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Dear Tarun
Revised Schedule VI is applicable on Companies other than Insurance, Banking, Electricity and Companies registered under section 25 of the Companies Act, 1956. |
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As such, u/s 211(1) & (2) Proviso, Sch VI (R) is not applicable to any Insurance / Banking / Electricity Companies.
However, for Companies engaged in the generation and supply of Electricity, there is no prescribed format for presentation of Financial Statements, either in the Electricity Act, 2003, or the Rules framed thereunder.
Sec.616(c) states that the Companies Act will apply to Electricity Companies, to the extent it is not contrary to the requirements of the Electricity Act. Hence, Sch VI (R) may be followed by Electricity Companies till the time any other format is prescribed by the relevant statute.
This chapter, Electricity Company, has been re-written in the ICAI study material and Revised Schedule VI has been incorporated. But this material is applicable for May & Nov 2013 exams. |
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