ceneral Cttculat No, 39/2014

                                 No.412lzol4-Cl-l
                               Government of India
                            Ministry of Corporate Affairs

                                              sth Floor, "A' Wing, Shastri Bhavan,
                                                          Dr R.P. Road, New Delhi.

                                                     Dated: 14tLOctobos.2Ol4
To

All Regional Directors,
All Registrars of Companies,
All Stakeholders.s


Subject: Clastncation on nratters selrtlng to consolldated Flnarclsl
           Ststemert.
Sir,

        Government has received representations from stakeholders seeking
clariflcations on the manner of presentation of notes in Consolidated Financial
Statement (CFS) to be prepared under Schedule III to the Companies Act,
2013(Act). These representations have been examined in consultation with the
lnstitute of Chartered Accountants of India (ICAI) and it is clarified that Schedule
lll to the Act read with the applicable Accounting Standards does not envisage
that a company while preparing its cFS merely repeats the disclosures made by
it under stand-alone accounts being consolidated. In the CFS, the company
would need to give all disclosures relevant for CFS only.






       2. This issues with the approval of the competent authority.

                                                                      Yours faitlfully,
                                                                             A
                                                                      i..   ll


                                                                      ils$il#*tol
                                                            Assistant qirector (Policy)
Copy to:-

1, e-Governance Section and web contents Ofhcer to place this circular on the
Ministry website
2. Guard File