Sir, Kindly please explain these 2 statements again<br />1. Section 136 – foreign subsidiary required to prepare consolidated FST under foreign law, it will be fine if only one consolidated FST are uploaded on website? 2. NFRA Rules – relinquish post earlier of 3 months, appointment of successor or end of term whichever is earliest?
As per Sec 136 separate financial statements of each and every subsidiary should be uploaded on website. So from this each and every foreign subsidiary should upload financial statements. To reduce hardship they said if foreign company is preparing consolidated financial statements of its subsidiaries then it will be enough if one consolidated financial statements are uploaded.
NFRA Rule — If person resigns on 1st of July it will become effective on 1st October or End of his Term (Say 15th Sept) or appointment of successor (Say 1st Sept) whichever is earlier so this will be 1st Sept