IVC2023-04-012023-06-30 IVC2023-04-012023-06-30in-bse-fin:OneOperatingExpenses01Member IVC2023-04-012023-06-30in-bse-fin:OneOperatingExpenses02Member IVC2023-04-012023-06-30in-bse-fin:OneOperatingExpenses03Member IVC2023-04-012023-06-30in-bse-fin:OneOperatingExpenses04Member IVC2023-06-30 IVC2023-04-012023-06-30in-bse-fin:OneItemsThatWillNotBeReclassifiedToProfitAndLoss01Member iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares 511208 IVC NOTLISTED IL&FS Investment Managers Limited Equity 2023-04-01 2024-03-31 2023-08-14 2023-08-01 INR Lakhs First quarter 2023-08-14 12:00:00 2023-08-14 13:05:00 false Not applicable Single segment Management Fee 2023-04-01 2023-06-30 Unaudited Standalone 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2360000.00 2360000.00 24652000.00 27012000.00 0.00 0.00 0.00 12531000.00 0.00 115000.00 0.00 0.00 0.00 0.00 21029000.00 33675000.00 -6662000.00 0.00 -6662000.00 0.00 255000.00 255000.00 -6917000.00 0.00 0.00 0.00 0.00 -6917000.00 697000.00 -6221000.00 697000.00 0.00 628086000.00 2 -0.02 -0.02 0.00 0.00 -0.02 -0.02 0.00 0.00 0.00 NOTES : (1) The financial results have been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 – Interim Financial Reporting, notified under Section 133 of the Companies Act 2013 read with Companies (Indian Accounting Standards) Rules 2015, as amended from time to time and other accounting principles generally accepted in India (2) The above standalone financial results for the quarter ended June 30, 2023 along-with comparative quarter have been reviewed by the Audit Committee and subsequently approved by the Board of Directors of the Company at their respective meetings held on August 14, 2023 in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The standalone financial results for the quarter ended as on June 30, 2023 have been reviewed by the statutory auditors of the Company (3) As per requirements of Indian Accounting Standard (Ind AS) 108 on ‘Operating Segments’, based on evaluation of financial information for allocation of resources and assessing performance, the Company has identified a single segment i.e. providing asset management services and other related services. As such, there are no separate reportable business or geographical segments as per Ind AS 108 on operating segment (4) The Ministry of Corporate Affairs (MCA), Government of India, has vide its letter dated October 1, 2018 initiated investigation by Serious Fraud Investigation Office (SFIO) against Infrastructure Leasing & Financial Services Limited (IL&FS), the Holding Company and its subsidiaries (including the Company) under Section 212(1) of the Companies Act, 2013. On December 3, 2018, MCA on the directions of the National Company Law Tribunal, Mumbai (NCLT) has impleaded various Group Companies of IL&FS (which includes the Company) as Respondents to the Petition filed by them on October 1, 2018 Further based on another petition of the MCA under Section 130 (1) of the Companies Act, 2013, the NCLT has, on January 1, 2019, ordered re-opening of books of accounts for the past financial year 2012-13 to financial year 2017-18 of ‘IL&FS’ (‘the Ultimate Holding Company’), IL&FS Financial Services Limited (‘IFIN’ a fellow subsidiary) and IL&FS Transportation Networks Limited (‘ITNL’ a fellow subsidiary). While the Company, based on its current understanding, believes that the above would not have a material impact on the financial results, the implications, if any, arising from the aforesaid developments would be known only after the aforesaid matters are concluded and hence are not determinable at this stage (6) The term of most of the 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 the 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 June 30, 2023 will be adequately sufficient to meet the Company's existing and future obligations arising over the next 12 months. Management believes that use of the going concern assumption for preparation of these financial results is appropriate (7) The Board of Directors of the Company at its meeting held on February 14, 2022 approved a Scheme of Amalgamation of its two wholly owned subsidiaries IL&FS Asian Infrastructure Managers Limited and IIML Asset Advisors Limited with the Company, subject to approval of shareholders and/or creditors of the respective companies and necessary regulatory approvals. The Appointed Date for the said Scheme of Amalgamation is scheduled to be April 1, 2022. The Company is in process of filing application for the same with National Company Law Tribunal, Mumbai Legal and Professional expense 2546000.00 Loss on sale of non-current Investment 13420000.00 Other expenses 3255000.00 Rent Expense 1809000.00 0.00 0.00 0.00 0.00 Actuarial Gain of the defined benefit plans 931000.00 931000.00 234000.00 0.00 697000.00