Opening Balance sheet after merger

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Abhishek (Querist)
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19 November 2021 In case of making opening balance sheet after merger, I have two questions:-

1. Whether to make comparative opening Balance sheets or not??
2. If comparative Balance sheets are required then the last year balance sheet must be audited or not?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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19 November 2021 1 yes, make comparative opening balance sheet.
2 No need for audit, adopt the already audited figures.

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Abhishek

Abhishek (Querist)
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19 November 2021 Please provide the source for the information provided or please tell about the sections which tells the same.

Thanking You

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CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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19 November 2021 https://www.google.com/url?sa=t&source=web&rct=j&url=https://assets.kpmg/content/dam/kpmg/in/pdf/2020/02/chapter-02-business-combinations-ind-as-implementation-guide.pdf&ved=2ahUKEwiLjt3CnqT0AhURgFwKHY9LBJIQFnoECAMQAQ&usg=AOvVaw2A4WsoCTWodW0vSUleIYf8

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Abhishek

Abhishek (Querist)
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19 November 2021 This article indicates that make closing Balance sheet and make comparative for the same. There is no mention for the opening Balance sheet and also query is there any compulsion to make opening balance sheet and to file the the same to ROC or SEBI ??