Heritage Foods Limited

Heritage Foods Limited 266 44. Disposal of investments in Future Retail Limited and Praxis Home Retail Limited (“PHRL”) During the year ended 31 March 2021, the Holding Company has divested its entire holdings of 17,847,420 equity shares in Future Retail Limited and 892,371 equity shares in Praxis Home Retail Limited. These investments were acquired by the Holding Company pursuant to an arrangement and as a consideration for transfer of demerged retail business to Future Retail Limited. On completion of the mandatory lock-in-period, the aforesaid investments were divested during the current year for an aggregate consideration of ₹ 1,358.80. Further, a net realised gain of ₹ 12.14 on disposal of these investments is presented in the Consolidated Statement of Pro fi t and Loss as fair value gain/(loss) on FVTPL securities. 45. Research and development expenses Particulars For the year ended 31 March 2021 31 March 2020 Capital expenditure 11.14 - Revenue expenditure 1.87 - Total 13.01 - 46. Disclosure under Micro, Small and Medium Enterprises Development Act, 2006 The creditors covered by Micro, Small and Medium Enterprises Development Act, 2006 (“the MSMED Act, 2006”) have been identi fi ed on the basis of information available with the Group. Disclosures in respect of the amounts payable to such parties are given below: Particulars As at 31 March 2021 As at 31 March 2020 (i) The principal amount remaining unpaid as at the end of the year. 35.14 53.06 (ii) The amount of interest accrued and remaining unpaid on (i) above. 0.00 0.00 (iii) Amount of interest paid by the Group in terms of Section 16, of the MSMED Act, 2006 along with the amounts of payments made beyond the appointed date during the year. - - (iv) The amount of interest due and payable for the period (where the principal has been paid but interest under the MSMED Act, 2006 not paid) - - (v) The amount of further interest remaining due and payable in the succeeding years, until such date when the interest dues as above are actually paid to the small enterprises for the pur- pose of disallowance as a deductible expenditure under Section 23 of the MSMED Act, 2006. 0.00 0.00 Notes: (a) Explanation - The terms ‘appointed day’, ‘buyer’, ‘enterprise’, ‘micro enterprise’, ‘small enterprise’ and ‘supplier’ shall have the same meaning as assigned to them under clauses (b),(d),( e), (h), (m) and (n) respectively of section 2 of the Micro, Small and Medium Enterprises Development Act, 2006. (b) This information required to be disclosed has been determined to the extent such parties have been identi fi ed on the basis of information available with the Group. The auditors have placed reliance on the information provided by the management. Summary of the signi fi cant accounting policies and other explanatory information (All amounts in ₹ millions, except share data and where otherwise stated)