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Published on Fri, Jan 09,2015 | 22:08, Updated at Fri, Jan 09 at 23:02Source : CNBC-TV18 | Watch Video : 
As the year turned India made its second commitment to IFRS convergence. The Ministry for Corporate Affairs issued a Circular making it mandatory for all companies with a networth of 500 crore rupees or more and their holding, subsidiary, joint venture and associate companies to apply Ind-AS starting FY17. Companies with a networth of 250-500 crores and companies with listed debt or equity and their holding, joint venture, subsidiary or associate companies…must apply Ind-AS starting FY18. To talk about India's 2nd attempt at converging with IFRS, CNBC-TV18's Menaka Doshi speaks to Amarjit Chopra, Chairman of the National Advisory Committee on Accounting Standards.
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