27/02/2018
MCA provides exemption to Segment Reporting norms: Companies Act, 2013 Chapter IX, section 129 - Shall not apply to the companies engaged in defence production to the extent of application of relevant Accounting Standard on segment reporting. It is expected that the relaxation would be significantly beneficial to Companies in defence sector with the relaxation of accounting standards and lower disclosures.
In exercise of the powers conferred by clauses (a) and (b) of sub-section (1) and sub-section (2) of section 462 of the Companies Act, 2013 (18 of 2013) the Central Government, in the interest of public, hereby amends the notification of the Government of India in the Ministry of Corporate Affairs n...