2016 (9) TMI 353

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....on abolition of Company Law Board, Southern Region, Chennai Bench and renumbered TP No. 99/2016. This petition is filed by the Petitioner under section 2(41) of the Companies Act, 2013 with a prayer to permit the company which is a subsidiary of body corporate registered outside India to follow calendar year (1st January to 31st December) as its financial year for the purpose of consolidation of its accounts with its holding company. The averments in the application are briefly stated hereunder: The Applicant Company is a Private Limited Company, incorporated under the Companies Act, 2013 on 31/01/2014 under the name and style of "UNIVERSAL ROBOTS (INDIA) PRIVATE LIMTIED" vide Corporate Identity No. U29199KA2014FTC073359. The Registered ....

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.... Directors of the Petitioner Company at the meeting held on 28/8/2015 passed a resolution seeking for change of financial year to 1st January to 31st December. The Resolution of Board of Directors is enclosed with Petition. The Holding Company has also given consent for change of financial year to the Petitioner Company vide their letter dated 7/12/2015. The main object of the applicant company is to carry out the business in India and abroad, the business of construction, design, production, assembling and with respect to the business of robotics to sell purchase and market all kinds of electronic and computer components and to provide consultancy etc., Details of the main object of the Company are stated in the Petition. We have hea....