Supreme Court: VAT is Not Applicable on Reliance’s Inter-State Gas Supply from KG Basin to UP || Supreme Court: Co-Owner Can File Eviction Suit as Landlord under Bombay Rent Act || Supreme Court: Mediclaim Reimbursement Cannot be Set off Against Accident Compensation || SC: Hindu Succession Act 2005 Amendment Does Not Curtail Daughters’ Existing Inheritance Rights || SC: Loans May be Treated as Deposits under MPID Act, Private Individuals as Financial Establishments || Supreme Court: Preventive Detention Unwarranted When Ordinary Law Suffices to Maintain Order || Supreme Court: Tenant’s Defence Cannot be Struck off Without Checking Wilful Rent Default || Allahabad High Court: Disposing Non-Veg Food in Ganga May Hurt Hindu Religious Sentiments || J&K&L High Court: Similarity With Police Dossier Alone Not Enough to Quash Preventive Detention || Patna High Court: Convict on Bail Can Still Seek Premature Release

Implementation of Indian Accounting Standards in insurance sector - (01 Mar 2016)

MANU/IRDA/0006/2016

Insurance

The Ministry of Corporate Affairs advised Insurers to follow Indian Accounting Standards notified under the Companies (Indian Accounting Standards) Rules, 2015, in the specified manner. Insurers shall assess the impact of the Ind AS implementation on their financial position including the adequacy of capital, taking into account the solvency regulations requirements and place quarterly progress reports to their Boards.

Relevant : Circular on Public Disclosures by Insurers MANU/IRDA/0006/2010

Tags : INSURANCE SECTOR IND AS

Share :