IN RE Vs. MORESCO HM&LUB INDIA PVT LTD

JUDGEMENT

(1.) Moresco HM&LUB India Private Limited, a Company incorporated under the provisions of the Companies Act, 2013, having its Registered Office at Unit No. 806/B, Pinnacle Building, Prahlad Nagar, Ahmedabad-380015, Gujarat, filed this petition under Section 2(41) of the Companies Act, 2013, seeking permission of this Tribunal to follow the Financial Year from 1st January to 31st December every year.

(2.) The facts in brief, that are necessary to adjudicate the r request of the Petitioner Company, are as follows;

(3.) It is stated in the Petition that Holding Company is following the Financial Year from March to February of every year. Petitioner filed the audited consolidated Financial Statements of the Holding Company as on February 28, 2017 vide Annexure P-7. The Holding Company gave consent to the Petitioner Company to follow the Financial Year that is being followed by the Holding Company, i.e., from January to December, for consolidation of accounts vide Annexure P-7. The Petitioner Company has filed the Unaudited Financial Statement of the Company as on 31st March, 2017; and Securities Listing Regulations of Tokyo Stock Exchange and extracts from the Guidelines on draft of Earning Reports and Quarterly Earning Reports. > -