Applicability of Ind As to associate of associate
This query is : Resolved
27 November 2024
Is sub-associate of associate company is required to follow Ind As. Example: 'A' listed company is holding 30% shares in Company 'B'. The Company 'B' is associate of company 'A'. Again company 'B' is holding 30% shares in company 'C'. Whether the company 'C' is required to follow and apply Ind As.
27 November 2024
The requirement for Company 'C' would depend on its own status—whether it is listed, whether it has a net worth above ₹250 crore, or if it meets any other specific criteria laid out by the MCA for the applicability of Ind AS. Company 'C' is not required to follow Ind AS solely because it is a sub-associate of an associate company.
27 November 2024
Is company 'C' is required for follow Ind AS at least for preparation of consolidation with associate Company 'B'.
27 November 2024
As per my understanding, only Company 'B' has to follow Ind AS as it is associate of Company 'A'. Company 'C', being a sub-associate of Company 'A' through Company 'B', is not automatically required to follow Ind AS just because it is indirectly connected to a listed company 'A'.
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