We are Unlisted Public Ltd Co, having a wholly owned subsidiary in Mauritius. That subsidiary has 2 subsidiaries and one wholly owned subsidiary in Mauritius. All these step down subsidiaries are making losses. However, our WOS based in Mauritius are not consolidating those loss making subsidiaries as per IFRS 10-CFS. Thus our Indian parent's books of accounts do not capture those step down subsidiaries except the main subsidiary. Is it violatibe?
CAclubindia
