Timelines for convergence for ifrs

Timelines for Convergence for IFRS in India

First Phase : 1^st 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 :1^st April ,2013

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

Third Phase : 1^st April, 2014

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