Financial Statements for a Non-Banking Financial Company (NBFC) whose financial statements are drawn up in compliance of the Companies (Indian Accounting Standards) Rules, 2015


[TO BE PUBLISHED IN GAZETTE OF INDIA, EXTRAORDINARY, PART-II, SECTION 3, SUB-SECTION (i)]
 
GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS
Notification
New Delhi, 11th October, 2018
 
G.S.R. (E).—In exercise of the powers conferred by sub-section (1) of section 467 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following further amendments in Schedule III to the said Act with effect from the date of publication of this notification in the Official Gazette, namely:-
In the said Schedule,-
  • in Division I,-
  • under the heading “General instructions for preparation of Balance Sheet and statement of Profit and Loss of a company”, under sub-heading “General instructions”, in paragraph 4, in clause (ii), for the word “shall”, the word “should” shall be substituted;
  • in Part I- Balance Sheet,-
  • under the heading “II Assets”, under sub-heading “Non-current assets”, for the words “Fixed assets”, the words “Property, Plant and Equipment” shall be substituted;
  • in the “Notes”, under the heading “General Instructions for preparation of Balance Sheet”, in paragraph 6,-
  • under the heading “B. Reserves and Surplus”, in item (i), in sub- item (c), the word “Reserve” s hall be omitted;
  • in clause W., for the words “fixed assets”, the words “Property, Plant and Equipment” shall be substituted;
  • in Division II, in Part I- Balance Sheet,-
  • under the heading “Equity and Liabilities”, for the words “Trade payables” at both the places where they occur, the following shall be substituted, namely:—
“Trade Payables:-
  • total outstanding dues of micro enterprises and small enterprises; and
  • total outstanding dues of creditors other than micro enterprises and small ”;
  • under the heading “Statement of Changes in Equity”, under sub-heading “B. Other Equity”,-
    • for the words “Securities Premium Reserve”, the words “Securities Premium” shall be substituted;
    • The “Note” shall be renumbered as clause (i) thereof and after clause (i) as so renumbered, the following clause shall be inserted, namely:-
“(ii) A description of the purposes of each reserve within equity shall be disclosed in the Notes.”;
  • in the “Notes”, under the heading “General Instructions for Preparation of Balance Sheet”,-
  • in paragraph 6,-
  • under the heading “A. Non-Current Assets”,-
  • under sub-heading “VII. Trade Receivables”, for item (i), the following shall be substituted, namely:—
“(i) Trade Receivables shall be sub-classified as:
  • Trade Receivables considered good - Secured;
  • Trade Receivables considered good - Unsecured;
  • Trade Receivables which have significant increase in Credit Risk; and
  • Trade Receivables - credit ”;
  • under sub-heading “VIII. Loans”, for item (ii), the following shall be substituted, namely:— “(ii) Loans Receivables shall be sub-classified as:
    • Loans Receivables considered good - Secured;
    • Loans Receivables considered good - Unsecured;
    • Loans Receivables which have significant increase in Credit Risk; and
    • Loans Receivables - credit impaired,”;
  • under the heading “B. Current Assets”,-
    • under sub-heading “III. Trade Receivables”, for item (i) the following shall be substituted, namely:—
“(i) Trade Receivables shall be sub-classified as:
  • Trade Receivables considered good - Secured;
  • Trade Receivables considered good - Unsecured;
  • Trade Receivables which have significant increase in Credit Risk; and
  • Trade Receivables - credit ”;
  • under sub-heading “V. Loans”, for item (ii), the following shall be substituted, namely:— “(ii) Loans Receivables shall be sub-classified as:
    • Loans Receivables considered good - Secured;
    • Loans Receivables considered good - Unsecured;
    • Loans Receivables which have significant increase in Credit Risk; and
    • Loans Receivables - credit ”;
  • after the heading “F. Current Liabilities” and the entries relating thereto, the following shall be inserted, namely:—
“FA. Trade Payables
The following details relating to micro, small and medium enterprises shall be disclosed in the notes:-
  • the principal amount and the interest due thereon (to be shown separately) remaining unpaid to any supplier at the end of each accounting year;
  • the amount of interest paid by the buyer in terms of section 16 of the Micro, Small and Medium Enterprises Development Act, 2006 (27 of 2006), along with the amount of the payment made to the supplier beyond the appointed day during each accounting year;
  • the amount of interest due and payable for the period of delay in making payment (whic h has been paid but beyond the appointed day during the year) but without adding the interest specified under the Micro, Small and Medium Enterprises Development Act, 2006;
  • the amount of interest accrued and remaining unpaid at the end of each accounting year; and
  • the amount of further interest remaining due and payable even in the succeeding years, until such date when the interest dues above are actually paid to the small enterprise, for the purpose of disallowance of a deductible expenditure under section 23 of the Micro, Small and Medium Enterpris es Development Act,
Explanation.- The terms ‘appointed day’, ‘buyer’, ‘enterprise’, ‘micro enterprise’, ‘small enterprise’ and ‘supplier’, shall have the same meaning as assigned to them under clauses (b), (d), (e), (h), ( m) and ( n) respectively of section 2 of the Micro, Small and Medium Enterprises Development Act, 2006.”.
  • in paragraph 9, after the words “For instance,”, the words “plain vanilla” shall be inserted;
  • after Division II and the entries relating thereto, the following shall be inserted, namely:-
 
“Division III
 
Financial Statements for a Non-Banking Financial Company  (NBFC) whose financial statements are drawn up in compliance of the Companies (Indian Accounting Standards) Rules, 2015.
 
