The Indian government could delay the IFRS
implementation date set for 1 April 2011, according to media
reports.

The Ministry of Corporate Affairs is running
out of time to introduce seven to eight amendments to the Companies
Act that must be enacted before IFRS can be introduced.

Speculation suggests Indian companies could
receive another year to adjust to the new reporting rules.

The implementation date applies to about 400
companies, including 50 bellwether companies on the National Stock
Exchange and 30 Sensex companies whose shares or securities are
listed abroad.