(c) Balances receivable/(payable) As at 31 March 2023 31 March 2022 Heritage Finlease Limited Security deposits 26.55 1.51 Lease rent payable (3.51) (2.01) Other payables (1.76) (9.38) Other receivables 0.51 0.38 Heritage Novandie Foods Private Limited Trade receivables 2.21 0.28 Rent receivable 0.10 0.10 Security deposits (0.45) (0.45) Other receivables 1.32 0.46 N Bhuvaneswari Employee related payables (29.90) (57.43) N Brahmani Employee related payables (28.57) (52.54) Security deposits 6.08 - Lease rent payable (1.09) - N Devaansh - Security deposits 6.08 - Lease rent payable (1.09) - M Sambasiva Rao Employee related payables (8.84) (13.62) Srideep Madhavan Nair Kesavan Employee related payables - (0.01) NTR Memorial Trust Trade receivables 0.26 - 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 2023, the Group has not recorded any impairment of receivables relating to amounts owed by related parties (31 March 2022: ` 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 2023, the Group has an outstanding guarantee given to a banker towards term loan and working capital facility availed by its joint venture i.e. Heritage Novandie Foods Private Limited. Amount outstanding to the banker by Heritage Novandie Foods Private Limited as at 31 March 2023 aggregates to `110.30 (31 March 2022: `120.26). (c) Post-employment and other long-term benefi ts, disclosed above, does not include those benefi ts which are computed for the Group as a whole. Summary of the significant accounting policies and other explanatory information (All amounts in ` millions, except share data and where otherwise stated) Heritage Foods Limited | 31st Annual report 2022-23 300
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