IN RE Vs. RENESAS ELECTRONICS INDIA PRIVATE LIMITED

JUDGEMENT

(1.) This petition is filed by the Petitioner Company 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 aligning of its accounts with its Holding Company in line with global practice.

(2.) The averments made in the Company Application are briefed hereunder:-

(3.) The main objects of the Company is to engage in the business of development, design, import, export, sale, rental, lease, disposal of Semiconductor products and related technology etc., Details of the objects of the Company are mentioned in the Memorandum and Articles of Association of the Petitioner Company.