of de-recognition. Assets are not depreciated or amortised while they are classified as held for sale. Interest and other expenses attributable to the liabilities of assets held for sale continue to be recognized. Assets classified as held for

|614| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts sale are presented separately from the other assets0020in the balance sheet under “Other Current Assets”. The liabilities for assets held for sale are presented separately from other liabilities in the balance sheet. Disclosures Note 44 The toothpowder manufacturing operations at the Aurangabad factory, Waluj, Maharashtra were discontinued effective May 5, 2015. The Company had received approval from the Maharashtra Industrial Development Corporation (MIDC) for transfer of its rights in the aforesaid property in favour of a buyer and the transfer has been completed in the current year. 6. DLF LIMITED The Group classifies non-current assets and disposal groups as held for sale if their carrying amounts will be recovered principally through a sale/ distribution rather than through continuing use. Actions required to complete the sale/ distribution should indicate that it is unlikely that significant changes to the sale will be made or that the decision to sell will be withdrawn. Management must be committed to the sale expected within one year from the date of classification. For these purposes, sale transactions include exchanges of non-current assets for other non-current assets when the exchange has commercial substance. The criteria for held for sale classification is regarded met only when the assets or disposal group is available for immediate sale in its present condition, subject only to terms that are usual and customary for sales/ distribution of such assets (or disposal groups), its sale is highly probable; and it will genuinely be sold, not abandoned. The group treats sale of the asset or disposal group to be highly probable when: • The appropriate level of management is committed to a plan to sell the asset, • An active programme to locate a buyer and complete the plan has been initiated, • The asset (or disposal group) is being actively marketed for sale at a price that is reasonable in relation to its current fair value, • The sale is expected to qualify for recognition as a completed sale within one year from the date of classification, and • Actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. • Non-current assets held for sale/ for distribution to owners and disposal groups are measured at the lower of their carrying amount and the fair value less costs to sell. Assets and liabilities classified as held for sale are presented separately in the balance sheet. Property, plant and equipment, investment property and intangible assets once classified as held for sale to owners are not depreciated or amortised 57. During the year and during immediately preceding year, Board of Directors of the Company and one of its subsidiary company have given in principal approval for disposal of certain Investment Property and Investment in certain subsidiary companies which are in the business of real estate development. Disposal of these non-current assets by way of sale of Assets/ sale of investment is expected to be executed within next one year. In accordance with Ind AS 105 “Non-Current Assets Held For Sale and Discontinued Operations”, certain assets and liabilities directly associated with certain entities of the Group have been classified as ‘Held for sale’ as the carrying amounts of such assets and liabilities undertaking will be recovered principally through sales transaction rather than continuing use. The Disposal Group has been recognized and measured at carrying amount as the management believes that fair value of consideration will be more than the carrying amount.

|615| Chap. 25 – Ind AS 105- ‘Non-current Assets Held for Sale and Discontinued Operations’ The details of assets held for sale and liabilities associated thereto as at 31 March 2019 are as under: (` in lakhs) 31 March 2019 Particulars DLF Info City Hyderabad Limited DLF Info City Chennai Limited DLF Limited Paliwal Real Estate Limited DLF Land India Limited Total Property, Plant and Equipment - 0.33 - - - 0.33 Investment Property 6,869.67 21,142.92 215,811.33 - - 243,823.92 Investments - 170.35 - - - 170.35 Long-term loans 629.13 1,727.04 - - - 2,356.17 Deferred tax assets (net) 653.80 15.07 - - - 668.87 Other non-current assets 2,000.00 146.77 - - 0.10 2,146.87 Inventories 2,933.87 665.80 - - 6,551.17 10,150.84 Trade receivables 21.35 - - - - 21.35 Cash and cash equivalents 145.27 42.61 - 35.61 37.94 261.43 Other Bank Balances 4.87 278.35 - - - 283.22 Other Financial assets - 486.96 - 0.08 - 487.04 Assets for Current tax - - - 0.85 - 0.85 Other current assets 386.71 2,264.45 - - - 2,651.16 Total Assets 13,644.67 26,940.65 215,811.33 36.54 6,589.21 263,022.40 Trade payables 84.82 652.23 - 2.34 0.25 739.64 Other Financial Liabilities 752.55 179.64 - - - 932.19 Liabilities for Current tax - 3,777.97 - - - 3,777.97 Other current liabilities 0.06 8,817.71 - 2.19 13.57 8,833.53 Total Liabilities 837.43 13,427.54 - 4.53 13.82 14,283.33 The details of assets held for sale and liabilities associated thereto as at 31 March 2018 are as under: (` in lakhs) 31 March 2018 Particulars DLF Commercial Developers Limited DLF Home Developers Limited Total Group of assets classified as held for sale Property, plant and equipment - 0.61 0.61 Investment Property 6,869.67 9,139.52 16,009.19 Investments - 73.09 73.09 Loans 596.41 2,041.61 2,638.02 Deferred tax assets - 15.07 15.07 Other non-current assets 2,000.00 206.87 2,206.87 Inventories 2,316.42 7,177.07 9,493.49 Trade receivables 181.64 - 181.64

