Page 216 - Kolte Patil AR 2019-20

Notes forming part of the Consolidated Financial Statements

Tribunal for reduction in share capital by “KPRE” was received and became effective. Accordingly, Kolte-Patil Real Estate Private Limited became
100% subsidiary of the Company with effect from December 31, 2018.
iv. During the year ended March 31, 2020, the Company has increased its stake in Carnation Landmarks LLP from 50.17% to 99%, the same
was executed with retirement deed where in existing partners India Realty Excellence Fund II LLP and India Realty Excellence Fund III was
retired from Carnation Landmarks LLP on 12th February 2020.
v. During the year ended March 31,2020, Jasmine Real Estate Private Limited (JREPL) was incorporated under the Companies Act, 2013.
JREPL is jointly controlled by KPIT (95% Subsidiary of the Company) and Plant Holding Limited having holding of 50% equity stake with
economic benefit of 10% and 90% respectively.

34. DISCLOSURE AS REQUIRED UNDER IND AS 112
a) Details of Non-Wholly Owned Subsidiaries that have Material Non-Controlling Interest
(H in Lakhs)

Proportion of Ownership and Profit/(Loss) after Tax Accumulated Non-
voting rights held by Non- allocated to Non-Controlling controlling Interest
Name of the Subsidiary Controlling Interests Interests
March 31, March 31, March 31, March 31, March 31, March 31,
2020 2019 2020 2019 2020 2019
Kolte-Patil I-Ven Townships (Pune) 5% 55% 937 912 (319) (4,367)
Limited

Tuscan Real Estate Private Limited 49% 49% (195) 287 939 1,399
Individually Immaterial Non- - - 1,991 1,202 865 3,560
Controlling Interest
Total - - 2,733 2,401 1,485 592

b) Summarised financial information in respect of each of the Group’s subsidiaries that has material non-controlling interests is set out
below. The summarized financial information below represents amounts before intragroup eliminations.
i) Kolte-Patil I-Ven Townships (Pune) Limited
(H in Lakhs)
As at As at
Particulars
March 31, 2020 March 31, 2019
Current assets 92,178 80,856
Non-current assets 9,734 10,977
Current liabilities 88,389 71,335
Non-current liabilities 19,898 28,438
Equity interest attributable to the owners (6,375) (7,940)
Non-controlling interest - -

214 | Kolte-Patil Developers Limited