annual-report-FY2020

354 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS (b) Financial Instruments measured at amortised cost Rupees crores Particulars Carrying Value Fair value Fair value Level 1 Level 2 Level 3 As at 31 st March, 2020 Financial assets a) Investments.......................................... 1,357.33 1,408.18 1,055.94 352.24 — b) Trade Receivables................................ 7,484.47 7,484.47 — 7,484.47 — c) Financial Services Receivable.............. 72,862.66 72,726.88 — — 72,726.88 d) Security Deposit................................... 412.12 412.12 — 412.12 — e) Other Loans......................................... 2,302.82 2,307.35 — 1,807.30 500.05 f) Fixed Deposit........................................ 467.73 467.73 — 467.73 — Total 84,887.13 84,806.73 1,055.94 10,523.86 73,226.93 Financial liabilities a) Long Term Borrowing......................... 52,298.05 53,444.26 17,734.91 35,709.35 — b) Trade Payable...................................... 14,995.60 14,995.60 — 14,995.60 — c) Short Term Borrowings. ...................... 10,217.53 10,217.53 — 10,217.53 — d) Other Financial Liabilities................... 24,886.94 24,886.94 7,274.68 17,210.37 401.89 Total 1,02,398.12 1,03,544.33 25,009.59 78,132.85 401.89 As at 31 st March, 2019 Financial assets a) Investments.......................................... 1,469.03 1,502.05 793.01 709.04 — b) Trade Receivables................................ 9,292.41 9,292.41 — 9,292.41 — c) Financial Services Receivable.............. 68,937.93 68,530.79 — — 68,530.79 d) Security Deposit................................... 484.02 484.02 — 484.02 — e) Other Loans......................................... 1,606.00 1,606.00 — 1,591.41 14.59 f) Fixed Deposit........................................ 138.58 138.58 — 138.58 — Total 81,927.97 81,553.85 793.01 12,215.46 68,545.38 Financial liabilities a) Long Term Borrowing......................... 43,526.17 43,615.65 18,113.61 25,502.04 — b) Trade Payable...................................... 21,000.10 21,000.10 — 21,000.10 — c) Short Term Borrowings. ...................... 10,541.01 10,541.01 — 10,541.01 — d) Other Financial Liabilities................... 21,602.90 21,602.90 7,490.08 13,806.86 305.96 Total 96,670.18 96,759.66 25,603.69 70,850.01 305.96 There were no transfers between Level 1 and Level 2 during the year. 34. Significant changes in ownership a) Acquisition of subsidiaries Meru Travel Solutions Private Limited (“Meru”) On 05 December 2019, the Group acquired 36.63% stake in the Meru Travel Solutions Private Limited (“Meru”) which is into business of cab aggregation providing ride sharing in major cities of India, for a cash consideration in the form of capital infusion in Meru aggregating to Rs. 44.71 crores . Additionally, there are call and put options to acquire additional stake, the terms of which in substance results in the Group having present access to economic benefits associated with such shareholding held by the non-controlling interest. Hence, in addition to the cash consideration paid, the Group has recognised an obligation of Rs. 69.68 crores to acquire such additional shares. The total purchase price has been preliminary allocated based on management estimates resulting into goodwill of Rs. 71.91 crores . 33. Financial Instruments (contd.): 5. Fair Value Disclosures (contd.)