Please Help: Consolidated Financial Statements

A is 100% holding company of B & 80% holding company of C. A, B & C jointly holds 100% shares of D. Now, D is also holding company of many other companies like E.F.G.H, etc.. Whether, while making the CFS of A, subsidiaries of D also or not? Yes or No, please give a valid reason behind that? As per my understanding of the law, it should be considered in the CFS of A.