Atul Ltd 2019-20

155 Standalone | Notes to the Financial Statements Note 28.16 Offsetting financial assets and liabilities The Company has not offset any financial asset and financial liability. It offsets a financial asset and a financial liability when it currently has a legal enforceable right to set off the recognised amounts and it intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. a) Master netting arrangements – not currently enforceable Agreements with derivative counterparties are based on an ISDA Master Agreement. Under the terms of these arrangements, only where certain credit events occur (such as default ), the net position owing | receivable to a single counterparty in the same currency will be taken as owing and all the relevant arrangements terminated. As the Company does not presently have a legally enforceable right of set-off, these amounts have not been offset in the Standalone Balance Sheet. b) Collateral against borrowings The Company has hypothecated | mortgaged assets as collateral against a number of its sanctioned line of credit (Refer to Note 17 for further information on assets hypothecated | mortgaged as security). In case of default as per borrowing arrangement such collateral can be adjusted against the amounts due. Note 28.17 Dividend on equity shares Dividend on equity shares declared and paid during the year: ( ` cr) Particulars As at March 31, 2020 As at March 31, 2019 Final dividend of ` 15.00 per share for the year 2018-19 (2017-18: ` 12.00 per share) 44.49 35.59 Dividend distribution tax on final dividend 1 8.95 4.34 Interim dividend of ` 27.50 per share for the year 2019-20 81.57 - Dividend distribution tax on interim dividend 1 16.32 - 151.33 39.94 1 Dividend distribution tax (net ) pertaining to the current year include credit in respect of tax paid under Section 115(O) of the Income Tax Act, 1961 by the Company on dividend received from its subsidiary companies. Note 28.18 Events after the reporting period There was no significant event after the end of the reporting period which requires any adjustment or disclosure in the Standalone Financial Statements. Note 28.19 Rounding off Figures less than ` 50,000 have been shown at actual in brackets. Note 28.20 Regrouping | reclassification Figures for the previous year have been regrouped | reclassified wherever necessary, to conform to the presentation of current year. Note 28.21 Authorisation for issue of the Standalone Financial Statements The Standalone Financial Statements were authorised for issue by the Board on April 28, 2020. In terms of our report attached For Deloitte Haskins & Sells LLP For and on behalf of the Board of Directors Chartered Accountants S S Lalbhai Samir R. Shah T R Gopi Kannan Chairman and Managing Director Partner Whole-time Director and CFO L P Patni Company Secretary B N Mohanan Mumbai Whole-time Director Atul April 28, 2020 and President - U&S April 28, 2020