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Section 129

01 June 2021

wholly owned subsidiary or subsidiary are not required to prepare consolidated F.S . but it is the condition that the company must be unlisted ,???

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8 Replies

CA. Sourav Sarkar (Chartered Accountant ) (24583 Points)
Replied 01 June 2021

But for listed company also

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i am Kashif (372 Points)
Replied 01 June 2021

Thanks

anil jain (Partner) (1072 Points)
Replied 01 June 2021

Pl clear whether holding company or subsidiary or both are required to prepare consolidated FS.

CA. Sourav Sarkar (Chartered Accountant ) (24583 Points)
Replied 01 June 2021

Holding company should prepare CFS including subsidiary company also

Ankit Neema (2742 Points)
Replied 01 June 2021

Yes both are required to prepared standalone Financial Statements. And Holding is also required to prepare CONSOLIDATE Financial Statements

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anil jain (Partner) (1072 Points)
Replied 02 June 2021

My question as also of Mr kashif is

whether any subsidiary (listed or unlisted) is required to prepare CFS?

Neel Parikh (105 Points)
Replied 05 June 2021

Conditions for CFS Exemption:-

1) Our company needs to be WOS / Partially owned Subsidiary of another Company + Our Members of company has gave assent for not preparing CFS

2) Securities of our company shall not be listed in any stock exchange (whether india or abroad)

3) Our Ultimate HC / immediate HC have filled AOC4 CFS with ROC.

All 3 to be fulfilled to get exemption.

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