Consolidation of accounts for companies having only associate and no subsidiary

We have referred section 129(3) of companies act, 2013 and Rule 6 of companies accounts rules 2014 and accounting standards 21, 23 and also the Schedule III provision. But its not defined anywhere whether the companies having only associates without any subsidiaries should required to prepare consolidated financial statements or not. Can some one help me on this issue..?? whether it is required to prepare consolidated financial statement as per companies act, 2013 if we have only associate companies ??
Replies (1)
The Companies (accounts) amendment rules notified by mca on 14.10.2014 clarifies in this regard that a company not having subsidiaries but only associates and joint ventures need not consolidate.

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