186 Atul Ltd | Annual Report 2022-23 Atul Ltd | Annual Report 2022-23 Atul Ltd Atul House G I Patel Marg Ahmedabad 380 014, Gujarat India Atul Ltd | Annual Report 2022-23 Reconnect | Reimagine | Regrow Corporate Overview Statutory Reports Financial Statements d) Details of ongoing CSR projects under Section 135(6) of the Act (` cr) Balance as at April 01, 2022 Amount required to be spent during the year Amount spent during the year Balance as at March 31, 2023 With the Company In separate Unspent CSR Account From the bank account of the Company From separate Unspent CSR Account With the Company In separate Unspent CSR Account - 4.35 - - (4.35) - - (` cr) Balance as at April 01, 2021 Amount required to be spent during the year Amount spent during the year Balance as at March 31, 2022 With the Company In separate Unspent CSR Account From the bank account of the Company From separate Unspent CSR Account With the Company In separate Unspent CSR Account - - 4.85 0.50 - 4.35 e) Excess CSR expenditure under Section 135(5) of the Act (` cr) Balance as at April 01, 2022 Amount required to be spent during the year Amount spent during the year Balance as at March 31, 2023 0.06 15.81 15.83 0.08 (` cr) Balance as at April 01, 2021 Amount required to be spent during the year Amount spent during the year Balance as at March 31, 2022 0.03 14.86 14.89 0.06 f) Refer Note 29.4 (H) for details of contribution to a trust controlled by the Company in relation to expenditure on Corporate Social Responsibility initiatives. Note 29.16 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 International Swaps and Derivatives Association Inc 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 are considered as 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 Note 17(c) 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 29.15 Expenditure on Corporate Social Responsibility initiatives (continued)
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