We have 100% wholly owned subsidiary in Mauritis, who in turn holds 100% stake in another company in Mauritis. Now our subsidiary write off substantial investment in SDS.
Does Indian parent company avoid consolidation of SDS's accounts in India? Auditors simply mention that non consolidation in qualified report? Does it discharge PCA & PCS from any lapses. Actually, impairment ultimately reduces parent's stake in WOS? Possibly, RBI approval is required as initial FDI was under UIN
Kindly share your opinion
CAclubindia
