The company shall also attach along with its financial statement, a separate statement containing the salient features of the financial statement of its subsidiaries.Under this section, the word subsidiary shall include associate company and joint venture.If a company contravenes the provisions of this section, the managing director, the whole-time director in charge of finance, the Chief Financial Officer or any other person charged by the Board with the duty of complying with the requirements of this section and in the absence of any of the officers mentioned above, all the directors shall be punishable with imprisonment for a term which may extend to one year or with fine which shall not be less than fifty thousand rupees but which may extend to five lakh rupees, or with both.RE OPENING OF ACCOUNTS (SECTION 130):A company shall not re open its books of account and shall not re cast its financial statement.On the application made by the Central Government, the Income tax authorities, the Securities and Exchange Board of India, any other statutory regulatory body or authority or any person concerned, a court of competent jurisdiction or the Tribunal may order such re opening or re casting of books of accounts. The application may be made if;1. the relevant accounts were prepared in a fraudulent manner; or2. the affairs of the company may mismanaged during the relevant period casting a doubt on the reliability of financial statements.The court or Tribunal shall give notice to all these authorities and consider the representations made by them before passing any order.VOLUNTARY REVISION OF FINANCIAL STATEMENTS OR BOARDS REPORT (SECTION 131):If it appears to the directors of a company that1. the financial statement of the company; or2. the report of the Board,do not comply with the provisions of section 129 or section 134 they may prepare revised financial statement or a revised report in respect of any of the three preceding financial years after obtaining approval of the Tribunal on an application made by the company. A copy of the order passed by the Tribunal shall be filed with the Registrar.