Annual return under companies act 2013

This query is : Resolved

CA Pradeep Garg (Querist)
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22 June 2016 Dear Friends,

Private Company A owns 99% shares in another private company B & C. Company B owns 70% shares in Private Company D.
Will the company A is required to prepare consolidated balance sheet considering the final balance sheets of B,C & D???. Will the Annual Return of A has to be consolidated also??
What is the penalty for non compliance???

Jatin Bajaj

Jatin Bajaj (Expert)
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25 June 2016 According to section 129(3), where companies has one or more subsidiaries , it shall in addition to financial statement under (2) also prepare consolidated financial statement of company and all of the subsi company and shall place before annual general meeting of the company.
provided further that as per rule 5 of companies accounts rule, company also attach with financial statement , a seprate statement containing the Salient features of financial statement of subsi company in form AOC 1

ANNUAL RETURN SHALL BE FILED SEPRATELY FOR BOTH HOLDING AND SUBSIDIARY COMPANY IN FORM MGT 7

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