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SEBI sets up Net firm valuation panel

The Securities and Exchange Board of India said that it has set up a committee to examine and suggest accounting standards for Internet firms.

"The committee will look into the disclosure requirements by dot-coms, accounting standards for dot-com companies and the continuing disclosure requirements for them," SEBI said in a statement.

The issues that will be discussed include the definition of revenue -- whether it should be gross revenue or net, the types of revenue and the method of assessing prepaid and intangible assets.

The committee includes representatives of SEBI, the software industry, the National Stock Exchange and the Institute of Chartered Accountants of India.

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