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Editorial Board on Accounts and Audit
  • Consolidation of Accounts

    by rahul on Wednesday, July 20, 2016 at 03:24 PM

    A Company was having 31% holding in B Company as at 31 March 2015.A Company was not having any control on activities of B Company. Hence no consolidation was required under AS 21 and consolidation under Companies act 2013 was deferred till 31 March 2016. But in FY 2015-16, A Company has sold its holding to third party and A Companies holding in B Company reduced to 1% as at 31 March 2016. Whether consolidation under Comapanies act 2013 will be required for FY 2015-2016?

    Replied byEditorial Board Thursday, July 28, 2016 at 07:30 PM

    No. Consolidation shall not be required for FY 2015-16.

 
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