Foreign subsidiary

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George

article

44 Points Posted on 30 August 2011

I had some queries regarding Foreign Subsidiaries. Following are the details of the same:

Our Company has six subsidiary companies out of which four are in foreign country

We also have four subsidiary companies of one of our foreign subsidiary company (i.e these are our indirect subsidiary)

Now as per section 212, do we need to give the details of all our subsidiaries including indirect subsidiaries or we will have to give the details of our direct subsidiaries only.

Further if the Indian Auditor audits the accounts of our foreign subsidiary, then will it be valid or no

Further will the details of our subsidiary company will also be given in XBRL format ?

I will be very thankful to you if u can guide me on the above mentioned issue

Replies (2)

Jaideep

Service

1373 Points Posted on 31 August 2011

as per section 212, do we need to give the details of all our subsidiaries including indirect subsidiaries or we will have to give the details of our direct subsidiaries only. 212 statement for Only direct Subsidary

Further if the Indian Auditor audits the accounts of our foreign subsidiary, then will it be valid or no Valid

Further will the details of our subsidiary company will also be given in XBRL format ? Yes, but there is some ambiguity w.r.t. class of companies, clarificattion sought from MCA..., over all these details will go in XBRL Mode.

Regards

Jaideep Pandya