Ind AS applicability expands to NBFCs: phased implementation, transition and consolidation requirements imposed by government rules. The amendment expands Ind AS applicability by defining NBFCs and imposing a phased adoption timetable for NBFCs and their group entities based on net worth and listing status, prescribes net worth calculation from specified audited stand alone statements, and provides consolidation guidance where group entities apply different accounting frameworks. It requires banking and insurance groups to follow regulator notified Ind AS variants and inserts comprehensive transitional, measurement and disclosure amendments across multiple Ind ASs including Ind AS 101, 109, 110, 11 and 18.