The Securities and Exchange Board of India (SEBI) is working on listing norms for small and medium enterprises (SMEs). The key decisions are likely to be taken on November 9, 2009.
The Securities and Exchange Board of India (SEBI) is working on listing norms for small and medium enterprises (SMEs). The key decisions are likely to be taken on November 9, 2009.
The SME sector, the second-largest employer after agriculture, contributes 20 per cent to India's gross domestic product.
A small firm with a track record of distributable-profit for at least three out of the immediately preceding five years may be eligible for the listing.
As far as disclosure standards are concerned, SEBI would make them go electronic to reduce cost of disclosure, reduce frequency of disclosure of financial statement to half yearly from quarterly. It also proposes to reduce quantity of disclosure - statement containing salient features instead of full balance sheet/profit and loss account.
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