Nikhil Pvt. Ltd. acquired 100% of Pranav Pvt. Ltd. on 1st January, 2023. The fair value of the purchase consideration was 20 crores consisting of…

Nikhil Pvt. Ltd. acquired 100% of Pranav Pvt. Ltd. on 1st January, 2023. The fair value of the purchase consideration was 20 crores consisting of ordinary shares of 100 each of Nikhil Pvt. Ltd. The fair value of the net assets acquired was 15 crores. At the time of the acquisition, the value of the ordinary shares of Nikhil Pvt. Ltd. and the net assets of Pranav Pvt. Ltd. were only provisionally determined. On 30th November, 2023, it was finally determined that the fair value of Nikhil Pvt. Ltd.'s shares was 22 crores and the fair value of net assets of Pranav Pvt. Ltd. was 16 crores. However, the directors of Nikhil Pvt. Ltd. have seen the fair value of the company's shares decline since 1st January, 2023, and wanted to adopt the fair value of the shares as of 1st February, 2024, which will result in the fair value of consideration at being value date 18 crores. In addition to the above Purchase Consideration, the acquisition agreement states that an additional 4 crores will be paid if Pranav Pvt. Ltd. achieves a turnover of 160 crores in the next two years. On the date of acquisition, the fair value of the said consideration was 3 crores. In February 2024, due to decline in performance of Pranav Pvt. Ltd., it is determined that it is unlikely that it would meet budgeted turnover of 160 crores. On the basis of the information provided above, you are required to choose the most appropriate answer to the below mentioned questions 13 to 15 in line with the relevant Ind AS: