Applicability of Section 212

If any company holds more than 50% of the Share Capital upto 30th March but due to transfer of Shares the holding of company has reduced from 50% before 31st March. Then in such case section 212 will apply or not? because the text of section 212 states that,

“There shall be attached to the balance-sheet of a holding company having a subsidiary or subsidiaries at the end of the financial year as at which the holding company’s balance-sheet is made out, the following documents in respect of such subsidiary or of each such subsidiary, as the case may be….”