The government said it was “positive” about the Irani Committee recommendations, which has suggested consolidating financial statements of subsidiaries with the holding company instead of attaching them separately. “Yes it can be done, if there is no obstacle in law,The question is how to keep corporate sector free of paper work. If this can be done before a comprehensive exercise, what’s the problem,” Company Affairs Minister Prem Chand Gupta said, when asked if these changes can be made before a new Companies Act is passed by Parliament. — PTI
