I would like to have your views on:
If a private Ltd. form another private co. and hold @ 70 shares in that case it will be holding/ subsidiary co
What disclosure is required to be made ?
Whether Balance sheet is to be attached with that of Holding Co ?
and what other formality required ?
I have referred Sec.2(87)of Act. 2013. Whether pvt co comes under ambit of this section
Pleas suggest..
Thanks
Yes, Sec.2(87) is applicable to private co. also. You have to prepare consolidated financials of both companies u/s 129(3). For financials for FY 2013-14 you have to follow Companies Act 1956, as clarified by MCA by circular No.8 dated 4.4.2014.
Agree with sir
Thank you Agarwal Sir for your prompt reply
and thanks Vandana for commenting
| Originally posted by : P C Agrawal | ||
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Yes, Sec.2(87) is applicable to private co. also. You have to prepare consolidated financials of both companies u/s 129(3). For financials for FY 2013-14 you have to follow Companies Act 1956, as clarified by MCA by circular No.8 dated 4.4.2014. |
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Agree with sir,
The former one is Holding Company and the later on is its subsidiary company.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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