Section 42A in The Companies (Indian Accounting Standards) Rules, 2015
42A. [ When a party to a joint arrangement (as defined in Ind AS 111, Joint Arrangements) obtains control of a business that is a joint operation (as defined in Ind AS 111), and had rights to the assets and obligations for the liabilities relating to that joint operation immediately before the acquisition date, the transaction is a business combination achieved in stages. The acquirer shall therefore apply the requirements for a business combination achieved in stages, including remeasuring its previously held interest in the joint operation in the manner described in paragraph 42. In doing so, the acquirer shall remeasure its entire previously held interest in the joint operation.] [Inserted by Notification No. G.S.R. 274(E), dated 30.3.2019 (w.e.f. 16.2.2015).]
A business combination achieved without the transfer of consideration
