Rule 2 Definitions
- Text as on
- 14 August 2026
Definitions.-
(1) In these rules, unless the context otherwise requires,-
(a)“Accounting Standards” means the standards of accounting, or any addendum thereto for companies or class of companies as specified in rule 3;
(b)“Act” means the Companies Act, 2013 (18 of 2013);
(c)“Annexure” in relation to these rules means the Annexure containing the Indian Accounting Standards (Ind AS) appended to these rules;
(d)“entity” means a company as defined in clause (20) of Section 2 of the Act;
(e)“financial statements” means financial statements as defined in clause (40) of Section 2 of the Act;
(f)“net worth” shall have the meaning assigned to it in clause (57) of Section 2 of the Act.
(2) Words and expressions used herein and not defined in these rules but defined in the Act shall have the same meaning respectively assigned to them in the Act.