Statement as per schedule iii?????

yes it is correct

Yes,it is correct.

As per schedule III of companies act 2013,

A liability shall be classified as current when it satisfies any of the following criteria:—

(a) it is expected to be settled in the company’s normal operating cycle;

(b) it is held primarily for the purpose of being traded;

(c) it is due to be settled within twelve months after the reporting date; or

(d) the company does not have an unconditional right to defer settlement of the

liability for at least twelve months after the reporting date. Terms of a liability that

could, at the option of the counterparty, result in its settlement by the issue of equity

instruments do not affect its classification.