Integrated Filing — IndAS

General information about company
Scrip Code	500128
NSE Symbol	ELECTCAST
MSEI Symbol	NA
ISIN	INE086A01029
Name of company	ELECTROSTEEL CASTINGS LIMITED
Type of company	Main Board
Class of security	Equity
Date of start of financial year	01-Apr-2024
Date of end of financial year	31-Mar-2025
Date of board meeting when results were approved	10-May-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange	02-May-2025
Description of presentation currency	INR (in Actuals)
Reporting Type	Quarterly
Reporting Quarter	Fourth quarter
Nature of report standalone or consolidated	Consolidated
Whether results are audited or unaudited for the quarter ended	Audited
Whether results are audited or unaudited for the Year to date for current period ended/year ended	Audited
Segment Reporting	Single segment
Description of single segment	The company operates mainly in one business segment viz. Pipes and all other activities revolve around the main business.
Start date and time of board meeting	10-May-2025   11:30:00
End date and time of board meeting	10-May-2025   15:15:00
Whether cash flow statement is applicable on company	Yes
Type of cash flow statement	Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification	Statement on impact of audit qualification

Financial Results Ind-AS
Particulars		3 months/ 6 months ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
A	Date of start of reporting period	01-Jan-2025	01-Apr-2024
B	Date of end of reporting period	31-Mar-2025	31-Mar-2025
C	Whether results are audited or unaudited	Audited	Audited
D	Nature of report standalone or consolidated	Consolidated	Consolidated
Part I	Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column.
1	Income
	Revenue from operations	17006816000	73199671000
	Other income	386472000	1231111000
	Total income	17393288000	74430782000
2	Expenses
(a)	Cost of materials consumed	8738449000	36443045000
(b)	Purchases of stock-in-trade	463977000	1619229000
(c)	Changes in inventories of finished goods, work-in-progress and stock-in-trade	-942284000	-1965380000
(d)	Employee benefit expense	1427795000	5518685000
(e)	Finance costs	345073000	1607087000
(f)	Depreciation, depletion and amortisation expense	373837000	1420526000
(f)	Other Expenses
1	Other Expenses	5722876000	21226414000
	Total other expenses	5722876000	21226414000
	Total expenses	16129723000	65869606000
3	Total profit before exceptional items and tax	1263565000	8561176000
4	Exceptional items	0	0
5	Total profit before tax	1263565000	8561176000
6	Tax expense
7	Current tax	276387000	2162836000
8	Deferred tax	-695882000	-698788000
9	Total tax expenses	-419495000	1464048000
10	Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement	0	0
11	Net Profit Loss for the period from continuing operations	1683060000	7097128000
12	Profit (loss) from discontinued operations before tax	0	0
13	Tax expense of discontinued operations	0	0
14	Net profit (loss) from discontinued operation after tax	0	0
15	Share of profit (loss) of associates and joint ventures accounted for using equity method	0	0
16	Total profit (loss) for period	1683060000	7097128000
17	Other comprehensive income net of taxes	66989000	-25058000
18	Total Comprehensive Income for the period	1750049000	7072070000
19	Total profit or loss, attributable to
	Profit or loss, attributable to owners of parent	1683132000	7095579000
	Total profit or loss, attributable to non-controlling interests	-72000	-72000
20	Total Comprehensive income for the period attributable to
	Comprehensive income for the period attributable to owners of parent	1750121000	7070521000
	Total comprehensive income for the period attributable to owners of parent non-controlling interests	-72000	1549000
21	Details of equity share capital
	Paid-up equity share capital	618184000	618184000
	Face value of equity share capital	1	1
27	Details of debt securities
22	Reserves excluding revaluation reserve		57197752000
23	Earnings per share
i	Earnings per equity share for continuing operations
	Basic earnings (loss) per share from continuing operations	2.72	11.48
	Diluted earnings (loss) per share from continuing operations	2.72	11.48
ii	Earnings per equity share for discontinued operations
	Basic earnings (loss) per share from discontinued operations	0	0
	Diluted earnings (loss) per share from discontinued operations	0	0
ii	Earnings per equity share
	Basic earnings (loss) per share from continuing and discontinued operations	2.72	11.48
	Diluted earnings (loss) per share from continuing and discontinued operations	2.72	11.48
24	Debt equity ratio
25	Debt service coverage ratio
26	Interest service coverage ratio
27	Disclosure of notes on financial results		6 In terms of the share purchase agreement entered with the shareholders of Singardo International Pte Limited Singardo on September 25 2024 the parent agreed to acquire 9911 of the Equity Shares at a consideration of SGD 6442450 The parent has remitted the entire consideration equivalent to Rs 414897 lakhs on October 07 2024 and on allotment of Equity Shares thereafter on October 22 2024 Singardo has become a wholly owned subsidiary of the parent n nFor the purpose of consolidation as required in terms of the Ind AS 103 Business Combination the parent has carried out fair valuation of the assets and liabilities as per the audited financial statement of Singardo as on October 21 2024 by an independent valuer appointed in this respect and the values so arrived at have been taken into consideration for the purpose of the consolidated financial results of the Group n n7 Subsequent to the balance sheet date the Board of Directors of the parent has recommended a final dividend of Rs 140 per share to be paid on fully paid equity shares in respect of the financial year ended March 31 2025 This equity dividend is subject to approval by the shareholders at the ensuing Annual General Meeting and has not been included as a liability in these consolidated financial results The estimated amount of final dividend to be paid thereof amounts to Rs 865458 lakhs n n8 The figures for the quarters ended March 31 2025 and March 31 2024 are the balancing figures between the audited figures in respect of the full financial year and the year to date figure upto the quarter ended December 31 of the respective years which were subject to limited review by the Statutory Auditors n n9 Previous periods figures have been regroupedrearranged wherever necessary n

