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Consolidation
Company "B" is having 33.33% share holding in Company "A". Both are private limited company. Company "B" does not have any business during the year. Both companies having one common director.
Whether Company "A" is required to prepare consolidated financial statement?
Replies (1)
As per Section 129 consolidation of financials is mandatory for 2015-16. MCA had given relaxation only for the year 2014-15. Pl also refer ICAI FAQs on the subject.
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