GENERAL INSTURCTIONS FOR PREPARATION OF FINANCIAL STATEMENTS OF A NON- BANKING FINANCIAL COMPANY (NBFC) THAT IS REQUIRED TO COMPLY WITH INDIAN ACCOUNTING STANDARDS (Ind AS)

  1. Every Non-Banking Financial company as defined in the Companies (Indian Accounting Standards) (Amendment) Rules, 2016 to which Indian Accounting Standards apply, shall prepar e its financial statements in accordance with this Schedule or with such modification as may be required under certain
  1. Where compliance with the requirements of relevant Act, Regulations, Guidelines or Circulars issued by the relevant regulator from time to time including Indian Accounting Standards (Ind  AS) (except the option of presenting assets and liabilities in accordance with current, non-current classification as provided by relevant Ind AS) as applicable to the NBFCs require any change in treatment or disclosure including addition, amendment, substitution or deletion in the head or sub-head or any changes inter se, in the financial statements or statements forming par t ther eof , the same shall be made and the requirements under this Schedule shall stand  modified
  1. The disclosure requirements specified in this Schedule are in addition to and not in substitution of the disclosure requirements specified in the Indian Accounting Additional disclos ur es specified in the Indian Accounting Standards shall be made in the Notes or by way of additional statement or statements unless required to be disclosed on the face of the Financial Statements. Similarly, all other disclosures as required by the Companies Act, 2013  shall be made in  the  Notes in addition to the requirements set out in this Schedule.
  1. (i) Notes shall contain information in addition to that presented in the Financial Statements and shall provide where required-
  • narrative descriptions or disaggregations of items recognised in those statements; and
  • information about items that do not qualify for recognition in those
(ii) Each item on the face of the Balance Sheet, Statement of Changes in Equity and Statement of Profit and Loss shall be cross-referenced to any related information in the Notes. In preparing the Financial Statements including the Notes, a balance shall be maintained between providing excessive details that may not assist users of Financial Statements and not providing important information as a result of too much aggregation.
 
  1. Depending upon the total income of the NBFC, the figures appearing in the Financial Statements shall be rounded off as below:
Total Income Rounding off
(i) less than one hundred crore rupees To the nearest hundreds, thousands, lakhs ormillions, or decimals thereof.
(ii) one hundred crore rupees or more To the nearest, lakhs, millions or crores, ordecimals thereof.
 
Once a unit of measurement is used, it should be used uniformly in the Financial Statements.

  1. Financial Statements shall contain the corresponding amounts (comparatives) for the immediately preceding reporting period for all items shown in the Financial Statements including Notes exc ept in the case of first Financial Statements after
  1. Financial Statements shall disclose all ‘material’ items, i.e., the items if they could, individually or collectively, influence the economic decisions that users make on the basis of the financial  Materiality depends on the size or nature of the item or a combination of both,  to be  judged in the particular circumstances.
  1. For the purpose of this Schedule, the terms used herein shall have the same meanings assigned to them in Indian Accounting
  1. Where any Act, Regulation, Guidelines or Circulars issued by the relevant  regulators  from time to time requires specific disclosures to be made in the standalone financial statements of an NBFC, the said disclosures shall be made in addition to those required under this
  1. The NBFCs preparing financial statements as per this Schedule may change the order of presentation of line items on the face of financial statements or order of line items within the schedules in order of liquidity, if appropriate, considering the operations performed by the
 
Note: This Schedule sets out the minimum requirements for disclosure on the face of the Financial Statements, i.e., Balance Sheet, Statement of Changes in Equity for the period, the Statement of Profit and Loss for the period (The term ‘Statement of Profit and Loss’ has the same meaning as ‘ Pr ofit and Los s Account’) and Notes. Cash flow statement shall be prepared, where applicable, in accordance with the requirements of the relevant Indian Accounting Standard.
 
Line items, sub-line items and  sub-totals shall be presented as an addition or substitution on the face of  the Financial Statements when such presentation is relevant to an understanding of the NBFC’s f inanc ial position or performance or to cater to categories of NBFCs as prescribed by the relevant regulator or sector-specific disclosure requirements or when required for compliance with the amendments to the relevant statutes or under the Indian Accounting Standards.
 
PART I –BALANCE SHEET
 
Name of the Non-Banking Financial Company…………………….
Balance Sheet as at ………………………
(Rupees in…………)
  Particulars NoteNo. Figures as at theend      of           current reporting period Figures as at the end ofthe previous reporting period
  1   2 3
  ASSETS      
(1) Financial Assets      
(a) Cash and cash equivalents      
(b) Bank Balance other than (a) above      
(c) Derivative financial instruments      
(d) Receivables      
  (I) Trade Receivables      
  (II) Other Receivables      
(e) Loans      
(f) Investments      
(g) Other Financial assets (to be specified)      
         
(2) Non-financial Assets      
(a) Inventories      
(b) Current tax assets (Net)      
(c) Deferred tax Assets (Net)      
(d) Investment Property      
(e) Biological assets other than bearer plants      
(f) Property, Plant and Equipment      
(g) Capital work-in-progress      
(h) Intangible assets under development      
(i) Goodwill      
 
