Financial year alignment: government may permit extension of a subsidiary's year so accounts and meetings align. Central Government may, on application or with the board's consent, direct postponement of dates for submission of accounts, holding of annual general meetings and filing of annual returns so that a subsidiary's financial year may end with that of its holding company, and must exercise this power where necessary to prevent the subsidiary's year end from preceding the holding company's year end by more than a limited period at commencement or on the relationship's formation.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Financial year alignment: government may permit extension of a subsidiary's year so accounts and meetings align.
Central Government may, on application or with the board's consent, direct postponement of dates for submission of accounts, holding of annual general meetings and filing of annual returns so that a subsidiary's financial year may end with that of its holding company, and must exercise this power where necessary to prevent the subsidiary's year end from preceding the holding company's year end by more than a limited period at commencement or on the relationship's formation.
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