https://www.taxtmi.com/caselaws?id=339000 The National Company Law Tribunal (NCLT) granted approval to a company, a subsidiary of a foreign entity, to retain its financial year starting January 1st and ending December 31st for consolidation with its overseas holding company. Despite not aligning financials by the specified date, the Tribunal allowed the company to maintain the cycle for 2016 due to timely application. The Registrar of Companies was directed to accept the Balance Sheet filing for 2016 based on the approved structure. The NCLT disposed of the application, providing the requested relief to the company. en-us Fri, 03 Feb 2017 00:00:00 +0530 Thu, 16 Feb 2017 18:25:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339000 The National Company Law Tribunal (NCLT) granted approval to a company, a subsidiary of a foreign entity, to retain its financial year starting January 1st and ending December 31st for consolidation with its overseas holding company. Despite not aligning financials by the specified date, the Tribunal allowed the company to maintain the cycle for 2016 due to timely application. The Registrar of Companies was directed to accept the Balance Sheet filing for 2016 based on the approved structure. The NCLT disposed of the application, providing the requested relief to the company. Case-Laws Companies Law Fri, 03 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339000