07 October 2023
My company, XYZ Limited, holds 20.72% of the shares of ABC Ltd. ABC Ltd. is now considered my associate. I do not have any subsidiary companies. Please advise whether I need to prepare a consolidated balance sheet in accordance with Section 129 of the Companies Act 2013 and Rule 6 of the Companies Rules. Note that Ind AS (Indian Accounting Standards) is not applicable to my company.
CAclubindia
