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 IVC2023-04-012023-06-30in-bse-fin:OneItemsThatWillBeReclassifiedToProfitAndLoss01Member 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 Consolidated 0.00 0.00 0.00 0.00 0.00 0.00 0.00 132957000.00 132957000.00 49125000.00 182082000.00 0.00 0.00 0.00 36725000.00 0.00 405000.00 0.00 0.00 0.00 0.00 91141000.00 128271000.00 53811000.00 0.00 53811000.00 17329000.00 5517000.00 22846000.00 30965000.00 0.00 0.00 0.00 -177000.00 30788000.00 -974000.00 29814000.00 16983000.00 13806000.00 -909000.00 -65000.00 628086000.00 2 0.05 0.05 0.00 0.00 0.05 0.05 0.00 0.00 0.00 NOTES : 1) The aforesaid consolidated financial results of IL&FS Investment Managers Limited (the “Holding Company”), its subsidiaries (the Holding Company & its subsidiaries together constitute the “Group”) & jointly controlled entities for the quarter ended June 30, 2023 along-with comparative quarter have been reviewed by Audit Committee and subsequently approved by Board of Directors of the Company at its meeting held on August 14, 2023 in terms of Regulation 33 of the SEBI LODR Regulations, 2015 2) The financial results have been prepared in accordance with the recognition and measurement principles laid down in Ind AS 34 – Interim Financial Reporting, notified under Sec 133 of the Companies Act 2013 read with Companies (Indian Accounting Standards) Rules 2015, as amended from time to time & other accounting principles generally accepted in India 3) As per requirements of Ind AS 108 on ‘Operating Segments’, based on evaluation of financial information for allocation of resources & assessing performance, the Group 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 4) The MCA, Government of India, has vide its letter dated October 1, 2018 initiated investigation by SFIO against IL&FS, the Holding Company & its subsidiaries (including the Group) under Sec 212(1) of the Companies Act, 2013. On December 3, 2018, MCA on the directions of the NCLT has impleaded various Group Companies of IL&FS (which includes the Group) as Respondents to the Petition filed by them on October 1, 2018. Further based on another petition of the MCA under Sec 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 Group, 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 5) The term of most of the existing funds being managed/advised by the Holding Company and few of its subsidiaries has already been over. Other funds being managed/advised by the Holding Company and few of its subsidiaries Group are approaching end of their term in near future which has resulted in significant reduction in such entities fee revenue. Management expects that its future income from existing funds being managed/advised together with liquid assets held by the Group as at June 30, 2023 will be adequately sufficient to meet the Group'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 6) The Board of Directors of the Company at its meeting held on Feb 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 NCLT, Mumbai 7) The financial statements of its subsidiary IIML Fund Managers (Singapore) Pte Ltd and its Joint Ventures IL&FS Milestone Realty Advisors Private Limited and Standard Chartered IL&FS Management (Singapore) Pte Ltd have been prepared on the basis that it does not continue as a going concern Expected Credit Loss arising on Receivables 9935000.00 Legal and Professional expense 42474000.00 Other expenses 34798000.00 Rent expense 3935000.00 0.00 0.00 0.00 0.00 Actuarial Gain of the defined benefit plans 786000.00 786000.00 -117000.00 Gain/(Loss) on Foreign currency translation reserve (net) -1876000.00 -1876000.00 0.00 -974000.00