Others

Clarification Regarding Your Email Dated September 12, 2017 For Non-Applicability Of IND-AS To KJMC Financial Services Limited

| Updated on February 01, 2018 Published on September 14, 2017

In terms of SEBI circular no. CIR/CFD/FAC/62/2016 dated July 5, 2016 and Rule 4 (1) (iv) of the Companies (Indian Accounting Standards) Rules, 2015 read with Companies (Indian Accounting Standards) (Amendment) Rules, 2016, we wish to inform you that KJMC Financial Services Limited is registered as Non-Banking Financial Companies (NBFCs) with RBI under the provisions of the RBI Act, 1934. As per the notification dated March 30, 2016 issued by Ministry of Corporate Affairs, the NBFCs whose equity or debt securities are listed on any stock exchange in India or outside India and having net worth less than Rs.500 crore shall comply with the Indian Accounting Standards (Ind AS) for accounting periods beginning on or after April 01, 2019. In view of the above Ind AS are not applicable for the financial results for quarter ended on June 30, 2017.

Pdf Link: Clarification Regarding Your Email Dated September 12, 2017 For Non-Applicability Of IND-AS To KJMC Financial Services Limited

Source : BSE - www.bseindia.com

Published on September 14, 2017
This article is closed for comments.
Please Email the Editor