Remarks
Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio

Statement of Asset and Liabilities
Particulars		Year ended (dd-mm-yyyy)
Date of start of reporting period		01-Apr-2024
Date of end of reporting period		31-Mar-2025
Whether results are audited or unaudited		Audited
Nature of report standalone or consolidated		Consolidated
	Assets
1	Non-current assets
	Property, plant and equipment	30180687000
	Capital work-in-progress	12488933000
	Investment property	0
	Goodwill	21603000
	Other intangible assets	814364000
	Intangible assets under development	0
	Biological assets other than bearer plants	0
	Investments accounted for using equity method	0
	Non-current financial assets
	Non-current investments	493394000
	Trade receivables, non-current	0
	Loans, non-current	11046000
	Other non-current financial assets	6237233000
	Total non-current financial assets	6741673000
	Deferred tax assets (net)	0
	Other non-current assets	152462000
	Total non-current assets	50399722000
2	Current assets
	Inventories	24639719000
	Current financial asset
	Current investments	958803000
	Trade receivables, current	14827445000
	Cash and cash equivalents	1673531000
	Bank balance other than cash and cash equivalents	382776000
	Loans, current	0
	Other current financial assets	2214755000
	Total current financial assets	20057310000
	Current tax assets (net)	0
	Other current assets	1856409000
	Total current assets	46553438000
3	Non-current assets classified as held for sale	0
4	Regulatory deferral account debit balances and related deferred tax Assets	0
	Total assets	96953160000
	Equity and liabilities
1	Equity
	Equity attributable to owners of parent
	Equity share capital	618184000
	Other equity	57197752000
	Total equity attributable to owners of parent	57815936000
	Non controlling interest	11266000
	Total equity	57827202000
2	Liabilities
	Non-current liabilities
	Non-current financial liabilities
	Borrowings, non-current	2182142000
	Trade payables, non-current
	(A) Total outstanding dues of micro enterprises and small enterprises	0
	(B) Total outstanding dues of creditors other than micro enterprises and small enterprises	0
	Total Trade payable	0
	Other non-current financial liabilities	6082482000
	Total non-current financial liabilities	8264624000
	Provisions, non-current	489869000
	Deferred tax liabilities (net)	2347256000
	Deferred government grants, Non-current	0
	Other non-current liabilities	234386000
	Total non-current liabilities	11336135000
	Current liabilities
	Current financial liabilities
	Borrowings, current	18414678000
	Trade payables, current
	(A) Total outstanding dues of micro enterprises and small enterprises	160400000
	(B) Total outstanding dues of creditors other than micro enterprises and small enterprises	5404816000
	Total Trade payable	5565216000
	Other current financial liabilities	978145000
	Total current financial liabilities	24958039000
	Other current liabilities	2426995000
	Provisions, current	316735000
	Current tax liabilities (Net)	88054000
	Deferred government grants, Current	0
	Total current liabilities	27789823000
3	Liabilities directly associated with assets in disposal group classified as held for sale	0
4	Regulatory deferral account credit balances and related deferred tax liability	0
	Total liabilities	39125958000
	Total equity and liabilites	96953160000
	Disclosure of notes on assets and liabilities	Textual Information(1)

