HIJ Ltd. is a globally diversified business conglomerate with operations spanning multiple business segments across various regions worldwide. For…

HIJ Ltd. is a globally diversified business conglomerate with operations spanning multiple business segments across various regions worldwide. For maintaining its financial records, the company follows Indian Accounting Standards. As the finance team diligently finalizes the books of accounts and prepares the financial statements for the financial year ending on 31 March 20X2, it requires insights and accounting suggestions on the following transactions: (i) On 1 October 20X1, HIJ Ltd. subscribed for 40 million 1loan notes in Z Ltd. The loan notes were issued at 90 paise and were redeemable at 1.20 on 30 September 20X6. Interest is payable on 30 September in arrears at 4% of par value. This represents an effective annual rate of return for HIJ Ltd. of 9.9%. HIJ Ltd.'s intention is to hold the loan notes until redemption. (ii) On 1 st April 20X1, HIJ Ltd. commenced joint construction of a property with G Ltd. For this purpose, an agreement has been entered into that provides for joint operation and ownership of the property. All the ongoing expenditure, comprising maintenance plus borrowing costs, is to be shared equally. The construction was completed on 30 th September 20X1 and utilisation of the property started on 1 st January 20X2 at which time the estimated useful life of the same was estimated to be 20 years. Total cost of the construction of the property was 40 crores. Besides internal accruals, the cost was partly funded by way of loan of 10 crores taken on 1 st January 20X1. The loan carries interest at an annual rate of 10% with interest payable at the end of year on 31 st December each year. The company has spent - 4,00,000 on the maintenance of such property. The company has recorded the entire amount paid as investment in Joint Venture in the books of accounts. Suggest the suitable accounting treatment of the above transaction as per applicable Ind AS. Analyze the transactions mentioned above and choose the most appropriate option in the below questions 9 to 13 in line with relevant Ind AS: