Consolidation of foreign subsidiaries

law doen not specifically state the consequences but it seems that the intent of legislator was to not allow company more than 6 months gap in between closing date of holding and subsidiary.

In case gap between closing date of subsidiary is more than 6 months it has to prepare a seperate FS at the end of 6 months stating their financial performance and financial assets held by them

Hi Pankaj,

Consolidation does require all subsidiaries (domestic or foreign) to be consolidated.