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Abhay Nevagi & Associates

Centre to file say on plea over diluting’ AS-11

PUNE: The Bombay High Court on Monday gave the central government two weeks to file its say in a writ petition under Article 226 of the Constitution of India filed by voluntary organisation Just Society. The petition challenges the government’s notification diluting the requirements of Accounting Standard (AS-11), saying it allows businesses to understate losses and inflate asset levels.

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