Revised schedule vi for electricity company

As such, u/s 211(1) & (2) Proviso, Sch VI (R) is not applicable to any Insurance / Banking / Electricity Companies.
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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.
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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 updated 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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For Nov 2012 just be familiar with Revised Schedule VI and do not worry more. All the Best.

In the solution...the problem is solved as per revised schedule Vi..ie;Balance Sheet is prepared as per Revised schedule VI.. Here is the link for the paper...problem No.10

https://220.227.161.86/27595rtp_nov12_ipcc_gp2-5.pdf

Thanks.

As such, u/s 211(1) & (2), Schedule 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 Elect Companies, to the extent it is not contrary to the requirements of the Electricity Act.

Conclusion-->> Schedule VI(R) may be followed by Electricity Companies till the time any other format is prescribed by the relevant statute..    

For Nov. 12 Exam-->> Follow RTP....Adv Acc me ek ques h elect co ka ....jo ICAI ne New format i.e. Schedule VI(R) se solve kiya h....so follow RTP.... wish u ol d best:-)    

Thanks & Regards 

Vipul Jain