Originally posted by :Shweta |
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Company A, has subsidiary abroad. In compliance with Section 212, i want to attach its financials, audit report,. directors report. Is financial and DR, AR is to be as per indian companies act.??? or only financials disclosure must be as per companies act |
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In response to your query, I would like to point out that , Company A being the holding Company in India and being governed by the Indian Companies Act, 1956 , it is usual that you follow, the financial and DR, AR as per indian companies act. However, if the subsidiary is incorporated in a foreignstate , which requires a subsidiary of a foreign company , then those set of laws will apply.