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<in-bse-fin:DisclosureOfNotesOnFinancialResultsExplanatoryTextBlock contextRef="OneD">1. The standalone financial results of Indraprastha Gas Limited (IGL or the Company) for the quarter and nine months ended 31 December 2019 have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 6 February 2020. The statutory auditors of the Company have carried out a limited review of the aforesaid results.   n  n2. The above results have been prepared in accordance with the Indian Accounting Standards (Ind-AS) as notified under the Companies (Indian Accounting Standards) Rules, 2015 (as amended), specified under section 133 of the Companies Act, 2013.   n  n3. Delhi Development Authority (DDA) had raised a total demand of Rs. 155.64 crores during 2013-14 on account of increase in license fees in respect of sites taken by the Company on lease from DDA for setting up compressed natural gas (CNG) stations in Delhi. The increase in license fees was related to the period 1 April 2007 to 31 March 2014. The Company had filed a writ petition on 11 October 2013 before the Honble High Court of Delhi against the demand raised by DDA as the revised license fees had been increased manifold and made applicable retrospectively from financial year 2007-08. Further, DDA vide communication dated  29 August 2016 had revised the total demand to Rs. 330.73 crores for the period upto 31 March 2016. The same was also reported in the previous periods as a contingent liability.   nThe matter is pending in the Honble High Court of Delhi and the Company is of the view that such demand is not tenable and accordingly, no provision has been made for this aforementioned demand raised by DDA in the books of accounts.  n  n4. The Company has adopted Ind AS 116 Leases effective 1 April 2019, as notified by the Ministry of Corporate Affairs (MCA) in the Companies (Indian Accounting Standard) Amendment Rules, 2019, using modified retrospective method. The adoption of this standard did not have any material impact on the profit of the current period.  n  n5. The Companys business falls within a single segment in terms of the Indian Accounting Standard 108, Operating Segments and hence, no additional disclosures are being furnished</in-bse-fin:DisclosureOfNotesOnFinancialResultsExplanatoryTextBlock>
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