Companies (Accounts) Rules, 2014 - Manner of Consolidation - No Subsidiary

Nothing in Rule 6 shall apply in respect of preparation of consolidated financial statement by an intermediate wholly-owned subsidiary, other than a wholly-owned subsidiary whose immediate parent is a company incorporated outside India. No CFS (Consolidated Financial Statements) need to be prepared in such cases at each level. In case of a company which does not have a subsidiary or subsidiaries but has one or more associate companies or joint ventures or both, for the consolidation of financial statement in respect of associate companies or joint ventures or both, will not apply during 2014-15. MCA Notification dtd. 14th October, 2014