Exemption under section 212(8): companies must meet all circular conditions, including unlisted entities, to claim benefit. Companies seeking the exemption under section 212(8) must fulfil all conditions set out in General Circular No. 2/2011, including condition (ii), even if they are unlisted. The Ministry, while acknowledging SEBI's limited scope, requires this administrative condition to ensure transparency where subsidiary balance sheets are not attached to the parent company's accounts.