1.The 2013 act as applicable to the preparation, audit and adoption of the financial statement of a holding company.

2. Where a company has one or more subsidiaries, the financial statements of the parent company, prepare a consolidated financial statement of the parent company and of all subsidiaries.

3. The term subsidiary shall include Associates and Joint ventures for consolidation of accounts.

4. The term associate company shall mean as defined under section 2(6) of the 2013 act.

5. The term subsidiary shall mean as defined under section 2(87) of the 2013 act.

6. In case the company is listed, intimate the stock exchange where the shares of the company are listed at least seven clear calendar days before the meeting of the Audit Committee. The board meeting of the company.

7.In case the company is listed, issue a public notice at least in one English daily newspaper circulating in the whole or substantially the whole of India and in one daily newspaper published in the language of the region, where the registered office of the company is located.

8. Convene a meeting of the board of directors after giving due notice under section 173 of the 2013 act and in accordance with the SS-1.

9. Adopt the consolidated accounts along with the standalone accounts in the board meeting.

10. Forward the consolidated accounts along with the standalone accounts for the report of the auditors threon, subsequently get the auditors report.

11. Inform the ROC, the adoption of accounts in Form No. MGT-14 within 30 days of the passing of resolution by the board members.

12. Convene a meeting of the audit committee, If appointed under section 177 of the 2013 act and review if any recommendations after the examination of the financial statements and auditors report threon by the members of the audit committee.

13. Immediately inform the stock exchange towards the outcome of the board meeting. The meeting of audit committee along with the financial statements as approved by the board and audit committee. Publish the consolidated financial statements in newspapers within 48 hours of the meeting of the board.

14. The company is attach their financial statements. The features of the financial statements of its associate company or companies and joint venture or ventures, subsidiary or subsidiaries, in Form No.AOC-1.

15. Note that nothing with relation to manner of consolidation of accounts as prescribed in the rule 6 of the companies (Accounts) Rules, 2014.

(a) The composition of consolidated financial statements allowed subsidiary other than a wholly-owned subsidiary whose instant parent is a company registration outside India.

(b) The financial statement by a company having subsidiary or subsidiaries registration outside India only for the financial year commencing on or after 01.04.2014.

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