IN RE Vs. TIME MAUSER INDUSTRIES PVT LTD

JUDGEMENT

(1.) From the side of the Applicant, Learned PCS Mr. Ashish Shah is present. By placing reliance on the documents, Ld. Representative has pleaded that under the latest provisions of Section 2(41) of the Companies' Act, 2013, this Application was submitted on 9.6.2016, seeking direction to grant permission for adopting Calendar year as Financial year so that the accounts of the Applicant company should be consolidated with the accounts of the Holding company situated in Germany.

(2.) After perusing the documents on record and considering the provisions of the Act prima facie the Application appears to be correct. Hence, the permission is granted. Detailed order shall follow.

(3.) Therefore, the Petition is admitted, heard, disposed of and allowed.