Section 212(2)(d)

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

24 June 2011 Dear Experts,

A Ltd is the holding company of B Ltd.
The financial year for A Ltd.(Holding Co.) was from 01.10.2009 to 31.12.2010 i.e. 15 months and the financial year for B Ltd.(Subsidiary Co.) was from 01.04.2010 to 31.12.2010 i.e for 9 months..
Therefore while preparing the statement as per Section 212 are the figures to be adjusted??

CS Bijoy

CS Bijoy (Expert)
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24 June 2011 According to me if there is any problem you are facing in preparing statement than you can also avail the option of separate Statement for the Subsidiary.

Querist : Anonymous

Querist : Anonymous (Querist)

24 June 2011 But section 212(2)(d) says where the financial year of a subsidiary is shorter in duration than that of its holding company, then the financial year of the subsidiary should be constructed as references to two or more financial year of the subsidiary the duration of which in aggregate, is not less than the duration of the holding company’s financial year.

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