(j) Other Intangible assets      
(k) Other non-financial assets (to be specified)      
  Total Assets      
  LIABILITIES AND EQUITY      
  LIABILITIES      
(1) Financial Liabilities      
(a) Derivative financial instruments      
(b) Payables      
  (I)Trade Payables      
   (i) total outstanding dues of micro enterprises and smal enterprises      
  (ii) total outstanding dues of creditors other than microenterprises and small enterprises      
  (II) Other Payables      
  (i) total outstanding dues of micro enterprises and smalenterprises      
  (ii) total outstanding dues of creditors other than microenterprises and small enterprises      
(c) Debt Securities      
(d) Borrowings (Other than Debt Securities)      
(e) Deposits      
(f) Subordinated Liabilities      
(g) Other financial liabilities(to be specified)      
 
(2) Non-Financial Liabilities      
(a) Current tax liabilities (Net)      
(b) Provisions      
(c) Deferred tax liabilities (Net)      
(d) Other non-financial liabilities(to be specified)      
         
(3) EQUITY      
(a) Equity Share capital      
(b) Other Equity      
  Total Liabilities and Equity      
See accompanying notes to the financial statements
 
 
STATEMENT OF CHANGES IN EQUITY
Name of the Non-Banking Financial Company…………………….
Statement of Changes in Equity for the period ended ……………………
(Rupees in……………..)
 
A.     Equity Share Capital
 
Balance  at the beginning  of thereporting period Changes in  equity share capital duringthe year Balance at the end of the reporting period
 xxx xxx  xxx
 
 
  1. Other Equity
 
    Share application moneypending allotment   Equity compone nt of compoun d       financial instruments Reserves and Surplus   Debt instrumen ts     through Other Compreh ensiveIncome   Equity Instrume nts through Other Compreh ensiveIncome   Effective portion of Cash Flow Hedges   Reval uation Surplu s   Exchange differences on translating the financial statements of a foreign operation   Other items of Other Compreh ensive Income (specifynature)   Money receive d    against share warrant s   Total
 Statutor y    Reserve s  Capital Reserve  Securitie s      Premium  Other Reserves (specify nature)  Retained Earnings
Balance at the beginning of the reporting period                              
Changes in accountin g policy/pri or period errors                              
 
Restated balanc e at the beginni ng of the reporti ng period                              
TotalComprehe nsive Income for the year                              
Dividends                              
Transfer to retained earnings                              
Any otherchange (to be specified)                              
Balance at the end of the reportingperiod                              
 
Note:
  • Remeasurement of defined benefit plans and fair value c hanges relating to own credit risk of financial liabilities designated at fair value through profit or loss shall be recognised as a part of retained earnings with separate disclosure of such items alongwith the relevant amounts in the
  • A description of the purpose of each reserve within equity shall be disclosed in the
Notes
 
GENERAL INSTRUCTIONS FOR PREPARATION OF BALANCE SHEET
 
A Non-Banking Financial company shall disclose the following in the notes to accounts:
 
  • Cash and cash equivalents: Cash and cash equivalents shall be classified as:
 
  • Cash on hand
  • Balances with Banks (of the nature of cash and cash equivalents);
  • Cheques, drafts on hand;and
  • Others (specify nature).
 
Cash and Bank balances: The following disclosures with regard to cash and bank balances shall be made:
 
  • Earmarked balances with banks (for example, for unpaid dividend) shall be separately
  • Balances with banks to the extent held as margin money or security against the borrowings, guarantees, other commitmen ts shall be disclosed
  • Repatriation restrictions, if any, in respect of cash and bank balances shall be separately stated.
 
(B)              Derivative financial Instruments
 
  • Explain use of derivatives
  • Cross-reference to Financial Risks section for management of risks arising from derivatives
 
 Part I (Current Year) (Previous Year)
Notional amounts Fair Value - Assets Fair Value - Liabilities Notional amounts Fair Value - Assets Fair Value - Liabilities
(i)Currencyderivatives:            
 
-Spot and forwards            
-Currency Futures            
-Currency swaps            
-Options purchased            
-Options sold(written)            
-Others            
Subtotal (i)            
             
(ii)Interest ratederivatives            
-Forward RateAgreements and Interest Rate Swaps            
-Optionspurchased            
-Options sold (written)            
-Futures            
-Others            
Subtotal(ii)            
(iii)Credit derivatives            
(iv)Equity linkedderivatives            
(v)Otherderivatives (Please specify)            
             
Total Derivative            
 
FinancialInstruments (i)+(ii)+(iii)+(iv)+ (v)            
 Part II            
Included in above(Part I) are derivatives held for hedging and risk management purposes as follows:            
(i)Fair valuehedging:            
- Currencyderivatives            
- Interest rate derivatives            
- Credit derivatives            
- Equity linkedderivatives            
- Others            
Subtotal (i)            
(ii)Cash flowhedging:            
- Currencyderivatives            
- Interest rate            
 
derivatives            
- Credit derivatives            
- Equity linkedderivatives            
- Others            
Subtotal (ii)            
(iii)Netinvestment hedging:            
(iv)Undesignated Derivatives            
Total DerivativeFinancial Instruments (i)+ (ii)+(iii)+(iv)            
 
With respect to hedges and hedge accounting, NBFCs may provide a description in accordance with the requirements of Indian Accounting Standards, of how derivatives are used for hedging, explain types of hedges recognized for accounting purposes and their usage/applic ation by the entity.
 
