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Notes forming part of consolidated onancial statements (Contd.)
196
•
Annual Report 2016-17
right to set off current tax assets against current tax liabilities and where the deferred tax assets and deferred tax
liabilities relate to income taxes levied by the same taxation authority. In all other cases the same have been separately
disclosed.
** Persistent Systems, Inc. (PSI) (a wholly owned subsidiary of the Parent Company) along with its US based subsidiaries
have decided to opt for oling consolidated income tax return in compliance with the applicable tax regulations in the
United States. This enables to set off the business losses in Persistent Telecom Solutions Inc. (PTSI) (wholly owned
subsidiary of PSI) against the proots of PSI. In view of the virtual certainty of proots in PSI, deferred tax asset on the
brought forward losses has been recognized in the onancial statements of PTSI.
11. Other non-current assets
As at
March 31, 2017
In
`
Million
As at
March 31, 2016
In
`
Million
As at
April 1, 2015
In
`
Million
Capital advances (Unsecured, considered good)
10.70
582.75
12.57
Advances recoverable in cash or kind or for value to be received
61.15
66.38
68.16
71.85
649.13
80.73
12. Current onancial assets : Investments
As at
March 31, 2017
In
`
Million
As at
March 31, 2016
In
`
Million
As at
April 1, 2015
In
`
Million
Investments carried at cost
-
Unquoted Investments
Investments in equity instruments
In associates*
Sprint Telecom India Private /imited [Holding Nil ( March 31,
2016: Nil / April 1, 2015: 26% )@
-
-
13.00
Nil (March 31,2016 : Nil / April 1, 2015 : 1.30 million) shares of
`
10 each, fully paid up
Total investments carried at cost (A)
-
-
13.00
Designated as fair value through proot and loss
- Quoted investments
Investments in mutual funds
Fair value of current mutual funds (Refer Note 12a)
4,369.29
4,672.02
4,648.23
Fair value of current portion of long term mutual funds (Refer
Note 7a & 7b)
130.37
242.34
-
4,499.66
4,914.36
4,648.23
Total Investments carried at Fair Value (B)
4,499.66
4,914.36
4,648.23
Total carrying amount of investments (A) + (B)
4,499.66
4,914.36
4,661.23
Aggregate amount of quoted investments
4,499.66
4,914.36
4,648.23
Aggregate amount of unquoted investments
-
-
13.00
* Investment in equity shares of Sprint Telecom India Private /imited was intended to be disposed-off pursuant to a share
purchase agreement executed during the onancial year 2014-15, hence it was reclassioed as current investment as at April
1, 2015