Dear Friends,
There is a query which I have on the Consolidation of the subsidiaries accounts at the parent’s Balance sheet, as required under section 211 and 212 of the Companies Act, 1956.
Com ‘A’ have a Subsidiary ‘B’ registered at abroad and Sub ‘B’ had acquired two companies at abroad C and ‘D. Now the Balance Sheet of Com A which is the holding Company got approval by AGM in India on June, 2011 without consolidated accounts. Now the management wants the audited consolidated accounts to be placed before the Board of Com A. My question is can the Board of Com A adopt the Consolidated account and include in the Balance sheet of Com A or they need to hold another AGM for adopting that audited consolidated accounts?
Sachin
