Page 282 - Arvind 2024

Notes to Consolidated Financial Statements for the year ended 31st March, 2024 (Amount in Rs. Lac, unless stated otherwise)
The following are the amounts recognised in profit or loss:
Depreciation expense of right-of-use assets (Refer Note 3.2) Interest expense on lease liabilities (Refer Note 24)
Expense relating to short-term leases (included in other expenses) Total amount recognised in profit or loss
8.21
8.21 16.22 32.65
Particulars
53.75
March 31, 2023
39.82
15.32
108.89
The Group had total cash outflows for leases of Rs. 67.53in 31 March 2024 (Rs. 11.04 in 31 March 2023). The Group also had non-cash additions to right-of-use assets and lease liabilities of Rs.318.81 Lac in 31 March 2024 (Rs.82.14 in 31 March 2023).
The Group has incurred leasehold improvement cost of Rs. 66.83 Lac which will be amortised over the tenure of lease. ( Refer Note 3.1).
42 The group has migrated to SAP Application software from legacy Farvision software for maintaining its books of account during the year. In respect of SAP Application software, which has a feature of recording audit trail (edit log) facility, the same has operated for all the transactions recorded in the Application except that audit trail feature is not enabled for direct changes to data when using certain access rights to the HANA application. Further there is no instance of audit trail feature being tampered with in respect of the SAP Application accounting software.
In respect of legacy software, Farvision which was operated by a third-party software service provider, Management is not in possession of Service Organization Controls report to determine whether audit trail feature of the said software was enabled and operated throughout the year for all relevant transactions recorded in the software or whether there were any instances of the audit trail feature being tampered with.
43 Events after the reporting period:
The board of directors have proposed dividend after the balance sheet date which are subject to approval by the shareholders at the annual general meeting. Refer Note 13 for details.
44 Other statutory Information:
a The group has availed loans from banks on the basis of security of current assets. The group files statement of current assets with the bank on periodical basis. There are no material discrepancies between the statements filed by the group and the books of accounts of the group.
b The group has not been declared a wilful Defaulters by any bank or financial institution or consortium thereof in accordance with the guidelines on wilful defaulters issued by the RBI.
c There are no proceedings initiated or pending against the group for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder.
d The group has not traded or invested in Crypto currency or Virtual Currency during the reporting periods.
e The group has neither advanced, loaned or invested funds nor received any fund to/from any person or entity for lending or investing or providing guarantee to/on behalf of the ultimate beneficiary during the reporting periods.
f There is no immovable property whose title deed is not held in the name of the group.
g There is no charge or satisfaction of charge which is yet to be registered with ROC beyond the statutory period.
280 | Arvind SmartSpaces Limited
March 31, 2024