Ind Global Financial Trust Ltd chairman Shankaran R said, "There can not be a concrete formula for dotcom valuation. The Malagam Committee has been studying the possibility of dotcom valuation. We have to wait and see as to how it is going to be beneficial both for investors as well as promoters.

However, given the global phenomenon, where the wealth of dotcom companies have disappeared enormously, there is no reason to be worried." For instance, in the case of Softbank there is a fall of 94 per cent. Its valuation of stock has come down from $69 billion to just $4 billion. Microsoft too has a fall of 60 per cent in its valuation of stocks. So, the market would decide about the valuation of dotcoms whether in India or outside, he said. In mid-December 2000, in a report submitted to the Securities and Exchange of India (Sebi), the sub-committee had suggested that the dotcoms should disclose their significant accounting policies, details of customer and usage data and information on sales and billings on a daily basis. In addition, revenue and gross profit figures should be disclosed on a monthly basis on their websites. Meghraj Financial Services (I) Ltd cheif executive officer Anand Kumar AS also said, "The proposed guidelines on disclosure are a step in right direction. Comprehensive andtransparent disclosures would help enable investors to distinguish between healthy and risky investment decisions."