Mgt 7 - cs certification

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Dear Sir, We have one subsidiary company whose turnover is not more than 2 crore and capital is also not more than 50 lakhs.Please let me know whether cs has to certify in form mgt 7 for this company?
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Total Turnover - 24,00,000

capital           - 500000

This is susidiary company of switzerland. Holding company holds shares of 77% of this company.


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