Page 139 - Index

02-40 CORPORATE OVERVIEW 41-59 STATUTORY REPORTS 60-147 FINANCIAL STATEMENTS Consolidated
Notes
to the Consolidated Financial Statements for the year ended 31 March 2022
The Trust is required to present the statement of total assets at fair value and statement of total returns at fair value as per SEBI Circular No. CIR/IMD/DF/114/2016 dated 20 October 2016 as a part of these financial statements- Refer Statement of Net Assets at Fair Value and Statement of Total Returns at Fair Value.
The inputs to the valuation models for computation of fair value of assets for the above mentioned statements are taken from observable markets where possible, but where this is not feasible, a degree of judgement is required in establishing fair values. Judgements include considerations of inputs such as WACC, Tax rates, Inflation rates, etc.
The significant unobservable inputs used in the fair value measurement required for disclosures categorised within Level 3 of the fair value hierarchy together with a quantitative sensitivity analysis as at 31 March 2022 are as shown below:
38. RELATED PARTY DISCLOSURES
(A) Disclosure as per Ind AS 24 - “Related Party Disclosures”
(a) Entity with significant influence over trust
Name of entity
Power Grid Corporation
of India Limited
Place of business/ country
of incorporation
India
Relationship with Trust
Sponsor and Project Manager / Entity with significant influence
(B) Disclosure as per Regulation 2(1)(zv) of the InvIT Regulations
(a) Parties to Trust
Significant unobser- vable input
WACC
Input for
31 March 2022
7.70% to 8.00%
Sensitivity of input to the fair value
+0.50% -0.50%
₹ in million
Increase/ (Decrease) in fair value
5,128.00 (4,597.60)
Name of entity
Power Grid Corporation
of India Limited
POWERGRID Unchahar Transmission Limited
IDBI Trusteeship Services Limited
Place of business/ country
of incorporation
India
India
India
Relationship with
Trust
Sponsor and Project Manager
Investment Manager
Trustee
Quantitative disclosures fair value measurement hierarchy for assets as at 31 March 2022:
(b) Promoters of the parties to Trust specified in (i) above
Particulars
Assets for which fair values are disclosed:
Property Plant and Equipment, Intangible Assets and Goodwill*
Date of valuation
31 March 2022
Level Level 1 2
₹ in million
Level 3 Total
109,014.21 109,014.21
Name of entity
Power Grid Corporation of India Limited
POWERGRID Unchahar Transmission Limited
IDBI Trusteeship Services Limited
Promoter
Government of India
Power Grid Corporation of India Limited
IDBI Bank Limited
Life Insurance Corporation General Insurance Corporation
-
-
* Statement of Net assets at fair value and total return at fair value require disclosure regarding fair value of assets (liabilities are considered at book value). Since the fair value of assets other than the Property Plant and Equipment, Intangible Asset and Goodwill, approximate their book value hence these have been disclosed above.
The Value disclosed above represents 100% value of the Property Plant and Equipment, Intangible Assets and Goodwill without adjustment for Non-Controlling Interest
(c) Directors of the parties to Trust specified in (a) above
(i) Directors of Power Grid Corporation of India Limited:
Shri K. Sreekant
Smt. Seema Gupta
Shri Vinod Kumar Singh
Shri M. Taj Mukarrum
Shri Abhay Choudhary
Shri Dilip Nigam (Ceased to be Director w.e.f. 30 April 2022)
Shri Mritunjay Kumar Narayan (Ceased to be Director w.e.f. 06 Dec 2021)
POWERGRID Infrastructure Investment Trust 137