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2017 (2) TMI 699 - NATIONAL COMPANY LAW TRIBUNAL CHENNAI

2017 (2) TMI 699 - NATIONAL COMPANY LAW TRIBUNAL CHENNAI - TMI - Prayer to follow financial year from 1st January to 31st December as per the First Proviso to Sec.2(41) of the Companies Act, 2013 - consolidation of accounts - Held that:- As 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 1st January to 31st December as financial year, to which the Board of Directors of M/s .....

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set of application seems to have been forwared on 2nd of December 2016 to the ROC concerned. - Thus we are satisfied that the applicant company [which is a subsidiary of M/s. Bill Forge Private Limited (Holding Company), 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 follo .....

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T 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 1st January to 31st 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 Limited" bearing CIN : U29253TZ2016PTC022193 having its Registered office at No. 1/178, Pollachi Main Road, Ganesh Nagar, Malumachampatti, Coimbatore (TN) 641 021. .....

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Holding Company of M/s Bill Forge Private Limited), a company incorporated under the laws of India, having its registered office at Mahindra Towers, 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 Ho .....

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M/s. Bill Forge Private Limited is held by M/s. CIE Automotive SA, which is the Ultimate Holding Company incorporated under the laws of Country of Spain, having its registered office at Alameda Mazarredo, 69-80 48009 Bilbao Vizcaya Spain., is following the financial year from January 1st ending December 31st as its financial year. 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 .....

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