Heritage Foods Limited

Heritage Foods Limited 264 ( c ) Balances receivable/ ( payable ) Particulars As at 31 March 2021 As at 31 March 2020 ( i ) Heritage Finlease Limited Loan proceeds payable (8.14) (29.77) Other receivables 0.24 0.18 ( ii ) Heritage Novandie Foods Private Limited Other receivables 0.36 0.18 Other payables (0.45) (0.45) ( iii ) Nirvana Holdings Private Limited Other receivables 0.05 0.08 ( iv ) Megabid Finance & Investment Private Limited Other receivables 0.02 - ( v ) N Bhuvaneswari Short-term employee bene fi ts payable (92.80) (20.36) ( vi ) N Brahmani Short-term employee bene fi ts payable (78.89) (22.20) ( vii ) M Sambasiva Rao Short-term employee bene fi ts payable (21.73) (9.22) Notes : (a) The sales to and purchases from related parties are made on terms equivalent to those that prevail in arm’s length transactions. Outstanding balances at the year-end are unsecured and interest free and settlement occurs in cash. There have been no guarantees provided or received for any related party receivables or payables. For the year ended 31 March 2021, the Group has not recorded any impairment of receivables relating to amounts owed by related parties (31 March 2020: ₹ Nil). This assessment is undertaken each fi nancial year through examining the fi nancial position of the related parties and the market in which such parties operates. (b) As at 31 March 2021, the Group has an outstanding guarantee given to a banker towards loan availed by its joint venture i.e. Heritage Novandie Foods Private Limited. Amount outstanding to banker by Heritage Novandie Foods Private Limited as at 31 March 2021 is ₹ 149.54 (31 March 2020: ₹ 56.52). (c) Post-employment and other long-term bene fi ts, disclosed above, does not include those bene fi ts which are computed for the Company as a whole. 42. Contingent liabilities and commitments Particulars As at 31 March 2021 As at 31 March 2020 ( a ) Commitments (i) Estimated amount of contracts remaining to be executed on capital account and not provided for 57.47 272.18 Note: Refer note 48(d) for commitments in respect of a joint venture. Summary of the signi fi cant accounting policies and other explanatory information (All amounts in ₹ millions, except share data and where otherwise stated)