(C)    Receivables:
 
  • Receivables shall be sub-classified as:
    • Receivables considered good - Secured;
    • Receivables considered good - Unsecured;
    • Receivables which have significant increase in Credit Risk; and
    • Receivables - credit impaired
 
  • Allowance for impairment loss allowance shall be disclosed under the relevant heads
 
  • Debts due by directors or other officers of the NBFC or any of them either severally or jointly with any other person or debts due by firms including limited liability partnerships (LLPs), private companies respectively in which any director is a partner or a director or a member should be separately
 
(D)  Loans
  (Current Year) (Previous Year)
Amort ised cost At Fair Value Subtotal Total Amort ised cost At Fair Value Subtotal Total
Through Other Compre hensive Income Through profit or loss Designated     at fair value throughprofit or loss Through Other Compre hensive Income Throughprofit             or loss Designated at fair value through profit or loss
(1) (2) (3) (4) (5=2+3+4) (6=1+5) (7) (8) (9) (10) (11=8+9+10) (12=(7)+ (11)
Loans                        
(A)(i)        Bills Purchasedand     Bills Discounted                        
(ii)    Loansrepayable on Demand                        
(iii)      TermLoans                        
(iv)Leasing                        
(v)Factoring                        
(vi) Others (to         bespecified)                        
Total (A) - Gross                        
Less:Impai                        
 
rment lossallowance                        
Total   (A)- Net                        
                         
(B)(i) Secured by tangible assets                        
(ii)Secured           byintangible assets                        
(iii)Covered by Bank/Government Guarantees                        
(iv)Unsecured                        
Total (B)-Gross                        
Less:Impairmen t          lossallowance                        
Total (B)-Net                        
(C)        (I)Loans    in India                        
(i)    PublicSector                        
(ii) Others                        
 
(to         bespecified)                        
Total (C)- Gross                        
Less: Impairmen t          lossallowance                        
Total(C) (I)-Net                        
(C)(II)Loansoutside India                        
Less: Impairmen t          lossallowance                        
Total   (C) (II)- Net                        
Total C(I)and C(II)                        
 
  • Investments
 
Investments
    Investments (Current Year) (Previous Year)
 Amo rtise d cost At Fair Value     Su b- Total Othe rs* Total  Amortis ed cost At Fair Value      Sub- Tota l Oth ers* Tota l
ThroughOther Compreh ensive Income Throughprofit or loss Designated at fair value throu gh profitor loss ThroughOther Compreh ensive Income Throughprofit or loss Designated at fair value through profit  or loss
                             
 
  (1) (2) (3) (4) (5)=(2)+(3)+(4)   (6)  (7)=(1)+(5)+(6)   (8) (9) (10) (11) (12)=(9)+(10)+(11)   (13) (14)=(8)+(12)+(13)
Mutual funds                            
Government securities                            
Otherapproved securities                            
Debt securities                            
Equityinstruments                            
Subsidiaries                            
Associates                            
JointVentures                            
Others(specify)                            
Total – Gross (A)                            
(i)Investments outside India                            
(ii)Investments in India                            
Total (B)                            
Total (A) to tally with (B)                            
Less:Allowancefor Impairment                            
 
loss (C)                            
Total  – NetD= (A)-(C)                            
* Other basis of measurement such as cost may be explained as a footnote
 
  • Investment Property
 
A reconciliation of the gross and net carrying amounts of each class of property at the beginning and end of the reporting period showing additions, disposals, acquisitions through business  combinations  and other adjustments and the related depreciation and impairment losses or reversals shall be disclosed separately.
 
(G)  Biological Assets other than bearer plants:
 
A reconciliation of the carrying amounts of each class of assets at the beginning and end of the reporting period showing additions, disposals, acquisitions through business combinations and other adjustments shall be disclosed separately.
 
 
(H)Property, Plant and Equipment
 
  • Classification shall be given as:
    • Land
    • Buildings
    • Plant and Equipment
    • Furniture and Fixtures
    • Vehicles
    • Office equipment
    • Bearer Plants
    • Others (specify nature)
 
  • Assets under lease shall be separately specified under each class of
 
  • A reconciliation of the gross and net carrying amounts of each class of assets at the beginning and end of the reporting period showing additions, disposals, acquisitions through business combinations and other adjustments and the related depreciation and impairment los s es or reversals shall be disclosed
 
(I)     Goodwill
 
A reconciliation of the gross and net carrying amount of goodwill at the beginning and end of  the reporting period showing additions, impairments, disposals and other adjustments.
 
