Subsidiary Company / CFS

[Nandish Dave]

Sir / Madam,

One company has Incorporated a 100℅ Subsidiary company in UK in FY 2017-18.

But, no financial transaction had been took place till date between Indian Company and Subsidiary Company.

Subscription money is also not paid. Balance Sheet of Indian company  doesn't show any amount of Investment.

Subsidiary is also not doing any business and even bank account is yet to open.

In this light, is it required to prepare Consolidated Financial Statements. And if yes, than how??? Because no financial transaction have been taken place.

Thanks.

-Nandish

[Umesh Vyas]

Dear Nandish,

Even if one may consolidate or not, result is one and same and no financial transaction has taken place, though better to consolidate with  "00" value for the sake of compliance.

Regards,

Umesh Vyas

With Best Regards,

For Umesh Vyas & Associates

Umesh Vyas.

B.Com., LL.M., ACS

Practising Company Secretary.

Mob.:09427630539

--
--
************************************************
Mail your comments, feedback and suggestions on CSMysore to Moderator: datta...@gmail.com and Manager: vivekhe...@gmail.com
---
You received this message because you are subscribed to the Google Groups "CSMysore" group.
To unsubscribe from this group and stop receiving emails from it, send an email to csmysore+unsubscribe@googlegroups.com.
For more options, visit https://groups.google.com/d/optout.

[Nandish Dave]

Dear Sir,

Well Noted. Your View is quite helpful. Indebted. 

जय हिन्द...

Thanks & Regards,

Nandish Dave

Company Secretary

Cell No.  :   09825303126

E-Mail    :   nandis...@gmail.com

To unsubscribe from this group and stop receiving emails from it, send an email to csmysore+u...@googlegroups.com.

For more options, visit https://groups.google.com/d/optout.

--
--
************************************************
Mail your comments, feedback and suggestions on CSMysore to Moderator: datta...@gmail.com and Manager: vivekhe...@gmail.com
---
You received this message because you are subscribed to the Google Groups "CSMysore" group.

To unsubscribe from this group and stop receiving emails from it, send an email to csmysore+u...@googlegroups.com.

[Challa Madhukar]

Dear Nandish,

Keep a copy of the return submitted by the Subsidiary, with HMRC, for your records - to be on the safer side.

Regards,
Challa Madhukar
FCMA, CS, ACCA (UK), ADAB (UK), CMA(USA)

[Nandish Dave]

Well Not Sir. Many thanks for your important advice. Indebted.

जय हिन्द...

Thanks & Regards,

Nandish Dave

Company Secretary

Cell No.  :   09825303126

E-Mail    :   nandis...@gmail.com