As such, u/s 211(1) & (2), Schedule VI(R) is Not applicable to any Insurance/Banking/Electricity Companies...
However, for Companies engaged in the generation and supply of Electricity, there is no prescribed format for presentation of Financial Statements, either in the Electricity Act, 2003, or the Rules framed thereunder..
Sec. 616(c) states that the Companies Act will apply to Elect Companies, to the extent it is not contrary to the requirements of the Electricity Act. Conclusion-->> Schedule VI(R) may be followed by Electricity Companies till the time any other format is prescribed by the relevant statute..
For Nov. 12 Exam-->> Follow RTP....Adv Acc me ek ques h elect co ka ....jo ICAI ne New format i.e. Schedule VI(R) se solve kiya h....so follow RTP.... wish u ol d best:-)
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