Text Block

Textual Information(1)

Other explanatory Notes for preparing XBRL n n n1 Other intangible assets of Rs 814364 lakhs is inclusive of Right of Use assets of Rs 771603 lakhs n n2 Other non current assets of Rs 152462 lakhs is inclusive of Noncurrent tax assets Net Rs 79576 lakhs n n3 Other noncurrent financial liabilities of Rs 6082482 lakhs is inclusive of Non current lease liabilities of Rs 488453 lakhs n n4 Other non current liabilities of Rs 234386 lakhs is inclusive of Noncurrent Tax Liabilities Net of Rs 196979 lakhs n n5 Other current financial liabilities of Rs 978145 lakhs is inclusive of current lease liabilities of Rs 169257 lakhs

Format for Reporting Segmenet wise Revenue, Results and Capital Employed along with the company results
Particulars		3 months/ 6 month ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period		01-Jan-2025	01-Apr-2024
Date of end of reporting period		31-Mar-2025	31-Mar-2025
Whether accounts are audited or unaudited		Audited	Audited
Nature of report standalone or consolidated		Consolidated	Consolidated
1	Segment Revenue (Income)
	(net sale/income from each segment should be disclosed)
	Total Segment Revenue
	Less: Inter segment revenue
	Revenue from operations
2	Segment Result
	Profit (+) / Loss (-) before tax and interest from each segment
	Total Profit before tax
	i. Finance cost
	ii. Other Unallocable Expenditure net off Unallocable income
	Profit before tax
3	(Segment Asset - Segment Liabilities)
	Segment Asset
	Total Segment Asset
	Un-allocable Assets	null	null
	Net Segment Asset	null	null
4	Segment Liabilities
	Segment Liabilities
	Total Segment Liabilities
	Un-allocable Liabilities	null	null
	Net Segment Liabilities	null	null
	Disclosure of notes on segments

Other Comprehensive Income
Particulars		3 months/ 6 months ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
A	Date of start of reporting period	01-Jan-2025	01-Apr-2024
B	Date of end of reporting period	31-Mar-2025	31-Mar-2025
C	Whether results are audited or unaudited	Audited	Audited
D	Nature of report standalone or consolidated	Consolidated	Consolidated
	Other comprehensive income [Abstract]
1	Amount of items that will not be reclassified to profit and loss
1	Remeasurements of the defined benefit plans	-20086000	-11831000
2	Equity instruments through other comprehensive income	12000	-103143000
	Total Amount of items that will not be reclassified to profit and loss	-20074000	-114974000
2	Income tax relating to items that will not be reclassified to profit or loss	-5093000	-2888000
3	Amount of items that will be reclassified to profit and loss
1	Foreign currency translation differences	81970000	87028000
	Total Amount of items that will be reclassified to profit and loss	81970000	87028000
4	Income tax relating to items that will be reclassified to profit or loss	0	0
5	Total Other comprehensive income	66989000	-25058000

