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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>MCA Requires Select Companies to File Financials in XBRL Mode; Exemptions for Banking, Insurance, Power, NBFCs Apply.</h1> The Ministry of Corporate Affairs mandates select companies to file their Balance Sheet and Profit & Loss Account in Extensible Business Reporting Language (XBRL) mode for financial years starting on or after April 1, 2011. This applies to companies listed on Indian stock exchanges and their subsidiaries, companies with a paid-up capital of at least five crore rupees, or a turnover of at least one hundred crore rupees, and those required to file for FY 2010-11 in XBRL. Exemptions include banking, insurance, power, and Non-Banking Financial Companies. Filing without additional fees is allowed until November 15, 2012, or 30 days post-AGM, whichever is later.
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