Relating to LEVEL1 Enterprises
This query is : Resolved
09 July 2009
If a Non-Listed Pvt Ltd holding comapany has given loan to its fully owned subsidiary company and it exceeds RS 10 CRORES IN THIS FINANCIAL YEAR then is level 1 applicable or not?
09 July 2009
Level I,II and III are as per AS issued by ICAI. But companies are supposed to follow AS as per Companies (Accounting Standards rules),2006 in which there is no segregation for level 1,II and III . Instead certain para's of those standards are not applicable for Small and medium enterprises. So take care of this major change.
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21 August 2009
but which sections of companies act should i refer to for clarifications??
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