Company Overview Financial Statements Notice Statutory Reports 73 Rudolf Atul Chemicals Ltd | Annual Report 2020-21 ii) Following movement in lease liability (` lakhs) Particulars 2020-21 2019-20 As at April 01, 2020 120.24 133.04 Addition - - Deletion - - Finance cost occurred 7.66 7.20 Payment of lease liability - 20.00 As at March 31, 2021 127.90 120.24 Future minimum lease payments payable under finance leases together with the present value of the net minimum lease payments (MLP) are as under: (` lakhs) Particulars As at March 31, 2021 As at March 31, 2020 MLP payable Present value of MLP payable MLP payable Present value of MLP payable Not later than one year 20.00 20.00 - - Later than one year and not later than five years 40.00 33.30 40.00 35.42 Later than five years 160.00 74.60 180.00 84.82 Total MLP payable 220.00 127.90 220.00 120.24 Less: future finance cost 92.10 - 99.76 - Present value of MLP payable 127.90 127.90 120.24 120.24 The Company does not face a significant liquidity risk with regard to its lease liabilities as the current assets are sufficient to meet the obligations related to lease liabilities as and when they fall due. Rent paid to lessor for short-term lease period is recognised in the Statement of Profit and Loss as Rent in Note 24 ‘Other expenses’. Cash payments for the principal portion and interest of the lease liabilities are classified within financing activities and short-term lease payments within operating activities.
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