Consolidated financial statements for f.y. ending 2014 ?????

Companies Act 2013 mandatorily requires for preparation of Consolidated Financial Statements for a company having a subsidiary, associate or joint venture ?

My query is whether consolidated accounts need to be prepares for Financial Year ending 2014 ?

or

Is exemption available for F.Y. ending 2014 as per circular 8/2014 ?

Thanks in advance