27 September 2018
Respected Sir, Thanks for your guidelines. Here I forgot one more thing about directorship of J (p) Ltd and M (p) Ltd. J (p) Ltd. has total five directors M,A,J and P and S. M (p) Ltd has total four directors M,A,J and P . All the directors of M (p) Ltd is directors of J (p) Ltd and in addition to these four directors, there is one more i.e. S who is wife of A. please now guide again. Thanks with Regards,
27 September 2018
Dear Madhu, As per the definition of Control in AS-21, Control :- control of the composition of the board of directors in the case of a company or of the composition of the corresponding governing body in case of any other enterprise so as to obtain economic benefits from its activities.
Hence in the above as per my opinion, the above criteria is satisfied, hence Consolidation as per AS-21 is required.
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