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Section 136 of ca 2013-disclosures on website

Roopesh Gangisetty (Article trainee) (176 Points)

08 April 2015  

Dear All,


Is sec 136 applies for Private Companies?

Secondly, If a private subsidary company doesnot have seperate website, can such company disclose its financials in Holding company Website.



 3 Replies

P C Agrawal (Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad)   (8190 Points)
Replied 09 April 2015

Yes, Sec.136 is applicable to private companies also.  Concerned proviso reads as  under:


"Provided also that every company having a subsidiary or subsidiaries shall---

a) place separate audited accounts in respect of each of its subsidiary on its website, if any;"


Here the words "its website" refer to the website of the  holding  company and not of the subsidiary company.  It is quite funny that company's own accounts are not required to be placed on the website but the accounts of subsidiary company are required to be placed on the website!  What the public will get out of it?


1 Like

Roopesh Gangisetty (Article trainee) (176 Points)
Replied 09 April 2015

Thank you for your opinion sir.


Yes, its a bit funny. How come a Holding Company have to disclose its subsidary financials on its wall of website rather than of its own.

Nisha Sharma (Company Secretary) (1155 Points)
Replied 01 September 2015

Plane reading of the act says that holding company needs to place the financials of its subsidiary. Well I believe where the company is public and listed and where it has to place its financials on its website, it makes sense to place the financials of its subsidiary but in case of private companies I doubt as there is no mandate for private companies to even place their own financials. 

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