MCA has notified a phase-wise convergence to IND AS from current accounting standards. IND AS shall be adopted by specific classes of companies based on their Net worth and listing status.
source https://www.caclubindia.com/articles/applicability-ind-as-phases-adoption-objectives-calculation-nbfcs-faqs-45161.asp
source https://www.caclubindia.com/articles/applicability-ind-as-phases-adoption-objectives-calculation-nbfcs-faqs-45161.asp
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