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consolidated financial statements

Chandu Buddana (13 Points)

21 March 2019  
is it mandatory to prepare consolidated financial statements for unlisted companies

 3 Replies

Radhey Shyam Jha (Student) (1147 Points)
Replied 21 March 2019

Section 129(3) of Companies Act 2013 mandates preparation of consolidated financial statements (CFS) by all Companies, including unlisted Companies, having one or more subsidiaries, joint ventures or associates. Previously, the Securities and Exchange Board of India (SEBI) required only listed Companies to prepare CFS.
1 Like

CA Amrita Chattopadhyay (Audit & Assurance) (10312 Points)
Replied 22 March 2019

Yes, preparation of Consolidated Financial Statement is mandatory if the company has subsidiary, joint venture or associate.

Michael Nyakuyedzwa (9 Points)
Replied 27 March 2019

Yes

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