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Section 129
wholly owned subsidiary or subsidiary are not required to prepare consolidated F.S . but it is the condition that the company must be unlisted ,???
Replies (8)
Quick Summary
But for listed company also
Thanks
Pl clear whether holding company or subsidiary or both are required to prepare consolidated FS.
Holding company should prepare CFS including subsidiary company also
Yes both are required to prepared standalone Financial Statements. And Holding is also required to prepare CONSOLIDATE Financial Statements
My question as also of Mr kashif is
whether any subsidiary (listed or unlisted) is required to prepare CFS?
Conditions for CFS Exemption:-
1) Our company needs to be WOS / Partially owned Subsidiary of another Company + Our Members of company has gave assent for not preparing CFS
2) Securities of our company shall not be listed in any stock exchange (whether india or abroad)
3) Our Ultimate HC / immediate HC have filled AOC4 CFS with ROC.
All 3 to be fulfilled to get exemption.
1) Our company needs to be WOS / Partially owned Subsidiary of another Company + Our Members of company has gave assent for not preparing CFS
2) Securities of our company shall not be listed in any stock exchange (whether india or abroad)
3) Our Ultimate HC / immediate HC have filled AOC4 CFS with ROC.
All 3 to be fulfilled to get exemption.
My concern only is that
holding company is required to prepare CFS
but not the subsidiary of any kind.
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