Holding company

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Querist : Anonymous

Querist : Anonymous (Querist)

11 December 2012 Consolidation Statement is mandatory for pvt ltd company if mandatory then please refer the section & clause of sebi.

Ajay Mishra

Ajay Mishra (Expert)
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11 December 2012 Hi

The equity shares of the private limited company is not traded on stock exchanges. So i think, it is not mandatory. However
Clause 32 of the Equity Listing Agreement, The issuer shall supply:

(i) Soft copies of full annual reports containing its Balance Sheet, Profit & Loss account and Directors’ Report to all those shareholder(s) who have registered their email address(es) for the purpose;
(ii) Hard copy of statement containing the salient features of all the documents, as prescribed in sub-clause (iv) of clause (b) of proviso to section 219 of the Companies Act, 1956 to those shareholder(s) who have not so registered;
(iii) Hard copies of full annual reports to those shareholders, who request for the same.”

The issuer will also give cash flow statement along with the Balance Sheet and Profit and Loss Account. The Cash Flow Statement will be prepared in accordance with the Accounting Standard on Cash Flow Statement (AS-3) issued by the Institute of Chartered Accountants of India, and the Cash Flow Statement shall be presented only under the Indirect Method as given in AS-3. The statement shall be issued under the authority of the Board and shall be signed on behalf of the Board of Directors in the manner provided for the authentication of Balance Sheet and Profit and Loss Account in Section 215 of the Companies Act, 1956.

a. Consolidated Financial Statement:
• Companies shall be mandatory required to publish Consolidated Financial Statements in the annual report in addition to the individual financial statements.
• Audit of Consolidated Financial Statements by the statutory auditors of the company and the filing of Consolidated Financial Statements audited by the statutory auditors of the company with the stock exchanges shall be mandatory.

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