20 August, 2015
The Ministry of Company Affairs'circular dated July 21, 2015 clarifies that a company holding a general meeting after giving shorter notice in accordance with the Companies Act, 2013 may also circulate financial statements at shorter notice that are to be discussed at such general meeting. The circular also clarifies that in case a holding/parent Indian company has a foreign subsidiary that is not legally mandated to get its accounts audited as per the legal requirements in the country of its incorporation and does not get such accounts audited, the holding/parent company may file unaudited accounts of such foreign subsidiary, translated in English if required, to comply with the requirements of the Companies Act, 2013.
For further information, please contact:
Sawant Singh, Partner, Phoenix Legal
sawant.singh@phoenixlegal.in