|616| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts 31 March 2018 Particulars DLF Commercial Developers Limited DLF Home Developers Limited Total Cash and cash equivalents - 74.25 74.25 Other bank balances 118.14 270.71 388.85 Other financial assets - 14,804.88 14,804.88 Other current assets 166.55 3,986.69 4,153.24 Total 12,248.83 37,790.37 50,039.20 Liabilities associated with group of assets classified as held for sale Trade payables 71.63 5,134.59 5,206.22 Other financial liabilities - 282.00 282.00 Other current liabilities 172.20 - 172.20 Total 243.83 5,416.59 5,660.42 7. GMR INFRASTRUCTURE LIMITED The Group classifies non-current assets as held for sale if their carrying amounts will be recovered principally through a sale rather than through continuing use. Actions required to complete the sale should indicate that it is unlikely that significant changes to the sale will be made or that the decision to sell will be withdrawn. Management must be committed to the sale expected within one year from the date of classification. The criteria for held for sale classification is regarded met only when the assets or disposal group is available for immediate sale in its present condition, subject only to terms that are usual and customary for sales of such assets, its sale is highly probable; and it will genuinely be sold, not abandoned. The Group treats sale of the asset to be highly probable when: • The appropriate level of management is committed to a plan to sell the asset, • An active programme to locate a buyer and complete the plan has been initiated, • The asset is being actively marketed for sale at a price that is reasonable in relation to its current fair value, • The sale is expected to qualify for recognition as a completed sale within one year from the date of classification , and • Actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. • Non-current assets held for sale are measured at the lower of their carrying amount and the fair value less costs to sell. Assets and liabilities classified as held for sale are presented separately in the consolidated balance sheet. • Property, plant and equipment and intangible assets once classified as held for sale/ distribution to owners are not depreciated or amortised • A disposal group qualifies as discontinued operation if it is a component of an entity that either has been disposed of, or is classified as held for sale, and: • Represents a separate major line of business or geographical area of operations, • Is part of a single co-ordinated plan to dispose of a separate major line of business or geographical area of operations, Or

|617| Chap. 25 – Ind AS 105- ‘Non-current Assets Held for Sale and Discontinued Operations’ • Is a subsidiary acquired exclusively with a view to resale. • Discontinued operations are excluded from the results of continuing operations and are presented as a single amount as profit or loss after tax from discontinued operations in the consolidated statement of profit and loss. 8. GVK POWER AND INFRASTRUCTURE LIMITED a) Significant Accounting Policies g. Non-current assets held for sale The Group classifies non-current assets and disposal groups (group of assets with directly associated liabilities) as held for sale/ distribution to owners if their carrying amounts will be recovered principally through a sale/ distribution rather than through continuing use. Non-current assets and disposal groups as held for sale/ distribution are sold /distributed within one year from the date of classification. Non-current assets held and disposal groups for sale/ distribution to owners are measured at the lower of their carrying amount and the fair value less costs to sell/ distribute. Assets and liabilities classified as held for sale/ distribution are presented separately in the balance sheet. Property, plant and equipment once classified as held for sale/ distribution to owners are not depreciated or amortised. b) Notes to Accounts 61. Assets held for sale GVK Airport Holdings Limited (GVKAHL) is a step down wholly owned subsidiary of the Company and holding company of Mumbai Inter- national Airport Limited (MIAL) with a shareholding of 50.5%. Management has been looking for certain divestment options in the airport vertical i.e., in GVKAHL. During the course of divestment process the management has obtained bids for diluting the shareholding in Air- port Vertical and started discussions with one of the parties. During the current year, GVKPIL group management has obtained approval from the shareholders for raising funds by divesting its share in GVKAHL (Airport vertical). The management was able to sign a term sheet with a potential investor during April 2019. The company is still under discussion on the terms and conditions of the transaction as at March 31, 2019 and has not reached a defin- itive stage about the terms and conditions that would entail the Firm Purchase Contract. Also, shares of the Airport vertical are pledged with various lenders and management is yet to receive approval from lenders with whom the shares are pledged. As a part of the divest- ment process, management has noted that there are certain other significant approvals from Ministry of Civil Aviation, Airport Authority of India and other approvals as necessary are to be received. The management does not have a reliable estimate on the time period in which the Firm Purchase Contract can be signed off. Based on the above factors, management has evaluated the criteria as per Ind AS 105, Non-current Assets Held for Sale and Discontinued Operations, and is of the view that the Airport vertical should not be considered as “Held for sale” asset at this stage. 9. HINDUSTAN UNILEVER LIMITED Non-Current Assets held for sale and discontinued operations – IND AS 105 Non-current assets or disposal groups comprising of assets and liabilities are classified as ‘held for sale’ when all the following criteria are met: (i) Decision has been made to sell. (ii) The assets are available for immediate sale in its present condition. (iii) The assets are being actively marketed and (iv) Sale has been agreed or is expected to be concluded within 12 months of the Balance Sheet date.