(J)  Other Intangible assets
  • Classification shall be given as:
  • Brands or trademarks
  • Computer software
  • Mastheads and publishing titles
  • Mining rights
  • Copyrights, patents, other intellectual property rights, services and operating rights
  • Recipes, formulae, models, designs and prototypes
  • Licenses and franchises
  • Others (specify nature)
  • A reconciliation of the gross and net carrying amounts of each class of assets at the beginning and end of the reporting period showing additions, disposals, acquisitions through business combinations and other adjustments and the related amortization and impairment losses or reversals shall be disclosed
(K)    Payables
 
The following details relating to Micro, Small and Medium Enterprises shall be disclosed:
 
  • the principal amount and the interest due thereon (to be shown separately) remaining unpaid to any supplier at the end of each accounting year;
  • the amount of interest paid by the buyer in terms of section 16 of the Micro, Small and Medium Enterprises Development Act, 2006, along with the amount of the payment made to the s upplier beyond the appointed day during each accounting year;
  • the amount of interest due and payable for the period of delay in making payment (which have
been paid but beyond the appointed day during the year) but without adding the interest specif ied under the Micro, Small and Medium Enterprises Development Act, 2006;
  • the amount of interest accrued and remaining unpaid at the end of each accounting year; and
  • the amount of further interest remaining due and payable even in the succeeding years, until suc h date when the interest dues above are actually paid to the small enterprise, for the purpose of disallowance of a deductible expenditure under section 23 of the Micro, Small and Medium Enterprises Development Act,
 
Explanation.- The terms ‘appointed day’, ‘buyer’, ‘enterprise’, ‘micro enterprise’, ‘small enter pr is e’ and ‘supplier’, shall have the same meaning assigned to those under claus es (b), (d), (e), (h), (m) and
(n) respectively of section 2 of the Micro, Small and Medium Enterprises Development Act, 2006.”
 
 
(L)  Debt Securities
 
  (Current Year) (Previous Year)
At Amortised Cost At Fair Value Through profit or loss Designate d at fair value through profit or loss Total At    Amortised Cost At Fair Value Through profit or loss Designated at fair value through profit or loss Total
(1) (2) (3) (4)=(1)+(2)+(3) (5) (6) (7) (8)=(5)+(6)+(7)
Liability component of compound financialinstrument                
s                
Others (Bonds/Debenture etc.)                
Total (A)                
Debtsecurities in India                
Debt securities outsideIndia                
Total (B) to tallywith (A)                
 
  • bonds or debentures (along with the rate of interest, and particulars of redemption or conversion, as the case may be) shall be stated in descending order of maturity or conversion, starting from earliest redemption or conversion date, as the c as e may be. Where bonds/debentures are redeemable by installments, the date of maturity for this purpose must be reckoned as the date on which the first installment becomes due;
  • particulars of any redeemed bonds or debentures which the NBFC has pow er to reissue shall be
 
(M)    Borrowings (Other than Debt Securities)
 
  (Current Year) (Previous Year)
  AtAmortised Cost At         fairvalue Through profit or loss Designatedat fair value through profit                or loss Total AtAmortised Cost At         fairvalue Through profit or loss Designatedat             fairvalue through profit                or loss Total
  (1) (2) (3) (4)=(1)+(2)+(3) (1) (2) (3) (4)=(1)+(2)+(3)
(a)Term loans                
(i)from banks                
(ii)from otherparties                
(b)Deferredpayment liabilities                
(c)Loans fromrelated parties                
(d) Finance leaseobligations                
(e)Liabilitycomponent of compoundfinancial instruments                
(f)Loans repayable on demand                
 
(i)from banks                
(ii)from                    other parties                
(g)    Other loans (specify nature)                
Total (A)                
Borrowings       inIndia                
Borrowingsoutside India                
Total (B) to tallywith (A)                
 
  • Borrowings shall further be sub-classified as secured and unsecured. Nature of security shall be specified separately in each
  • Where borrowings have been guaranteed by directors or others, the aggregate amount of such borrowings under each head shall be disclosed;
  • terms of repayment of term loans and other loans shall be stated; and
  • period and amount of default as on the balance sheet date in repayment of borrowings and interest shall be specified separately in each
 
(N)    Deposits
 
  (Current Year) (Previous Year)
AtAmortised Cost At fairvalue through profit or loss Designatedat fair value throughprofit or loss Total AtAmortised Cost At fairvalue through profit or loss Designatedat fair value throughprofit or loss Total
  (1) (2) (3) (4)=(1)+(2)+(3) (5) (6) (7) (8)=(5)+(6)+(7)
Deposits                
(i) PublicDeposits                
(ii) From Banks                
(iii)From Others                
Total                

  • Subordinated Liabilities
  (Current Year) (Previous Year)
At Amortised Cost At fair value through profit or loss Designated at fair value through profit or loss Total At    Amortised Cost At fair value through profit or loss Designated at fair value through profit or loss Total
(1) (2) (3) (4)=(1)+(2)+(3) (5) (6) (7) (8)=(5)+(6)+(7)
Perpetual DebtInstruments to the                
 
extent that do not qualify as equity                
Preference Shares other than those that qualify as Equity                
Others (specifying the nature and type of instrument issued)                
Total (A)                
                 
Subordinated Liabilities in India                
SubordinatedLiabilities outside India                
Total (B) to tallywith (A)                
 
  • Other Financial Liabilities (to be specified): Other Financial liabilities shall be classified as-
  • Interest accrued;
  • Unpaid dividends;
  • Application money received for allotment of securities to the extent refundable and interest accrued thereon;
  • Unpaid matured deposits and interest accrued thereon;
  • Unpaid matured debentures and interest accrued thereon;
  • Margin money (to be specified);and
  • Others (specify nature)
  • Provisions: The amounts shall be classified as-
  • Provision for employee benefits; and
  • Others (specify nature)
 
