Accounts of subsi co.

Dear frnds,

There are two co., one is indian holding co. and other is foreign subsi. co. Date of AGM of holding co. is 30 Dec.2009, while at that date, the accounts of subsi. co. were not final and its b/s was not ready. Its B/S (for the year 2008-09) got ready on Oct. 2010. Annual filing of holding co. is still pending.

Is it necessary for a co. to present its subsi. co. B/S in AGM? If it is so then wat is the way out ? Can a co. attach its subsi. co. B/S in its annual filing if the B/S got ready after AGM and the annual filing was pending jst b'coz of late finalisation of B/S of subsi. co.

Replies (2)

Pls reply....

Its depend on the practice you follow if you prepare standalone balance sheet then statement u/s 212 is attached. If you prepare consolidated balance sheet then amount of both holding and subsidiary are grouped.

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