You are the founder partner of a firm of Practising Company Secretaries with huge client base. Ambarish is a director in seven companies. He has approached you on the applicability of XBRL mode of filing for three compan

As per rule 3 of the Companies (Filing of Documents and Forms in Extensible Business Reporting Language) Rules, 2015, following class of companies shall file their financial statements in XBRL: i) all companies listed with any Stock Exchange(s) in India and their Indian subsidiaries; or ii) all companies having paid up capital of rupees five crore or above; iii) all companies having turnover of rupees one hundred crore or above; or iv) all Companies which are required to prepare their financial statement in accordance with companies (Indian Accounting standards) Rules, 2015. Provided that the companies in banking, insurance, non-banking financial and housing finance companies need not file financial statements under this rule. Hence, in the present case, conclusion is as under: Long Ltd. - Required, as it is a listed company. Here turnover, paid up capital are immaterial. Wide Private Ltd. - Not required as limits for paid-up capital and turnover not crossed. Here amount of borrowing is not relevant. However, if it is subject to clause (iv) above it shall file the statements using the Taxonomy provided in Annexure-IIA of the Companies (Filing of Documents and Forms in XBRL) Rules, 2015. Sharp Ltd. - Not required as XBRL provisions are not applicable to insurance companies. Turnover and paid-up capital figures are irrelevant.