Unit of measurement in balance sheet etc

CS Raj Kashyap (Company Secretary) (37 Points)

27 July 2016  
A company's turnover is less than 100 crores. As of now it is preparing its Balance Sheet and P/L in Rs. in thousands. But it intends to change the units of measurement in Rs. in Lakhs as per Schedule III of the Companies Act. Can it do so and if yes then whether shareholders approval is required or not. Please also point out Other formalities and disclosures for changing the units of measurement in Balance Sheet and PL etc.