Section 4(9) in The Companies (Indian Accounting Standards) Rules, 2015
(9)Once a company starts following the Indian Accounting Standards (Ind AS) [* * *] [Omitted 'either voluntarily or mandatorily' by Notification No. G.S.R. 365(E), dated 30.3.2016 (w.e.f. 16.2.2015).] on the basis of criteria specified in sub-rule (1), it shall be required to follow the Indian Accounting Standards (Ind AS) for all the subsequent financial statements even if any of the criteria specified in this rule does not subsequently apply to it.
