Timelines for convergence for ifrs

CA Sanjay Bag (CHARTERED ACCOUNTANT) (3340 Points)

11 July 2012  

Timelines for Convergence for IFRS in India

 

First Phase : 1st April, 2011

 

  1. Companies which are part of NSE- Nifty 50
  2. Companies which are part of BSE – Sens*x 30
  3.  Companies which share or other securities are listed on Stock Exchange Outside India
  4. Companies whether listed or not , which have a net worth in excess of Rs.1000 crores

 

Second Phase :1st April ,2013

Companies which are listed or not , having a net worth exceeding Rs. 500 crores but not exceeding Rs. 1000 crores.

 

Third Phase : 1st April, 2014

 

Listed companies which have a net worth of Rs. 500 crore or less