91 (` lakhs) Note 11 Other equity As at March 31, 2022 As at March 31, 2021 a) Securities premium 876.88 876.88 b) Retained earnings 211.80 (29.54) c) Other reserves i) Capital contribution from Atul Ltd 1,646.57 1,646.57 2,735.25 2,493.91 Refer Standalone Statement of changes in equity for detailed movement in other equity balance. Nature and purpose of other reserves a) Securities premium Securities premium is used to record the premium on issue of shares. The reserve is utilised in accordance with the provisions of the Companies Act, 2013. b) Retained earnings Retained earnings are the profits that the Company has earned till date, any transfers from or to other comprehensive income, dividends or other distributions paid to shareholders. c) Other reserve As per Modified Sanction Scheme MS-10 and MS-13 approved by the Board of Industrial Finance and Reconstruction, the Company had issued 0% redeemable and non-convertible preference shares of ` 1,000 lakhs to Atul Ltd (promoter) and received interest free secured loan of ` 1,128.89 lakhs and interest free unsecured loan of ` 539.58 lakhs from Atul Ltd. These financial liabilities are measured at amortised cost and the initial fair value difference is recognised as capital contribution from Atul Ltd. (` lakhs) Note 12 Borrowings As at March 31, 2022 As at March 31, 2021 Current Non-current Current Non-current a) 20,00,000 (March 31, 2021: 40,00,000) 0% redeemable and non-convertible preference shares of ` 10 each {refer Note (iii),(iv) and (v) below and also refer Note 27.3} - 172.37 - 320.92 Amount of current maturities of long-term debt disclosed under the head ‘short-term borrowing’ 172.37 (172.37) 148.55 (148.55) 172.37 - 148.55 172.37 Note 10 Equity share capital (continued)
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