Setting up of Section 25 company for XBRL India
As you may be aware that the ICAI has taken a lead role in the development and promotion of XBRL in India and has accordingly set up a provisional jurisdiction of XBRL in India. To further its development, the ICAI has decided to incorporate a separate company under the Companies Act 1956. The said company shall be a Section 25 Company which has already been granted name approval as EXTENSIBLE BUSINESS REPORTING LANGUAGE (XBRL) INDIA. Upon the incorporation of the said company, the jurisdiction shall open up its membership as per its byelaws.