Ind AS 28 ‘Investments in Associates and Joint Ventures’When changing from the equity method in respect of its interest in a joint operation, an entity shall, at the date of transition to Ind ASs, derecognise the investment that was previously accounted for using the equity method and any other items that formed part of the entity’s net investment in and recognise its share of each of the assets and the liabilities in respect of its
interest in the joint operation. Any difference arising from the investment previously accounted for using the equity method shall be adjusted against retained earnings at the date of transition to Ind ASs.

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