A Ltd. is preparing its financial statements for the year ended 31 March 20X5. During the year, the following transactions and arrangements…

A Ltd. is preparing its financial statements for the year ended 31 March 20X5. During the year, the following transactions and arrangements occurred: A Ltd. granted certain share options to one of its directors. The grant was subject to the condition that the director would not compete with A Ltd. for a period of at least three years. The fair value of the award at the grant date, including the effect of the non-compete condition, was determined to be ₹ 1,50,000. A Ltd. also had a long-term loan that was contractually repayable after more than 12 months. The loan agreement contained a debt covenant, compliance with which was required to be assessed on 31 March every year. A Ltd. breached the specified covenant on or before 31 March. As a consequence of the breach, the lender obtained the contractual right to demand immediate repayment of the loan. During the year, A Ltd. acquired 60% equity shares of S Ltd. for ₹ 60 lakh. At the acquisition date, the fair value of S Ltd.'s identifiable net assets was ₹ 80 lakh, while the fair value of the non-controlling interest was ₹ 45 lakh.