Cash flow statement, indirect
Particulars				Year ended (dd-mm-yyyy)
A	Date of start of reporting period			2024-04-01
B	Date of end of reporting period			2025-03-31
C	Whether results are audited or unaudited			Audited
D	Nature of report standalone or consolidated			Consolidated
Part I	Blue color marked fields are non-mandatory.
	Statement of cash flows
	Cash flows from used in operating activities
	Profit before tax			8561176000
	Adjustments for reconcile profit (loss)
	Adjustments for finance costs			1607087000
	Adjustments for decrease (increase) in inventories			-1635102000
	Adjustments for decrease (increase) in trade receivables, current			-1082369000
	Adjustments for decrease (increase) in trade receivables, non-current			0
	Adjustments for decrease (increase) in other current assets			-84364000
	Adjustments for decrease (increase) in other non-current assets			0
	Adjustments for other financial assets, non-current			0
	Adjustments for other financial assets, current			0
	Adjustments for other bank balances			0
	Adjustments for increase (decrease) in trade payables, current			-984971000
	Adjustments for increase (decrease) in trade payables, non-current			0
	Adjustments for increase (decrease) in other current liabilities			0
	Adjustments for increase (decrease) in other non-current liabilities			0
	Adjustments for depreciation and amortisation expense			1420526000
	Adjustments for impairment loss reversal of impairment loss recognised in profit or loss			0
	Adjustments for provisions, current			0
	Adjustments for provisions, non-current			0
	Adjustments for other financial liabilities, current			0
	Adjustments for other financial liabilities, non-current			0
	Adjustments for unrealised foreign exchange losses gains			-89337000
	Adjustments for dividend income			0
	Adjustments for interest income			571618000
	Adjustments for share-based payments			0
	Adjustments for fair value losses (gains)			-32283000
	Adjustments for undistributed profits of associates			0
	Other adjustments for which cash effects are investing or financing cash flow			0
	Other adjustments to reconcile profit (loss)			0
	Other adjustments for non-cash items			-100265000
	Share of profit and loss from partnership firm or association of persons or limited liability partnerships			0
	Total adjustments for reconcile profit (loss)			-1552696000
	Net cash flows from (used in) operations			7008480000
	Dividends received			0
	Interest paid			0
	Interest received			0
	Income taxes paid (refund)			2204020000
	Other inflows (outflows) of cash			0
	Net cash flows from (used in) operating activities			4804460000
	Cash flows from used in investing activities
	Cash flows from losing control of subsidiaries or other businesses			0
	Cash flows used in obtaining control of subsidiaries or other businesses			0
	Other cash receipts from sales of equity or debt instruments of other entities			0
	Other cash payments to acquire equity or debt instruments of other entities			0
	Other cash receipts from sales of interests in joint ventures			0
	Other cash payments to acquire interests in joint ventures			0
	Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships			0
	Cash payment for investment in partnership firm or association of persons or limited liability partnerships			0
	Proceeds from sales of property, plant and equipment			36469000
	Purchase of property, plant and equipment			2776527000
	Proceeds from sales of investment property			39183465000
	Purchase of investment property			38972968000
	Proceeds from sales of intangible assets			0
	Purchase of intangible assets			0
	Proceeds from sales of intangible assets under development			0
	Purchase of intangible assets under development			0
	Proceeds from sales of goodwill			0
	Purchase of goodwill			0
	Proceeds from biological assets other than bearer plants			0
	Purchase of biological assets other than bearer plants			0
	Proceeds from government grants			0
	Proceeds from sales of other long-term assets			0
	Purchase of other long-term assets			0
	Cash advances and loans made to other parties			0
	Cash receipts from repayment of advances and loans made to other parties			0
	Cash payments for future contracts, forward contracts, option contracts and swap contracts			0
	Cash receipts from future contracts, forward contracts, option contracts and swap contracts			0
	Dividends received			0
	Interest received			276658000
	Income taxes paid (refund)			0
	Other inflows (outflows) of cash			833859000
	Net cash flows from (used in) investing activities	-1419044000
	Cash flows from used in financing activities
	Proceeds from changes in ownership interests in subsidiaries			0
	Payments from changes in ownership interests in subsidiaries			0
	Proceeds from issuing shares			0
	Proceeds from issuing other equity instruments			0
	Payments to acquire or redeem entity's shares			0
	Payments of other equity instruments			0
	Proceeds from exercise of stock options			0
	Proceeds from issuing debentures notes bonds etc			0
	Proceeds from borrowings			0
	Repayments of borrowings			2283312000
	Payments of lease liabilities			54001000
	Dividends paid			556366000
	Interest paid			1644336000
	Income taxes paid (refund)			0
	Other inflows (outflows) of cash			-5949000
	Net cash flows from (used in) financing activities			-4543964000
	Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes			-1158548000
	Effect of exchange rate changes on cash and cash equivalents
	Effect of exchange rate changes on cash and cash equivalents			0
	Net increase (decrease) in cash and cash equivalents			-1158548000
	Cash and cash equivalents cash flow statement at beginning of period			2832079000
	Cash and cash equivalents cash flow statement at end of period			1673531000

Audit qualification
Sr.	Details of Audit Qualification	Type of Audit Qualification	Frequency of qualification	For Audit Qualification(s) where the impact is quantified by the auditor	For Audit Qualification(s) where the impact is not quantified by the auditor
				Management's Views	(i) Management's estimation on the impact of audit qualification	(ii) If management is unable to estimate the impact, reasons for the same	Auditors' Comments on (i) or (ii) above
1	Textual Information(1)	Qualified opinion	Repetitive	Textual Information(2)	Textual Information(3)	Textual Information(4)	Textual Information(5)
2	Textual Information(6)	Qualified opinion	Repetitive	Textual Information(7)	Textual Information(8)	Textual Information(9)	Textual Information(10)

Text Block
Textual Information(1)	Note no 3 regarding cancellation of coal block allotted to the parent in earlier year and adjustments to be given effect to in respect of the claims made by the parent amount awarded so far in this respect and required disclosures adjustments in terms of Ind AS with respect to the carrying amounts of the property plant and equipment capital work in progress inventory and balances lying under other heads of account and carried forward pending determination of the amount of claim in this respect due to the reasons stated therein n nPending finalization of the matters dealt with in above impacts thereof are presently not ascertainable and as such cannot be commented upon by us
Textual Information(2)	Not Applicable
Textual Information(3)	Not Applicable
Textual Information(4)	In pursuance of the Order dated September 24 2014 issued by the Honble Supreme Court of India the Order followed by the Ordinance promulgated by the Government of India Ministry of Law Justice legislative department dated October 21 2014 Ordinance for implementing the Order allotment of Parbatpur coal block coal blockmines to the Parent which was under advanced stage of implementation had been cancelled wef April 01 2015 In terms of the Ordinance the parent was allowed to continue the operations in the said coal block till March 31 2015 Accordingly the said coal block had been handed over to Bharat Coking Coal Limited BCCL as per the direction from Coal India Limited CIL with effect from April 01 2015 and the same was thereafter allotted to Steel Authority of India Limited SAIL and pending final determination compensation of Rs 831214 lakhs was received The parent also came to understand that SAIL subsequently handed over back the said coal block to the custody of BCCL n nFollowing a petition filed by the parent the Honble High Court at Delhi had pronounced its judgement on March 09 2017 Accordingly based on the said judgement the parent has so far claimed Rs 15494448 lakhs towards compensation against the said coal block and acceptance of the same is awaited The Nominated Authority appointed for deciding the amount of compensation had upheld its decision of compensation already paid which was set aside by the Honble High Court with a direction to the Nominated Authority to reconsider the same The Nominated authority further passed an order dated November 11 2019 awarding an additional compensation of Rs 18000 lakhs with a further direction to redetermine the value of certain assets by the appropriate authority Subsequently a newly appointed Nominated Authority New Nominated Authority had appointed a valuer to determine the value of those specified assets as per the direction of the Nominated Authority dated November 11 2019 The parent came to understand that valuation report recommending a valuation of total directhard cost for specified assets has been submitted to the New Nominated Authority Moreover the parent had also earlier approached the New Nominated Authority Ministry of Coal Ministry to reconsider the compensation determined by the previous Nominated Authority for land and some other major assets and the final compensation is yet to be decided n nIn the meantime JSW Steel Limited JSW had been declared as successful bidder for Parbatpur Coal Block in 16th Tranche of Auction Under Coal Mines Special Provisions Act 2015 and vesting order dated June 08 2023 was issued by the Ministry of Coal in favour of JSW JSW as being claimed by them took over the physical possession of said coal block and has therefore requested to initiate negotiations for utilization of movable property assets used in coal mining Pending determination of the amount of claim the parent has approached Honble Delhi High Court and the matter is pending as on this date The parents management is actively pursuing to revise and determine the amount of entire compensation for the coal block including mine infrastructure land and all other related assets in terms of Coal Mines Special Provisions Act 2015 read with judgement dated March 09 2017 pronounced by the Honble High Court of Delhi and is taking all the necessary legal and other steps for the same n nPending finalisation of the matter as above n nitRs12888411 lakhs incurred pertaining to the coal block till March 31 2015 after setting off income stocks etc there against as per the accounting policy then followed by the Parent has been continued to be shown as freehold land capital work in progress other fixed assets and other respective heads of account niit Interest and other finance cost for the year ended March 31 2016 against the fund borrowed and other expenses directly attributable in this respect amounting to Rs 951474 lakhs have been considered as other recoverable under current assets and niiitCompensation of Rs 831234 lakhs so far received and net realisationsclaims against sale of assets advances input credits etc amounting to Rs 209004 lakhs have been adjusted Bank guarantee amounting to Rs 92000 has been given against the compensation received n nNecessary disclosures and adjustments arising with respect to above and determination of resultant claim will be given effect to on final acceptancesettlement of the amount thereof n
Textual Information(5)	As stated herein above the impact with respect to above and consequential adjustments cannot be ascertained and as such cannot be commented upon by us
Textual Information(6)	Note no 4a in respect of parents investment in the equity shares of ESL Steel Limited ESL the pledge of which was invoked by the lenders of ESL and the same was set aside by Honble High court at Kolkata and the matter is currently pending before the said court Further as stated in Note no 4b dealing with mortgage of Land at Elavur plant in favour of one of the lenders of ESL who had assigned their rights to another party and symbolic possession of the said land was taken by the said party The matter has been disputed by the parent and as stated in the said note is currently pending before DRAT and Honble Madras High Court n nPending finalization of the matters dealt with in above impacts thereof are presently not ascertainable and as such cannot be commented upon by us
Textual Information(7)	Not Applicable
Textual Information(8)	Not Applicable
Textual Information(9)	In view of approved resolution plan as confirmed by Honble National Company Law Appellate Tribunal NCLAT by its order dated August 10 2018 and pursuant to issuance of additional Equity Shares by ESL Steel Limited ESL for giving impact of the resolution plan ESL had ceased to be an associate of the parent during the quarter ended June 30 2018 To comply with the requirements of Ind AS 109 Financial Instruments the parent had fair valued the investment in ESL and a sum of Rs 5786838 lakhs representing difference between the carrying value of said investment and fair value on the date of change of status was considered as exceptional item in statement of Profit and Loss in the quarter ended June 30 2018 Further in terms of the approved resolution plan advances and trade receivable amounting to Rs 2112170 lakhs receivable from ESL was written off during the quarter ended September 2018 shown as exceptional item in the statement of Profit and Loss n nThe parent Company had elected the option under the said Ind AS to present the subsequent fair value changes of the said investment through Other Comprehensive Income During the year the parent company has fair valued the equity share of ESL and a loss of Rs 103731 lakhs has been accounted for under other comprehensive income n nInvestment in ESL include 17334999 equity shares of Rs 10 each in ESL amounting to Rs 431121 lakhs as on March 31 2025 which were pledged with the consortium of lenders of ESL lenders and the said pledge was not released by the lenders even after the settlement of their debt as per the approved resolution plan as above The notices issued by the lenders for invocation of pledge of parents investment was set aside by the Honble High Court at Calcutta in the earlier year and the parents plea for release of such pledge is pending before the said Honble High Court n nIn the earlier years certain land amounting to Rs 2949358 lakhs of the parent situated at Elavur Tamil Naidu were mortgaged to another lender SREI Infrastructure Finance Limited SREI of ESL and SREI had subsequently assigned its right in the said property to an Asset Reconstruction Company ARC although the claims of the said lender were fully discharged by ESL as per the Resolution Plan approved by Honble National Company Law Tribunal NCLT Kolkata Subsequently the ARC had issued SARAFESI Notice and taken the symbolic possession of the said land The parent had disputed the alleged assignment of the loan by the lender and as directed by the Honble Supreme Court had filed an application before the Debt Recovery Tribunal DRT Chennai for setting aside the SARAFESI actions and release of the title deeds of the land which vide order dated April 08 2022 uploaded on April 27 2022 had been dismissed by DRT On filing the appeal before the Debt Recovery Appellate Tribunal DRAT against the order of DRT DRAT has directed the parent to deposit 50 of the SARAFESI demand ie Rs 2935504 lakhs against which revision application under Article 227 of the Indian Constitution and a Writ Application under Article 226 of Indian Constitution has been filed before Honble Madras High Court and the matter is pending before the said court n nEarlier the ARC had also filed an application before Honble NCLT Cuttack for initiation of Corporate Insolvency and Resolution Process CIRP against the parent which had been decided in the favour of the parent vide NCLT order dated June 24 2022 the Order The said order on being challenged by the ARC has been upheld by Honble National Company Law Appellate Tribunal NCLAT vide its order dated January 24 2024 and thereby the order dismissing the application of ARC by NCLT as above stands valid and effective The judgement of NCLAT has been challenged before the Honble Supreme Court of India which is yet to be decided by the said court n nPending finalization of the matter these assets have been carried forward at their book value n
Textual Information(10)	As stated herein above the impact with respect to above and consequential adjustments cannot be ascertained and as such cannot be commented upon by us