Foreign company accounts: filing, audit and reconciliation obligations for Indian business, with submission and disclosure requirements. A foreign company conducting Indian business must file its Indian balance sheet and profit and loss account in triplicate with the Registrar in the form required by the Act; the balance sheet must show branch working capital and the profit and loss must disclose net profit or loss transferred to the principal office. Indian business accounts must be audited as prescribed, with transitional acceptance of foreign auditors for earlier periods, and authenticated copies of group and subsidiary accounts filed in the country of incorporation must also be submitted.