What will be your advice if the increase in the networth was to ₹300 crore in March 2019, other things remain same as per point (i) above?
CS Professional · Secretarial Audit, Compliance Management and Due Diligence · PYQS · June 2019
What will be your advice if the increase in the networth was to ₹300 crore in March 2019, other things remain same as per point (i) above?
Answer & Explanation:
As per Rule 4(1)(iii) (b) of the Companies (Indian Accounting Standards) Rules, 2015, unlisted companies having net worth of rupees two hundred and fifty crore or more but less than rupees five hundred crore are required to prepare their financial statement in accordance with the Companies (Indian Accounting Standards) Rules, 2015. If the increase in net worth was to ₹ 300 crore in March 2019, X Ltd. has the file the financials for the FY 2018-19 in XBRL mode with the Registrar of Companies.
Topics: Companies Act, 2013
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