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consolidated financial statements
is it mandatory to prepare consolidated financial statements for unlisted companies
Replies (3)
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.
Yes, preparation of Consolidated Financial Statement is mandatory if the company has subsidiary, joint venture or associate.
Yes
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