Page 149 - 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
f) The Group do not have any transaction that was not recorded in the books of accounts and has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961.
g) The Group has not traded or invested in Crypto currency or Virtual Currency during the financial year.
50. IMPACT OF COVID – 19
The Group is mainly engaged in the business of transmission of electricity and earns revenue pursuant to the long-term transmission service agreements (TSAs) with designated Inter-state customers. In addition, maintaining the availability of the assets in excess of 98% gives the right to claim incentives under the respective TSAs.
Due to the continuing COVID-19 pandemic, various lockdowns were declared by the Central/ State Governments/ Local Authorities from time to time. However, as per the Government of India guidelines, power transmission units and services falls under the category of essential services and were exempted from the said lockdown. Trust has considered various internal
and external information available up to the date of approval of Financial Statements and there has been no material impact of COVID-19 pandemic on the operations of the Subsidiaries for the year ended 31 March 2022.
However, the impact assessment of COVID 19 is a continuing process given the uncertainties associated with its nature and duration. The Group will continue to monitor any material changes to future economic conditions.
51. OTHER NOTES
a) The Code on Social Security, 2020 (‘Code’) relating to employee benefits during employment and post-employment benefits received Presidential assent in September 2020. The Code has been published in the Gazette of India. However, the date on which the Code will come into effect has not been notified. The Group will assess the impact of the Code when it comes into effect and will record any related impact in the period the Code becomes effective.
b) Figures have been rounded off to nearest rupees in million up to two decimals.
As per our report of even date
For S.K.Mittal & Co.
Chartered Accountants FRN: 001135N
(CA Gaurav Mittal)
Membership Number: 099387 Place: Gurugram
Date: 26.05.2022
For and on behalf of Board of Directors
Anjana Luthra
Company Secretary PAN: ABYPL2312H Place: Gurugram
Seema Gupta
Chairperson DIN:- 06636330 Place: Gurugram
Purshottam Agarwal
CEO
PAN: ABWPA7859E Place: Gurugram
Ashok Kumar Singhal
Director
DIN:- 08578420 Place: Gurugram
Amit Garg
CFO
PAN: ACSPG1833F Place: Gurugram
POWERGRID Infrastructure Investment Trust 147