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Notes forming part of the Standalone Financial Statements as at 31 March, 2020
Further Corporation had spent Rs. 38.38 Lakhs from CSR budget for the said society.

43.5 The Key Managerial Personnel of the Corporation and their remuneration (including
Superannuation benets) are as below:

a) Shri Sanjay Gupta, Chairman and Managing Director Salary & Allowances: ` 0.69
Crore ( ` 1.12 Crore) including Employer Contribution to PF: ` 0.09 Crore ( ` 0.24
Crore); Perks: Nil

b) Shri Amitabh Banerjee, Director (Finance) (Period 01/04/19 to 12/10/2019) Salary
& Allowances: ` 0.39 Crore (` 1.04 Crore) including Employer Contribution to PF:
` 0.04 Crores (` 0.24 Crore); Perks: Nil

c) Shri Hari Das Gujrati, Director (Operations & Commercial) Salary &
Allowances:`0.59 Crore (` 0.52 Crore) including Employer Contribution to PF: ` 0.08
Crore (` 0.08 Crore); Perks: Nil

d) Shri Subhas Chand Gupta, Director (Way & Works) (Salary & Allowances:` 0.48
Crore (` 0.12 Crore) including Employer Contribution to PF: ` 0.07 Crore (` 0.015
Crore); Perks: Nil

e) Shri Rajendra Parab, (Company Secretary) Salary & Allowances: ` 0.24 Crore (`
0.22 Crore) including Employer Contribution to PF: ` 0.012 Crore ( `0.012 Crore);
Perks: Nil

44. Lease payments:

With effect from 1st April, 2019, Ind AS 116 – “Leases” (Ind AS 116) supersedes Ind AS
17 – “Leases”. The Company has adopted Ind AS 116, retrospectively with the
cumulative effect of initially applying the standard, recognized on the date of initial
application (April 1, 2019). The application of Ind AS 116 has resulted into recognition
of 'Right-of-Use' asset with a corresponding Lease Liability in the Balance Sheet.
However the company has applied the option given in transitional provisions of the Ind
AS 116, and recognized the right-of-use asset at an amount equal to the lease liability
at the date of initial application, relating to those operating lease arrangement
recognized in the balance sheet immediately before the date of initial application. Due
to which there is no impact on the date of initial application i.e. 01/04/2019 on the
opening balance of retained earnings.

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