Objective: Criteria for application of IFRS/AFRS(SSEs)/IFRS(SMEs) explained through categorization of companies.

2. 1 Public Interest Companies Listed company(a
company that has issued debt
or equity instruments in capital
markets ), Subsidiary of
a Listed company ,
Public utility or a
Public sector
company ,Company
holding assets in
fiduciary capacity.
IFRS
2 Large Size Company An UNLISTED
Company having
Paid up capital of
Rs. 200 m(20 Crore)
or more + Turn over
of Rs.1 billion (100
Crore) or more
IFRS

3. 3 Medium Size Company An UNLISTED
Company that is
neither of the other
three categories
defined in the table
IFRS For SMEs
4 Small Size Company An UNLISTED
Company having
Paid up capital not
exceeding Rs.25 m
(2.5 Crore ) +
Turnover not
exceeding Rs.100 m
(10 Crore )
AFRS for SSCs