Leases: Ind AS 116 requires recognition of right-of-use assets and lease liabilities, with transition and disclosure rules. Amendments introduce Ind AS 116, requiring lessees to recognise right-of-use assets and lease liabilities, set initial and subsequent measurement and presentation rules, permit exemptions for short-term and low-value leases, provide practical expedients on transition (full retrospective or modified retrospective recognising cumulative effect at initial application), and make consequential amendments across multiple Ind ASs to align definitions, measurement, impairment and disclosure requirements with the new lease accounting model.