https://www.taxtmi.com/news?id=1747 The Central Government directs that Section 212 shall not apply to subsidiaries of companies that (i) have board resolution consenting to non attachment of subsidiary balance sheets; (ii) present consolidated financial statements of the holding company and all subsidiaries audited by statutory auditors and prepared in strict compliance with applicable Accounting Standards and listing requirements; (iii) disclose in aggregate for each subsidiary capital, reserves, total assets, total liabilities, investments (except in subsidiaries), turnover, profit before taxation, provision for taxation, profit after taxation and proposed dividend; and (iv) undertake to provide subsidiary annual accounts to any shareholder on demand and maintain inspection facilities, regularly file required data with authorities, and state Indian rupee equivalents of foreign currency figures using the closing exchange rate. en-us Wed, 30 Mar 2011 16:25:23 +0530 Wed, 30 Mar 2011 16:25:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=1747 The Central Government directs that Section 212 shall not apply to subsidiaries of companies that (i) have board resolution consenting to non attachment of subsidiary balance sheets; (ii) present consolidated financial statements of the holding company and all subsidiaries audited by statutory auditors and prepared in strict compliance with applicable Accounting Standards and listing requirements; (iii) disclose in aggregate for each subsidiary capital, reserves, total assets, total liabilities, investments (except in subsidiaries), turnover, profit before taxation, provision for taxation, profit after taxation and proposed dividend; and (iv) undertake to provide subsidiary annual accounts to any shareholder on demand and maintain inspection facilities, regularly file required data with authorities, and state Indian rupee equivalents of foreign currency figures using the closing exchange rate. News - Wed, 30 Mar 2011 16:25:23 +0530 https://www.taxtmi.com/news?id=1747