what is the meaning of notwithstanding that the balancesheet of a banking co. u/s 29(1) is required to be prepared in a form other than the form set out in part -I of schedule VI to the companies Act 1956. the requirement of that relating to the balancesheet and profit & loss account of a company shall in so far as they are not inconsistnt with this act. apply to the balancesheet or P&L a/c as the case may be of a banking company.
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Applicability of schedule 6 on bank balancesheet
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that means firstly the provisions of banking co will apply. secondly if there is a provision in sch 6 which do not go against the provision of banking co then sch 6 provisions will apply to that extent
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