Said Sai Venkateshwaran , Head - IFRS at Grant Thornton India, “These results indicate that even though PHBs are often under no obligation to report information about their financial results or legal structures, business leaders are increasingly recognising that in order to compete and grow they need to be more transparent and more readily comparable with competitors.”
http://www.indiainfoline.com/Markets/News/PHBs-look-for-greater-transparency-in-financial-reporting-Grant-Thornton/4848337340