Amal Ltd 2016-17

93 Notes to the Financial Statements (b) Fair value hierarchy This section explains the judgements and estimates made in determining the fair values of the financial instruments that are (a) recognised and measured at fair value and (b) measured at amortised cost and for which fair values are disclosed in the financial statements. To provide an indication about the reliability of the inputs used in determining fair value, the Company has classified its financial instruments into the three levels prescribed under the accounting standard. An explanation of each level follows underneath the table. ( ` 000) Assets and liabilities At March 31, 2017 Level 1 Level 2 Level 3 Total Measured at fair value - recurring fair value measurements Financial assets Mutual funds 19,082 19,082 Investment in Equity Shares - 210 210 For which fair values are disclosed Financial assets Security deposits - - 3,905 3,905 Trade receivables - - 42,933 42,933 Financial liabilities Borrowings - - 1,49,667 1,49,667 Trade payables - - 16,608 16,608 Employee benefit payable - - 352 352 Provision for expenses - - 4,452 4,452 Retention payable - - 454 454 Assets and liabilities At March 31, 2016 Level 1 Level 2 Level 3 Total Measured at fair value - recurring fair value measurements: Financial assets Investment in Equity Shares - - 210 210 For which fair values are disclosed: Financial assets Security deposits 3,905 3,905 Trade receivables 4,598 4,598 Financial liabilities - - - - Borrowings - - 1,54,420 1,54,420 Trade payables 25,746 25,746 Employee benefit payable - - 346 346 Provision for expenses - - 4,376 4,376 Retention payable - - 140 140