CRITERIA FOR CLASSIFICATION OF ENTERPRISES
(1) Criteria for classification of non-corporate entities as decided by the Institute of Chartered Accountants of India
Level I Entities
Non-corporate entities which fall in any one or more of the following categories, at the end of the relevant accounting period, are classified as Level I entities:
Entities whose equity or debt securities are listed or are in the process of listing on any stock exchange, whether in India or outside India.
Banks (including co-operative banks), financial institutions or entities carrying on insurance business.
All commercial, industrial and business reporting entities, whose turnover (excluding other income) exceeds rupees fifty crore in the immediately preceding accounting year.
All commercial, industrial and business reporting entities having borrowings (including public deposits) in excess of rupees ten crore at any time during the immediately preceding accounting year.
Holding and subsidiary entities of any one of the above.
Refer Fourth point and kindly let me now what are all included as borrowings ?
I doubt whether - Working Capital borrowings ( Normally Classified under current liabilities) also to be included as borrowings to determine the Entity status.
Kindly Clarify please.
CAclubindia
