Mayuri Lal (officer CS) (748 Points)
02 May 2011Dear Members,
Please provide me with the draft Board resolution giving consent for not attaching the balance sheet of the subsidiary concerned u/s 212(8) with respect to the general exemption granted to the Companies for attaching the accounts of the Subsidiary Compnaies under General Circular No: 2 /2011
Regards,
CS Nadeem Ahmed Siddique
(Company Secretary)
(354 Points)
Replied 02 May 2011
The resolution can be drafted as follows:
"The Chairman informed the Board that the exemption in respect of mandatory attachment of balance sheet of the subsidiary company u/s 212 was granted to the company.
THE BOARD RESOLVED THAT such general exemption granted is taken on record, approved and is hereby to be applied"
Jaideep
(Service)
(1368 Points)
Replied 02 May 2011
Plz find sample; You can also modified language, specificaly mentioning for Consolidation;
EXEMPTION FROM INCORPORATING SUBSIDIARY’S ACCOUNTS INTO THE COMPANY ACCOUNTS
“RESOLVED THAT pursuant to Section 212(8) of the Companies Act, 1956 and MCA circular dated ……. , Consent of the Board of Directors is hereby accorded for not attaching the accounts of Subsideries Company, in relation to Subsidiary viz., ABC, DEF, GHI, for the financial year commencing from ………..”
“RESOLVED FURTHER THAT Mr. Director of the Company be and is hereby authorised to make the to do such acts and deeds in connection therewith that may be necessary and that which they deems fit and proper.”
Regards
Jaideep Pandya
CAclubindia
