2017 (2) TMI 699

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.... Under reference is an application that came to be filed before NCLT on 27th December 2016. This application has been filed under Sec. 2(41) of the Companies Act, 2013, praying therein to allow the Company to follow its financial year from 1^st January to 31^st December as per the First Proviso to Sec.2(41) of the Companies Act, 2013. The name of the applicant company is "BF Precision Private Li....

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...., P.K. Kurne Chowk, Worli, Mumbai, Maharashtra 400 018, acquired the entire share capital of M/s. Bill Forge Private Limited, by way of an Acquisition Agreement dated September 12, 2016 between Mahindra CIE Automotive Limited (Acquirer), the Company and Anil Haridass, Sunil Haridass, Anjali Powar Haridass, M.C. Mythili, Ravindra K., Hari K., Ainos Holdings Limited, Kedaara Capital Alternative Inve....

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....ear. 4.  In view of the above, in the Board Resolution passed by the applicant company on 11 November, 2016, it has been decided to seek permission from the NCLT to follow the calendar year starting from 1^st January to 31^st  December as financial year, to which the Board of Directors of M/s. Bill Forge Private Limited does not have any objection. A copy of the said Resolution is pla....

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....ny), which is further a subsidiary of M/s. Mahindra CIE Automotive Limited (the Holding Company of M/s. Bill Forge Private Limited) and which is a subsidiary of M/s. CIE Automotive SA (Ultimate Holding Company), a Company incorporated outside India], essentially requires to follow financial year from January 1^st ending December 31^st  as its financial year for consolidation of its accounts o....