Dear Colleagues,
Can a holding company have its AGM completed before the audit of the accounts of the Subsidiary? If not, then what is preferrable, whether it is sufficient as per section 166 and section 212 that the accounts of subsidiary be audited before the AGM of Holding Company and be sent to the members of Holding compnay before the AGM. OR it is required tha the AGM of subsidiary be held before despatching the notice of the Holding Company.
Thanks in advance.
Regards,
CA. Puneet Oberoi
Hello,
I think subsidiary company cannot held its AGM after the AGM of holding company, as its given that u need to consider the accounts of subsidiary company in the AGM of Holding Company.
Thanks
Regards
Nidhi
Puneet,
The financials of the Subsidiary Company also forms part of the Annual report of the holding Company.
So without that the Balance sheet is not finalised, so accounts of the subsidiary be audited first before that of holding Company.
So the holding company cannot complete its agm before the audit of the accounts of the subsidiary company.
Shivi
What if the balance sheet of subsidiary is signed and audited before the holding company plans to hold its AGM? Is it allowed?
CAclubindia