 
(R)    Other Non-financial liabilities (to be specified):
 
  • Revenue received in advance;
  • Other advances (Specify nature); and (c)Others (specify nature).
  • Equity Share Capital : For each class of equity share capital:
 
(a)   the number and amount of shares authorized;
  • the number of shares issued, subscribed and fully paid, and subscribed but not fully paid;
  • par value per share;
  • a reconciliation of the number of shares outstanding at the beginning and at the end of the period;
  • the rights, preferences and restrictions attaching to each class of shares including restrictions on the distribution  of dividends and the repayment of capital;
  • shares in respect of each class in the company held by its holding company or its ultimate holding company including shares
held by or by subsidiaries or associates of the holding company or the ultimate holding company in aggregate;
  • shares in the company held by each shareholder holding more than five percent shares specifying the number of shares held;
  • shares reserved for issue under options and contracts/commitments for the sale of shares or disinvestment, including the terms and amounts;
  • For the period of five years immediately preceding the date at which the Balance Sheet is prepared:
  • Aggregate number and class of shares allotted as fully paid up pursuant to contract without payment being received in cash;
  • Aggregate number and class of shares allotted as fully paid up by way of bonus shares; and
  • Aggregate number and class of shares bought back;
  • terms of any securities convertible into equity shares issued along with the earliest date of conversion in descending order starting from the farthest such date;
  • calls unpaid (showing aggregate value of calls unpaid by directors and officers);
  • forfeited shares (amount originally paid up)
  • An NBFC shall disclose information that enables users of its financial statements to evaluate the NBFC’s objectives, policies and processes for managing
 
(T)              Other Equity
 
  • Other Reserves’ shall be classified in the notes as:
  • Capital Redemption Reserve;
  • Debenture Redemption Reserve;
  • Share Options Outstanding Account;
  • Statutory Reserves; and
  • Others – (specify the nature and purpose of each reserve and the amount in respect thereof); (Additions and deductions since last balance sheet to be shown under each of the specified heads)
  • Retained Earnings represents surplus e. balance of the relevant column in the Statement of Changes in Equity;
  • A reserve specifically represented by earmarked investments shall disclose the fact that it is so represented;
  • Debit balance of Statement of Profit and Loss shall be shown as a negative figure under the head ‘retained earnings’. Similar ly, the balance of ‘Other Equity’, after adjusting negative balance of retained earnings, if any, shall be shown under the head ‘Other Equity’ even if the resulting figure is in the negative;
  • Under the sub-head ‘Other Equity’, disclosure shall be made for the nature and amount of each item; and
  • Under the sub-head ‘Other Equity’, disclosure shall be made for conditions or restrictions for distribution attached to s tatutory
  • Contingent Liabilities and commitments (to the extent not provided for)
  • Contingent Liabilities   shall be classified as:
  • Claims against the company not acknowledged as debt;
  • Guarantees excluding financial guarantees; and
  • Other money for which the company is contingently liable
  • Commitments shall be classified as:
    • Estimated amount of contracts remaining to be executed on capital account and not provided for;
    • Uncalled liability on shares and other investments partly paid;
    • Other commitments (specify nature).
  • The amount of dividends proposed to be distributed to equity and preference shareholders for the period and the related amount per share shall be disclosed separately. Arrears of fixed cumulative dividends on irredeemable preference shares shall also be disclosed
  • Where in respect of an issue of securities made for a specific purpose the whole or part of amount has not been used for the specific pur pose at the Balance Sheet date, there shall be indicated by way of note how such unutilized amounts have been used or
 
(X)  Other Classification related General Instructions
 
  1. When an NBFC applies an accounting policy retrospectively or makes a restatement of items in the financial statements or when it reclassifies items in its financial statements, the NBFC shall attach to the Balance Sheet, a “Balance Sheet” as at the beginning of the earliest comparative period
  1. Share application money pending allotment shall be classified into equity or liability in accordance with relevant Indian Acc ounting Share application money to the extent not refundable shall be shown under the head Equity and share application money to the extent refundable shall be separately shown under ‘Other financial liabilities’.
  1. Preference shares including premium received on issue, shall be classified and presented as ‘Equity’ or ‘Liability’ in accordance w ith the requirements of the relevant Indian Accounting Standards. Accordingly, the disclosure and presentation requirements in  this regard applicable to the relevant class of equity or liability shall be applicable mutatis mutandis to the preference shares. For instance, plain vanila redeemable preference shares shall be classified and presented under ‘liabilities’ as ‘borrowings’ or ‘subordinated liability’ and the disclosure requirements in this regard applicable to such borrowings shall be applicable mutatis mutandis  to redeemable preference
  1. Compound financial instruments such as convertible debentures, where split into equity and liability components, as per the requirements of the relevant Indian Accounting Standards, shall be classified and presented under the relevant heads in  ‘‘Liabilities  and Equity’.
  1. Regulatory Deferral Account Balances shall be presented in the Balance Sheet in accordance with the relevant Indian Accountin g Standards.
 
