Hi, I need to know the applicability of Indas on Company F. Details are as given below:
Company M (NBFC Company having networth of Rs 50 Crores) is subsidiary of Company P (Listed Company). Company M has an wholly owned Subsidiary named Company F. Whether Company F is required to prepare Financials as per IndAS or AS.
Please note that Company M is required to follow AS and Company P is required to follow IndAS.
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