Section 31C in The Companies (Indian Accounting Standards) Rules, 2015
31C. If an entity elects to measure assets and liabilities at fair value and to use that fair value as the deemed cost in its opening Ind AS Balance Sheet because of severe hyperinflation (see paragraphs D26-D30), the entity's first Ind AS financial statements shall disclose an explanation of how, and why, the entity had, and then ceased to have, a functional currency that has both of the following characteristics:
(a)a reliable general price index is not available to all entities with transactions and balances in the currency.(b)exchange-ability between the currency and a relatively stable foreign currency does not exist.Interim financial reports
