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What is the definition for exempted class of companies? How does a company classify into Power, Banking, Insurance and NBFC?

April 26, 2017Banking class classify companies COMPANY definition exempted Insurance nbfc power

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What is the definition for exempted class of companies? How does a company classify into Power, Banking, Insurance and NBFC?

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All such companies, whose financial statements are generated as per accounting requirements other than Schedule VI of the Company Act, 1956 have been exempted from XBRL filing for year 2010-11. The companies regulated by any other act like Electricity Act, 2003, Banking Regulation Act, 1949, Insurance Act, etc are exempted from XBRL filing in the Phase-I filings. Similarly, companies registered as a NBFC have been exempted from XBRL filing for year 2010-11.