Foreign subsidiary

Hi Mitesh,

As per my knowledge the attachments would include only the accounts of the direct subsidiary, since the Company does not by itself hold any shares in the indirect subsidiary.

and yes the audit can be done by Indian auditors also.

Thanks & Regards

Amit Mishra

BSamrish & Co.

New Delhi

Hello,

As far as my view concerned that in sec4 where they define the relation of a holding subsidiary they specifiaclly mention the above situation as HOLDING AND SUBSIDIARY. 

So i think that they have to mention the accounts of Indirect Subsidiary too. 

Now the question of Auditor, i dont think that there is some prohibition on the Foreign company that to audit their accounts by Indian or Foreign Auditor,.....

Further View Are Welcomed.

regards

Nidhi

Thank you friends for your comments. This steel leaves me in confusion. Further even in form 23ac for filing of balance sheet, there is specific option given for indirect subsidiaris i.e "u/s 4 (1) (c)". but there seems to be some techinical error in the form. when we select the option for one subsidiary as "u/s 4(1)(c)", the other subsidiaries option also gets changed to "u/s 4(1)(c)" whereas it should be "u/s 4(1)(b)".

If anyone can help me out with this..... 

Dear All,

I also have the same doubt, whether indian CA firm , acting as statutory auditor of indian parent company, can do audit of foreign subsidiary... if yes/no then under which section of company law it's allowed/prohibited..???

Also need to know, whether in consolidated audit report of parent company, subsidiary company's accounts be treated as audited one???

Pls guide..