Classification of liabilities as current or non-current clarified; covenant effects and enhanced disclosure obligations under Ind AS updated. The notification amends multiple Ind AS to add transition reliefs and editorial renumbering, introduce supplier finance arrangement disclosure requirements, clarify classification of liabilities as current or non-current when rights to defer settlement depend on covenants (including required covenant disclosures and the treatment of post reporting date lender agreements), and provide an exception plus disclosure regime for Pillar Two income taxes; effective dates and retrospective application rules are specified for the various amendments.