Friends
Suppose, S Ltd. subsidiary of H Ltd. was incorporated on 01.03.2011. The first accounts of S Ltd. will be prepared as on 31.03.2012. Therefore, accounts can not be consolidated with H Limited. Can accounts of H Ltd. be filed with ROC.
What disclosures should we made in Directors' Report. How section 212 will be complied with
regards,
Disclusure will go as nil...in Board Report you can incorporate the above facts...stating the progress explaining the future plans...for e.g Company has incorporated on XXX date, BoD decided to consider financial year XXX to be in line with financial year of Holding Company...or like...
Regards
Jaideep
CAclubindia
