Dear All,
I have company X which is incorporated in India in sept 22 and having share capital of Rs 100000/-. Also this company subscribed the 70% shares of a overseas company (Y) but the same has not been paid till now. As on 31.03.2023, there is no business in both the companies X & Y and even the bank account opened after 31.03.2023. So following are my questions :
1. Should the company X is liable to prepare the Consolidated Financials Statements for FY 2022-23?
2. If the answer is Yes to the question no1, What are the compliances and procedure that company X needs to adopt?
3. What are the MCA compliance? Which forms company X need to file if it is preparing the CFS.
CAclubindia
