Page 248 - CJ 2019 INTEGRATED REPORT

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34
NOTES TO THE FINANCIAL
STATEMENTS 31 DECEMBER 2019 (CONTINUED)
OPERATING LEASES COMMITMENTS
The The The Group leases leases premises for use use as as as as as as warehouses offices retail outlets and and and cell cell sites The The The leases leases are are are under non- cancellable operating lease lease lease lease lease lease lease agreements agreements and and and their lease lease lease lease lease lease lease terms are are are are between 3 and and and 10 years The The The The majority o of of the the the the the the lease lease lease lease lease lease lease agreements agreements are are renewable at at at the the the the the the the the end of of of the the the the the the the the lease lease lease lease lease lease period period The The Group does not have the the the the the the the the option to purchase the the the the the the the the leased premises at at the the the the expiry of of the the the the lease period The The The The Group Group leases equipment under non-cancellable operating lease lease lease lease lease agreement agreement Their lease lease lease lease lease terms are are between 3 and 10 years The The The The majority of of of the the the the the the the lease lease lease lease lease lease lease agreements are are renewable at at at the the the the the the the end of of of the the the the the the the lease lease lease lease lease lease lease period period The The The The Group Group does not have the the the the the the the option to purchase the the the the the the the leased equipment at at the the the the the the the expiry of of of the the the the the the the lease lease lease period The The Group also leases leases a a a a a a a a a a a a a a a a a a a a a a a plot of of of land at at at at La Cambuse under operating lease lease lease lease for a a a a a a a a a a a a a a a a a a a a a a a period of of of 60 years The The lease lease lease lease has varying terms terms escalation clauses and and renewal renewal rights On renewal renewal the the terms terms of of of the the leases leases are renegotiated The future minimum lease lease payments under non-cancellable operating leases are as as as follows:
GROUP
COMPANY 2018 2018 2018 2018 2019 Rs’000
- - - - 2019 Rs’000
- - - - Not later than 1 year Later than than 1 year year and not later than than 5
years Later than 5
years (i) CONTINGENCIES
Guarantees
On loans and and bank overdraft facilities of subsidiaries associates and and related companies
Group’s share of of bank guarantees of of associates Bank guarantees Rs’000
Rs’000
Rs’000
Rs’000
Rs’000
Rs’000
119 737 - - 357 262 - - 295 265
772 264 - - - COMPANY 2018 2018 2018 2018 35
GROUP
2019 Rs’000
1 1 075 717
- 103 887
2019 Rs’000
1 1 075 717
- 2 2 208
At 31 December 2019 the the Group and and Company had contingent liabilities in in in in in in respect of of bank guarantees in in in in in in the the ordinary course of of business amounting to Rs Rs Rs Rs 103 887
000
000
000
000
(2018 (2018 – – Rs Rs Rs Rs 55 399 000) 000) and and Rs Rs Rs Rs 2 2 2 2 2 2 208
000
000
000
000
(2018 (2018 – – Rs Rs Rs Rs 2 2 2 2 2 2 064 000) 000) respectively from which it it is is anticipated that no material liabilities will arise CURRIMJEE JEEWANJEE AND COMPANY LIMITED
Rs’000
Rs’000
Rs’000
Rs’000
Rs’000
Rs’000
1 1 1 1 1 1 164 164 290 290 1 1 1 1 1 1 164 164 290 290 10 399 - - 55 399 2 2 2 064