IN RE Vs. SHAMIR OPTICAL PVT LTD

JUDGEMENT

(1.) The Petitioner Company filed this Company Petition seeking the relief that it may be permitted to have its Financial Year starting from 1st January, and ending on 31st December, every year for making/aligning its consolidation of accounts with the Holding Company (incorporated in India) and Parent Company (incorporated outside India).

(2.) The Petitioner company was incorporated on 19.9.2016, having CIN: U74999MH2016PTC286016, as a private limited company under the Companies Act, 2013, having its registered office at Unit No. 343/B, Spec House, Ramchandra Lane Ext. Opp. Paras Industrial Estate, Malad West, Mumbai 400064.

(3.) Petitioner Company submits that it is a 100% wholly owned subsidiary of M/s. Shamir Asia PTE Ltd. incorporated in Singapore. The petitioner submits that the holding company follows 1st January to 31st December of every year as its financial year. The Petitioner company presently follows 1st April to 31st March, as its financial year. The Petitioner company wants to align its Financial Year with the Holding company for consolidation of its Accounts.