Section 4(6) in The Companies (Indian Accounting Standards) Rules, 2015
(6)Indian company which is a subsidiary, associate, joint venture and other similar entities of a foreign company shall prepare its financial statements in accordance with 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).] if it meets the criteria as specified in sub-rule (1).
