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As per the proviso to sec 129(3) Subsidiary company included Associates Companies also. Further as per regulation 16 (1) (c ) of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 Definition “material subsidiary” which mean a subsidiary, whose income or net worth exceeds twenty percent of the consolidated income or net worth respectively, of the listed entity and its subsidiaries in the immediately preceding accounting year. So Does consolidated income or consolidated net worth mean consolidated income as per Section 129 (3) as per Companies Act 2013 or Consolidation is required for Holding and Subsidiary only Excluding Associates Company for the purpose of interpretation of regulation?

Associate

Posted By: Prerna kapoor 8 year(s) ago

This question has been closed if you want to answer,you have to re-open.


Expert    Ankit Singhi

this will not include associate company

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