TaxTMI 
TaxTMI 
2017 (2) TMI 700
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....lication filed before CLB under Section 2(41) of the Companies Act, 2013, which was numbered as CA/ 122/2016, then came to be transferred to NCLT and re-numbered as TCA/41/2016. This application has been filed on behalf of M/s. HABASIT IAKOKA PVT. LTD. which has been incorporated under the Companies Act, 1956 on 15th October 1992 under the name and style of 'IAKOKA BELTRANS PRIVATE LIMITED'....
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....fabricate, assemble, design, develop, improve, produce, import, export and distribute as wholesale and retail dealers, merchants, commission agents, brokers of all types of Transmission Systems and Transmission belts made of Synthetic and/or natural Rubber and Chemicals. The company is a subsidiary to a foreign company, the name of which is M/s. HABASIT HOLDING Ag. Switzerland. The documents perta....
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....globe by the Holding Companies. Therefore, in order to serve the said purpose, the Applicant Company is essentially required to retain the financial year commencing from January 1st ending December 31st every year, so as to align the financial year with its Holding Group of Companies that have been incorporated outside India. In this connection, an approval seems to have been granted by the ....
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....t ending December 31st every year for consolidating its accounts with the Holding Company. 3. In the light of the above, this Bench is satisfied that the prayer of the Applicant Company is genuine and in exercise of the powers conferred under First Proviso to Sec.2(41) of the Companies Act, 2013, do hereby allow the Applicant company to retain and follow the financial year starting January ....