CFSL Integrated Report 2021

178 C I M F I N A N C I A L S E R V I C E S L T D 34. CONTINGENT LIABILITIES 35. NON-CURRENT ASSETS CLASSIFIED AS HELD FOR SALE 33. COMMITMENTS GROUP Sep-21 MUR m Sep-20 MUR m Operating lease commitments - where the Group is the lessor The future minimum undiscounted lease payments under operating leases are as follows: Within one year 102.3 140.3 After one year and before five years 143.6 278.4 Later than 5 years 6.5 3.1 252.4 421.8 GROUP COMPANY Sep-21 MUR m Sep-20 MUR m Sep-21 MUR m Sep-20 MUR m Financial guarantee 57.6 112.0 57.6 112.0 GROUP Sep-21 MUR m Disposal of associate 14.4 At 30 September 2021, the Company had contingent liabilities in respect of guarantees from which it is anticipated that no material liabilities would arise. The Group and Company have given guarantee amounting to MUR 57.6m (2020: MUR 112m) on behalf of a subsidiary. One of the subsidiary entered into a Share buy back with iVeri Payment Technology Ltd to disinvest its 49 shares held for a consideration of USD 340,000 during the financial year. Consequently, the Group recognised an impairment of MUR 22.0m during the year. The consideration was fully recovered in November 2021. The Group has entered into operating leases for motor vehicles that include revenue-related rental payments that are contingent on future levels of revenue. These leases have terms ranging from 1 to 7 years. Explanatory Notes 30 SEPTEMBER 2021 E x p l a n a t o r y N o t e s

RkJQdWJsaXNoZXIy MzQ3MjQ5