Section 82 in The Companies (Indian Accounting Standards) Rules, 2015
82. If the asset or liability has a specified (contractual) term, a Level 2 input must be observable for substantially the full term of the asset or liability. Level 2 inputs include the following:
(a)quoted prices for similar assets or liabilities in active markets.(b)quoted prices for identical or similar assets or liabilities in markets that are not active.(c)inputs other than quoted prices that are observable for the asset or liability, for example:(i)interest rates and yield curves observable at commonly quoted intervals;(ii)implied volatilities; and(iii)credit spreads.(d)market-corroborated inputs.
