The Reporting entity maintains irrevocable trust for Defined Benefits Obligations of its employees. There is no further contribution required to be made to the trust as all the members of the trust shall be retiring within 2-3 years. Current Status of the plan is overfunded, therefore the reporting entity has disclosed the amount by which the plan is overfunded as an asset in its books of accounts. The amount is calculated by the actuary.
Since the overfunded amount will never by returned by the trust due to trust being irrevocable, whether the treatment of the amount by which the plan is overfunded considered as an asset by the reporting entity is in line with Ind AS 19.