Accounting standards for IFSC debt issuers require IFRS/US GAAP/Ind AS compliance or a quantified reconciliation in disclosures. Issuers listing debt securities in IFSC must prepare financial statements under IFRS, US GAAP or Ind AS or their home accounting standards. If not prepared under those frameworks, issuers must include a quantitative summary of significant differences between national standards and IFRS in disclosure documents; alternatively, for issues aimed at institutional investors a statement of differences plus a disclaimer that effects are not quantified is permissible.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Accounting standards for IFSC debt issuers require IFRS/US GAAP/Ind AS compliance or a quantified reconciliation in disclosures.
Issuers listing debt securities in IFSC must prepare financial statements under IFRS, US GAAP or Ind AS or their home accounting standards. If not prepared under those frameworks, issuers must include a quantitative summary of significant differences between national standards and IFRS in disclosure documents; alternatively, for issues aimed at institutional investors a statement of differences plus a disclaimer that effects are not quantified is permissible.
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