Page 10 - 16. COMPILER QB - INDAS 103

(a) Inventories
(b) Financial assets 20.0 20.0
- Trade receivables
- Cash held in functional 20.0 20.0
Currency 4.0 4.5
(c) Other current assets
Non-current asset held for sale 4.0 4.5
TOTAL ASSETS 208
EQUITY AND LIABILITIES:

Equity
(a) Share capital (face value Rs.100) 12.0 50.4
(b) Other equity 141.0 Not applicable
Non-current liabilities
(a) Financial liabilities
- Borrowings 20.0 20.0
Current liabilities
(a) Financial liabilities
- Trade payables 28.0 28.0
(b) Provision for warranties 3.0 3.0
(c) Current tax liabilities 4.0 4.0
TOTAL EQUITY AND LIABILITIES 208.0

Following is the statement of contingent liabilities of S Ltd. as on 1stJanuary, 20X7:
Particulars Fair value (Rs. in crore) Remarks
Lawsuit filed by a customer 0.5 It is not probable that an outflow of
for a claim of resources embodying economic benefits will
Rs. 2 crore be required to settle the claim.
Any amount which would be paid in
respect of lawsuit will be tax deductible.
Income tax demand of Rs. 7 2.0 It is not probable that an outflow of
crore raised by tax authorities; resources embodying economic benefits will
S Ltd. has challenged the be required to settle the claim.
demand in the court.

In relation to the above-mentioned contingent liabilities, S Ltd. has given an indemnification undertaking to H
Ltd. up to a maximum of Rs. 1crore.

Rs. 1 crore represents the acquisition date fair value of the indemnification undertaking.
Any amount which would be received in respect of the above undertaking shall not be taxable.
The tax bases of the assets and liabilities of S Ltd. is equal to their respective carrying values being recognised
in its Balance Sheet.
Carrying value of non-current asset held for sale of Rs. 4 crore represents its fair value less cost to sell in
accordance with the relevant Ind AS.

In consideration of the additional stake purchased by H Ltd. on 1stJanuary, 20X7, it has issued to the selling
shareholders of S Ltd. 1 equity share of H Ltd. for every 2 shares held in S Ltd. Fair value of equity shares of
H Ltd. as on 1st January, 20X7 is Rs. 10,000 per share.
16. 9