IVC2023-10-012023-12-31 IVC2023-10-012023-12-31 IVC2023-10-012023-12-31in-bse-fin:OneOperatingExpenses01Member IVC2023-10-012023-12-31in-bse-fin:OneOperatingExpenses02Member IVC2023-10-012023-12-31in-bse-fin:OneOperatingExpenses03Member IVC2023-10-012023-12-31in-bse-fin:OneOperatingExpenses04Member IVC2023-10-012023-12-31in-bse-fin:FourOperatingExpenses01Member IVC2023-10-012023-12-31in-bse-fin:FourOperatingExpenses02Member IVC2023-10-012023-12-31in-bse-fin:FourOperatingExpenses03Member IVC2023-10-012023-12-31in-bse-fin:FourOperatingExpenses04Member IVC2023-12-31 IVC2023-12-31 IVC2023-10-012023-12-31in-bse-fin:OneItemsThatWillNotBeReclassifiedToProfitAndLoss01Member IVC2023-10-012023-12-31in-bse-fin:FourItemsThatWillNotBeReclassifiedToProfitAndLoss01Member iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares 511208 IVC NOTLISTED IL&FS Investment Managers Limited Equity 2023-04-01 2024-03-31 2024-02-13 2024-01-09 INR Lakhs Third quarter 2024-02-13 12:00:00 2024-02-13 13:45:00 false Not applicable Single segment Management Fees 2023-10-01 2023-12-31 Unaudited Standalone 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4351000.00 4351000.00 113000.00 4464000.00 0.00 0.00 0.00 13356000.00 0.00 151000.00 0.00 0.00 0.00 0.00 6179000.00 19686000.00 -15222000.00 0.00 -15222000.00 0.00 590000.00 590000.00 -15812000.00 0.00 0.00 0.00 0.00 -15812000.00 385000.00 -15427000.00 -15427000.00 0.00 628085000.00 2 -0.05 -0.05 0.00 0.00 -0.05 -0.05 1) The financial results have been prepared in accordance with the recognition & measurement principles laid down in Ind AS 34 – Interim Financial Reporting, notified under Sec 133 of Companies Act, 2013 read with Companies (Indian Accounting Standards) Rules 2015, as amended from time to time & other accounting principles generally accepted in India 2) The above standalone financial results for quarter & period ended 31-12-2023 along-with comparative quarter have been reviewed by Audit Committee & subsequently approved by Board of Directors of the Company at their respective meetings held on 13-02-2024 in terms of Reg 33 of SEBI LODR Regulations, 2015. The standalone financial results for quarter & period ended as on 31-12-2023 have been reviewed by statutory auditors of the Company 3) As per requirements of Ind AS 108 on ‘Operating Segments’, based on evaluation of financial information for allocation of resources & assessing performance, the Company has identified a single segment i.e. providing asset management services & other related services. As such, there are no separate reportable business or geographical segments as per Ind AS 108 on operating segment 4) The MCA, Government of India, has vide its letter dated 01-10-2018 initiated investigation by SFIO against Infrastructure Leasing & Financial Services Limited (IL&FS), Holding Company & its subsidiaries (including the Company) under Sec 212(1) of Companies Act, 2013. On 03-12-2018, MCA on directions of NCLT Mumbai has impleaded various Group Companies of IL&FS (which includes the Company) as Respondents to the Petition filed by them on 01-10-2018. Further based on another petition of MCA under Sec 130 (1) of Companies Act, 2013, NCLT has, on 01-01-2019, ordered re-opening of books of accounts for past FY 2012-13 to FY 2017-18 of IL&FS ( Ultimate Holding Company), IL&FS Financial Services Limited (a fellow subsidiary) & IL&FS Transportation Networks Limited (a fellow subsidiary). The restatement has been completed. The independent agency entrusted to do such re-opening of books of accounts & restatement for Ultimate Holding Company & one of fellow subsidiary, have confirmed that there is no impact on financial information of the Company. In respect of other fellow subsidiary’s reopening & restatement a similar assertion has been received from the fellow subsidiary 5) The term of most of existing funds being managed/advised by the Company has already been over. Other funds being managed/advised by the company are approaching end of their term in near future which has resulted in significant reduction in Company’s fee revenue. Management expects that its future income from existing funds being managed/advised together with liquid assets held by the Company as at 31-12-2023 will be adequately sufficient to meet the Company's existing & future obligations arising over next 12 months. Management believes that use of going concern assumption for preparation of these financial results is appropriate The IL&FS Board has been working on a resolution plan, with a view to enable value preservation for stakeholders of IL&FS Group. The resolution plan, inter alia, involves sale of assets/businesses/companies owned by IL&FS and in this regard, IL&FS Board has on 21-12-2023 invited a public Expression of Interest (EoI) for sale of its entire stake in the Company 6) The Board of Directors of the Company at its meeting held on 14-02-2022 approved a Scheme of Amalgamation of its two WOS IL&FS Asian Infrastructure Managers Limited & IIML Asset Advisors Limited with the Company, subject to approval of shareholders and/or creditors of respective companies & necessary regulatory approvals. The Appointed Date for said Scheme of Amalgamation is scheduled to be 01-04-2022. The Company has filed an application for same with NCLT Mumbai for which approval is awaited 7) Previous year numbers are regrouped/reclassified wherever necessary Single segment 2023-04-01 2023-12-31 Unaudited Standalone 0.00 0.00 0.00 0.00 0.00 0.00 0.00 12839000.00 12839000.00 34211000.00 47050000.00 0.00 0.00 0.00 39074000.00 0.00 346000.00 0.00 0.00 0.00 0.00 36401000.00 75821000.00 -28771000.00 0.00 -28771000.00 0.00 -4018000.00 -4018000.00 -24753000.00 0.00 0.00 0.00 0.00 -24753000.00 -78000.00 -24831000.00 -24831000.00 0.00 628085000.00 2 -0.08 -0.08 0.00 0.00 -0.08 -0.08 Legal and Professional Expenses 2648000.00 Net loss on sale of non-current Investment 0.00 Other Expenses 1731000.00 Rent Expenses 1800000.00 Legal and Professional Expenses 10167000.00 Net loss on sale of non-current Investment 13420000.00 Other Expenses 7397000.00 Rent Expenses 5417000.00 0.00 0.00 0.00 0.00 Actuarial Gain of the defined benefit plans 515000.00 Actuarial Gain of the defined benefit plans -105000.00 515000.00 -105000.00 130000.00 -27000.00 385000.00 -78000.00