Whether as 21 apply to other than company

This query is : Open

kaluram (Querist)
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27 June 2017 Sir, If llp/partnership firm holding more than 50 % shares of ABC Ltd then whether llp/partneahip firm is required to prepare consolidated Balance sheet as per AS -21 or have to give treatment as per AS - 13 ? Assuming that llp/partnership firm falls under level 1 category.

CA Abhishek Goyal

CA Abhishek Goyal (Expert)
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05 July 2017 Hello,

As per my opinion, AS-21 will not be apply here. If situation would be reverse in this case, AS-21 would apply in such case.

Still awaited from other experts.