Legal Question in Constitutional Law in India
A holding company has 14 subsidiaries with all financial years Jan to Dec. It forms a new subsidiary (15th) company in June 2010 and its first financial year will be June - Dec 2010. The holding company obtains exemption under sectoin 212 of the Companies act from publishing balance sheets of its subsidiaries.
Now the holding company is making application to central govt to seek exemption from attaching balance sheets of its subsidiairies in the annual report.
My query is should the holding company make applicaiton for 15th subsidiary also? If yes, while making application to CG it submits the audited accounts of 14 subsidiaries for 2009. What documents shall be submitted for 15th Company?
Asked on 10/04/10, 2:21 am
1 Answer from Attorneys
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