PART II – STATEMENT OF PROFIT AND LOSS
 
Name of the Non-Banking Financial Company…………………….
Statement of Profit and Loss for the period ended ………………………
(Rupees in ……………..)
  Particulars Note No. Figures  for thecurrent reportingperiod Figures  for theprevious reportingperiod
  Revenue from operations      
(i) Interest Income      
(ii) Dividend Income      
(iii) Rental Income      
(iv) Fees and commission Income      
(v) Net gain on fair value changes      
(vi) Net gain on derecognition of financial instrumentsunder amortised cost category      
(vii) Sale of products(including Excise Duty)      
(viii) Sale of services      
(ix) Others (to be specified)      
(I) Total Revenue from operations      
         
(II) Other Income (to be specified)      
(III) Total Income (I+II)      
         
  Expenses      
(i) Finance Costs      
(ii) Fees and commission expense      
(iii) Net loss on fair value changes      
(iv) Net loss on derecognition of financial instruments under amortised cost category      
(v) Impairment on financial instruments      
(vi) Cost of materials consumed      
 
(vii) Purchases of Stock-in-trade      
(viii) Changes in Inventories of finished goods, stock-in- trade and work-in- progress      
(ix) Employee Benefits Expenses      
(x) Depreciation, amortization and impairment      
(xi) Others expenses (to be specified)      
(IV ) Total Expenses (IV)      
         
(V ) Profit / (loss) before exceptional items and tax (III-IV)      
(VI ) Exceptional items      
(VII ) Profit/(loss) before tax (V -VI )      
(VIII) Tax Expense:(1)   Current Tax(2)     Deferred Tax      
(IX) Profit  /  (loss)   for the period from continuing operations(VII-VIII)      
(X) Profit/(loss) from discontinued operations      
(XI) Tax Expense of discontinued operations      
(XII) Profit/(loss) from discontinued operations(Aftertax) (X-XI)      
(XIII) Profit/(loss) for the period (IX+XII)      
         
(XIV) Other Comprehensive Income      
  (A) (i) Items that will not be reclassified to profit orloss(specify items and amounts)      
 
         
  (ii) Income tax relating to items that will not be reclassified to profit or loss      
  Subtotal (A)      
  (B) (i) Items that will be reclassified to profit orloss(specify items and amounts)      
  (ii) Income tax relating to items that will bereclassified to profit or loss      
  Subtotal (B)      
  Other Comprehensive Income (A + B)      
         
(XV) Total Comprehensive Income for the period(XIII+XIV) (Comprising Profit (Loss) and other Comprehensive Income for the period)      
         
(XVI) Earnings per equity share (for continuing operations)      
  Basic (Rs.)      
  Diluted (Rs.)      
         
(XVII) Earnings per equity share (for discontinuedoperations)      
  Basic (Rs.)      
  Diluted (Rs.)      
         
(XVIII) Earnings per equity share (for continuing and discontinued operations)      
  Basic (Rs.)      
  Diluted (Rs.)      
See accompanying notes to the financial statements
Notes
 
GENERAL INSTRUCTIONS FOR PREPARATION OF STATEMENT OF PROFIT AND LOSS
  1. The provisions of this Part shall apply to the income and expenditure account, in like manner as they apply to a Statement of Profit and
  1. The Statement of Profit and Loss shall include:
    • Profit or loss for the period;
    • Other Comprehensive Income for the
The sum of (A) and (B) above is ‘Total Comprehensive Income’.
 
3.  Interest Income
  (Current Year) (Previous Year)
Particulars On On Financial Interest On On Interest
  Financial Assets Income Financial Financial Income
  Assets measured at on Assets Assets on
  measured at Amortised Financial measured measured at Financial
  fair value Cost Assets at fair Amortised Assets
  through   classified value Cost classified
  OCI   at fair through   at fair
      value OCI   value
      through     through
      profit or     profit or
      loss     loss
Interest on Loans            
Interest income from investments            
Interest on depositswith Banks            
Other interestIncome            
Total            
 
 
  1. Net gain/ (loss) on fair value changes*
 
Particulars (Current Year) (Previous Year)
 (A) Net gain/ (loss) on financialinstruments at fair value through profit or loss    
 (i) On trading portfolio    
- Investments    
- Derivatives    
 - Others    
 (ii) On financial instruments designated at fair value throughprofit or loss    
(B) Others ( to be specified)    
Total Net gain/(loss) on fair value changes (C)    
Fair Value changes: -Realised-Unrealised    
Total Net gain/(loss) on fair value changes(D) to tally with (C)    
*Fair value changes in this schedule are other than those arising on account of accrued interest income/expense.
 
5.  Other Income (to be specified)
 
Particulars (Current Year) (Previous Year)
 Net gain/(loss) on ineffective portion of hedges    
Net gain/(loss) on derecognition of property, plantand equipment    
Net gain or loss on foreign currency transaction and translation (other than considered as finance cost)(to be specified)    
Others ( to be specified)*    
Total    
 
* Any item under the subhead ‘Others’ which exceeds one per cent of the total income to be presented separately.
 
