Applicability of Ind AS - Companies

MCA ROADMAP

COMPANIES GOVERNED BY MCA

Ind AS will be applicable to Indian companies in Two Phases

PHASE I

Applicability in Phase I

Net worth to be tested from 31st March 2016

1. Companies having net worth of Rs.500 crores or more

2. Once a company is covered then even its related company will also have to prepare its financial statement as per IND AS

PHASE II

Applicability in phase II

Net worth to be tested from 31st March 2017 or onwards

1. Unlisted Companies having net worth of Rs.250 crores or more but less than 500 crores.

2. All listed companies which are not covered in Phase 1.

3. Once a company is covered then even its related company will also have to prepare its financial statement as per IND AS.

Companies here are refer to -

i) Companies which are Listed* either in India or outside India – (i.e. listing can be of either equity or debt securities or both)

ii) Companies which are Unlisted - can be either private or public companies.

iii) Companies which are in the Process of Listing

Related Companies here are refer to -

i) Its Holding Company

ii) Its Joint Venture

iii) Its Associates company

iv) Its Subsidiaries company

*Listed does not include SME (Small and Medium Enterprises) Listing companies