11 February 2011
The company is listed it's FCCB in Luxembourg SE. The other conditions with regard to applicability of IFRS are not applicable to the company execept oversea listing of FCCB. This FCCB can either be converted in to equity shares and listed in India, in case of conversioan or be redeemed on maturity in July'11. There is no ADR or GDR embedded in FCCB. under the above context, IFRS would still be applicable? This FCCB is covered under Overseas Listing of securities?
Can any body guide and give expert opinion on this?
CAclubindia
