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of <h1>Section 212: Holding Companies Must Attach Subsidiaries' Financial Documents to Balance Sheet; Non-Compliance Leads to Penalties.</h1> Section 212 of the Companies Act, 1956 mandates that a holding company must attach specific documents related to its subsidiaries to its balance sheet at the end of the financial year. These documents include the subsidiary's balance sheet, profit and loss account, directors' and auditors' reports, and statements of the holding company's interest. If the subsidiary's financial year does not align with the holding company's, additional statements are required. Non-compliance can result in fines or imprisonment. The Central Government may exempt certain subsidiaries from these requirements upon application.
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