6.  Finance Costs
 
Particulars (Current Year) (Previous Year)
  On On Financial On Financial On Financial
Financial liabilities liabilities liabilities
liabilities measured at measured at measured at
measured at Amortised Cost fair value Amortised
fair value   through Cost
through   profit or loss  
profit or      
loss      
Interest on deposits        
Interest on borrowings        
Interest on debt securities        
Interest on subordinated liabilities        
Other interest expense        
Total        
 
 
  1. Employee Benefits Expenses
 
Particulars (Current Year) (Previous Year)
Salaries and wages    
Contribution to provident and other funds    
Share Based Payments to employees    
Staff welfare expenses    
Others (to be specified)    
Total    
 
 
  1. Impairment on financial instruments
 
  (Current Year) (Previous Year)
Particulars On Financial On Financial On Financial On Financial
  instruments instruments instruments instruments
  measured at fair measured at measured at measured at
  value through OCI Amortised fair value Amortised
    Cost through OCI Cost
Loans        
Investments        
Others (to be specified)        
Total        
 
 
  1. Other expenses (to be specified)
 
Particulars (Current Year) (Previous Year)
Rent, taxes and energy costs    
Repairs and maintenance    
Communication Costs    
Printing and stationery    
Advertisement and publicity    
Director’s fees, allowances and expenses    
Auditor’s fees and expenses    
Legal and Professional charges    
Insurance    
Other expenditure    
Total    
* Any item under the subhead ‘Others expenditure’ which exceeds one per cent of the total income to be presented separately.
10.  Other Comprehensive Income shall be classified into-
 
  • Items that will not be reclassified to profit or loss
    1. Changes in revaluation surplus;
    2. Remeasurements of the defined benefit plans;
  • Equity Instruments through Other Comprehensive Income;
  1. Fair value changes relating to own credit risk of financial liabilities designated at fair value through profit or loss;
  2. Share of Other Comprehensive Income in Associates and Joint Ventures, to the extent not to be classified into profit or loss; and
  3. Others (specify nature).
 
  • Items that will be reclassified to profit or loss;
    1. Exchange differences in translating the financial statements of a foreign operation;
    2. Debt Instruments through Other Comprehensive Income;
  • The effective portion of gains and loss on hedging instruments in a cash flow hedge;
  1. Share of Other Comprehensive Income in Associates and Joint Ventures, to the extent to be classified into profit or loss; and
  2. Others (specify nature).
 
  1. Additional Information: An NBFC shall disclose by way of notes, additional information regarding aggregate expenditure and income on the following items:
 
  1. Depreciation, amortisation and impairment
  2. payments to the auditor as (a) auditor, (b) for taxation matters, (c) for company law matters,
    • for other services, (e) for reimbursement of expenses;
  • in case of NBFCs covered under section 135, amount of expenditure incurred on corporate social responsibility activities; and
  1. details of items of exceptional nature
PART  III-    GENERAL INSTRUCTIONS FOR THE PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS
 
  • Where a Non-Banking Financial Company (NBFC) is required to prepare Consolidated Financ ial Statements, i.e., consolidated balance sheet, consolidated statement of changes in equity and consolidated statement of profit and loss, the NBFC shall mutatis mutandis follow the requirements of this Schedule as applicable to an NBFC in the preparation of balance sheet, statement of changes in equity and statement of profit and loss. However, where the consolidated financial statements contains elements pertaining to NBFCs and other than NBFCs, mixed  bas is of presentation may be followed for consolidated financial statements where both kinds of operations are significant. In addition, the consolidated financial statements shall disclose the information as per the requirements specified in the applicable Indian Accounting Standards notified under the Companies (Indian Accounting Standards)  Rules  2015,  including  the following, namely:-
 
  • Profit or loss attributable to ‘non-controlling interest’ and to ‘owners of the parent’ in the statement of profit and loss shall be presented as allocation for the period. Further, ‘total comprehensive income’ for the period attributable to ‘non-controlling interest’ and to ‘owners of the parent’ shall be presented in the statement of profit and loss as alloc ation f or the period. The aforesaid disclosures for ‘total comprehensive income’ shall also be made in the statement of changes in In addition to the disclosure requirements in the Indian Accounting Standards, the aforesaid disclosures shall also be made in respect of ‘other comprehensive income’.
 
  • ‘Non-controlling interests’ in the Balance Sheet and in the Statement of Changes in Equity, within equity, shall be presented separately from the equity of the ‘owners of the parent’.
 
  • Investments accounted for using the equity
 
  • In Consolidated Financial Statements, the following shall be disclosed by way of additional information:
 
Name    of             theentity    in              the Group Net Assets, i.e., total assets minus totalliabilities Share in profit or loss Share             in                      othercomprehensive income Share     in              totalcomprehensive income  
  As       %     ofconsolidated net assets Amount  
As % of consolidated profit or loss Amount As     % of consolidat ed     other comprehen siveincome Amount As % of total compre hensive income Amount  
Parent                  
Subsidiaries  
Indian  
1.  
2.  
3.  
.  
.  
Foreign  
1.  
2.  
3.  
.  
.  
Non-controlling  
Interests    in                      all  
subsidiaries  
Associates  
(Investment                     as  
per    the         equity  
method)  
 
Indian1.2.3...Foreign 1.2.3...Joint Ventures(as per the equity method)Indian 1.2.3...Foreign 1.2.3...                
Total        
 
  • All subsidiaries, associates and joint ventures (whether Indian or foreign) will be covered under consolidated financial
  • An entity shall disclose the list of subsidiaries or associates or joint ventures which have not been consolidated in the consolidated financial statements along with the reasons of not 
 
 
 Download Notification here:5cb2c65119c7d250bf455ede4c804744.pdf
 
 
 
 
 
 
 
 
 

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