|618| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Subsequently, such non-current assets and disposal groups classified as ‘held for sale’ are measured at the lower of its carrying value and fair value less costs to sell. Non-current assets held for sale are not depreciated or amortised. Disclosures NOTE 16 : ASSETS HELD FOR SALE Refer Note 2.4 (f) for accounting policy on Assets Held for Sale. (` in crores) As at 31st March, 2019 As at 31st March, 2018 Groups of assets held for sale Freehold Land 1 2 Buildings 3 6 Plant and equipment - 8 Furniture and fixtures 0 0 Vehicles - 0 Office equipment - 0 4 16 Note: During the year the Company has reclassified certain land of ` 1 crore (NBV: ` 1 crore), plant and equipment of ` 11 crores (NBV: ` 9 crores) and building of ` 2 crores (NBV: ``2 crores) to Property, Plant and Equipment. 10. INFO EDGE (INDIA) LIMITED Accounting Policy Non-current assets held for sale Non-current assets are classified as held for sale if their carrying amount will be recovered principally through a sale transaction rather than through continuing use and a sale is considered highly probable. The criteria for held for sale is considered to have met only when the assets is available for immediate sale in its present condition, subject only to terms that are usual and customary for sales of such assets, its sale is highly probable; and it will genuinely be sold, not abandoned. They are measured at the lower of their carrying amount and fair value less costs to sell. An impairment loss is recognised for any initial or subsequent write-down of the asset to fair value less costs to sell. A gain is recognised for any subsequent increases in fair value less costs to sell of an asset, but not in excess of any cumulative impairment loss previously recognised. A gain or loss not previously recognised by the date of the sale of the non-current asset is recognised at the date of de-recognition. Non-current assets are not depreciated or amortised while they are classified as held for sale. Non-current assets classified as held for sale are presented separately from the other assets in the balance sheet.

|619| Chap. 25 – Ind AS 105- ‘Non-current Assets Held for Sale and Discontinued Operations’ Disclosure 8. Assets classified as held for sale Particulars Non-Current Current Non-Current Current As at March 31, 2019 (` Mn) As at March 31, 2019 (` Mn) As at March 31, 2018 (` Mn) As at March 31, 2018 (` Mn) Assets held for sale (Refer note below) - 8.88 - 3,293.03 Total - 8.88 - 3,293.03 Note: i) During the year ended March 31, 2016, one of the Builder - M/s Amrapali Group has partly settled their outstanding of ` 8.88 Mn via transfer of ownership of 3 nos of residential flats in the name of Allcheckdeals India Private Limited. These assets are listed online (real estate ecommerce platform) for sale. Building classified as held for sale during the previous reporting period was measured at the lower of its carrying amount and fair value less costs to sell at the time of reclassification. The fair value of the building was determined using the comparison approach. This is a level 2 measurement as per the fair value hierarchy set up in fair value measurement disclosure. The key input under this approach are price per square feet of comparable residential units in the area of similar location and size. ii) During the year ended March 31,2018, Naukri Internet Services Ltd. (the Seller), a wholly owned subsidiary, has entered into a Share Purchase Agreement with Alipay Singapore Holding Pte. Ltd (the Purchaser) and Info Edge (India) Limited, and Zomato Media Private Limited (‘parties to the Agreement’) dated February 1, 2018 for sale of 32,629 equity shares of Re. 1/- of Zomato Media Private Limited. The sale consideration has been mutually agreed between the purchaser and seller, at fair market value. Subsequent to year end, the transaction was completed. A loss of ` 38.14 Mn was recorded as of the reporting date, on shares subsequently sold and ` 0.85 Mn on shares in hand aggregating to ` 38.99 Mn, based on the difference between carrying value as of the reporting date and mutually agreed sale price. During the year ended March 31,2019 the said shares has been sold and remaining 728 equity shares have been shown as non current investment. 11. LARSEN & TOUBRO LIMITED a) Significant Accounting Policies ac) Non-current assets held for sale Non-current assets and disposal groups are classified as held for sale if their carrying amount is intended to be recovered principally through a sale (rather than through continuing use) when the asset (or disposal group) is available for immediate sale in its present condition subject only to terms that are usual and customary for sale of such asset (or disposal group) and the sale is highly probable and is expected to qualify for recognition as a completed sale within one year from the date of classification. Non-current assets and disposal groups classified as held for sale are measured at lower of their carrying amount and fair value less costs to sell. b) Notes to Accounts NOTE [52] Disclosure pursuant to Ind AS 105 “Non-current Assets Held for Sale and Discontinued Operations”: (a) The Group has following non-current assets/disposal group recognised as held for sale as on March 31, 2019: