Associated company consildation and AOC-1

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AJAY GUPTA (Querist)

26 August 2016 Is AOC-1 filing mandatory for F.Y 2015-16 for conolidation of financial stmt of associated enterprise for every company.

AJAY GUPTA

AJAY GUPTA (Querist)

29 August 2016 Experts please answer

Aashok Kumar Sharma

Aashok Kumar Sharma

(Expert)

14 July 2024 As per the Companies (Accounts) Rules, 2014 and relevant provisions under the Companies Act, 2013, filing Form AOC-1 (Statement containing salient features of financial statements of subsidiaries/associate companies/joint ventures) is mandatory for certain companies. Here’s a breakdown of the requirements:

### AOC-1 Filing Requirement

1. **Applicability**:
- Form AOC-1 is required to be filed by a holding company, which includes:
- Every company which is a holding company or a subsidiary company of such company; or
- A company which is an associate company or joint venture of another company.

2. **Content of AOC-1**:
- AOC-1 includes the salient features of the financial statements of subsidiaries, associates, and joint ventures. It typically covers details such as:
- Name of the subsidiary/associate/joint venture.
- Reporting period covered by the financial statements.
- Holding company’s interest in the subsidiary/associate/joint venture (e.g., percentage of ownership).
- The financial year-end of the subsidiary/associate/joint venture.
- Details of equity, reserves, total assets, total liabilities, etc., as per the financial statements of the subsidiary/associate/joint venture.

3. **Filing Timeline**:
- Form AOC-1 is required to be filed along with the financial statements of the company for which it is being filed. It should be filed within the prescribed time for filing financial statements, which is typically within 30 days from the date of AGM (Annual General Meeting) or within 30 days from the due date of AGM, whichever is earlier.

4. **Exemption**:
- Small companies and dormant companies are exempt from filing Form AOC-1.

### Specific Answer to Your Query

For the Financial Year 2015-16 (F.Y. 2015-16), the requirement to file Form AOC-1 for consolidation of financial statements of associated enterprises applies to companies that meet the criteria mentioned above. If your company is a holding company or falls under the definition of associate or joint venture as per the Companies Act, 2013, and Companies (Accounts) Rules, 2014, then filing Form AOC-1 is mandatory.

Ensure to review the specific details and definitions under the Companies Act, 2013, and consult with a professional accountant or company secretary to determine your company's exact obligations regarding Form AOC-1 filing for F.Y. 2015-16.

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