Foreign subsidiary unaudited financial statements: holding Indian company may file them with declaration and English translation. Amendments to section 137 remove cross references to timing under section 403 in sub sections (1) and (2) and substitute "therein" in sub section (3). A ... Summary
Foreign subsidiary unaudited financial statements: holding Indian company may file them with declaration and English translation.
Amendments to section 137 remove cross references to timing under section 403 in sub sections (1) and (2) and substitute "therein" in sub section (3). A new proviso permits a holding Indian company to meet the fourth proviso's requirements for a foreign subsidiary that is not audited abroad by filing the subsidiary's unaudited financial statements with a declaration; where those statements are not in English, an English translation must be filed.
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