| Notification Detail :
Government has received representations from stakeholders seekingclariflcations on the manner of presentation of notes in Consolidated FinancialStatement (CFS) to be prepared under Schedule III to the Companies Act,2013(Act). These representations have been examined in consultation with thelnstitute of Chartered Accountants of India (ICAI) and it is clarified that Schedulelll to the Act read with the applicable Accounting Standards does not envisagethat a company while preparing its cFS merely repeats the disclosures made byit under stand-alone accounts being consolidated. In the CFS, the companywould need to give all disclosures relevant for CFS only.
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