Permission from nclt for using different financial year

This query is : Resolved

Neha Chopra (Querist)
Follow

17 April 2014 Hi
can anyone please let me know time period in which NCLT permission can be taken for using different financial year in case the company is subsidiary of a company incorporated outside India as my client is having its year form 1st March to 28th feb and we have not taken any permission as yet.

Please reply its really urgent.

Regards
CA Neha Chopra

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

17 April 2014 not anymore...with Companies Act 2013 coming into force, the financial year has to be compulsorily April - March.

Message likes : 1 times

Neha Chopra

Neha Chopra (Querist)
Follow

18 April 2014 Hi thanks Mr. Kaushik for the frequent reply I have one more query that i have read in section 2(41) of companies Act, 2013 that the company is required to compulsorily change its financial year to april-march with in 2 years time from the enactment of the act but before that it needs to take permission from NCLT.
Please correct me if my wrong.

Kind Regards
CA Neha Chopra

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

18 April 2014 Sorry Neha...I missed out the "being subsidiary of a foreign company".

under first proviso to 2(41) you have to approach the tribunal for approval of different financial year. I apologize for any confusion that my earlier reply may have caused.

Neha Chopra

Neha Chopra (Querist)
Follow

18 April 2014 Hi Thanks for your reply Mr. Kaushik can you please let me know the period or the date latest by which i need to take permission from Tribunal.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

SARAVANAN PALANISAMY

GST Karimnagar state

Darshan

Krishnamohan Gangaraju

CA Bijo scaria

Subscribe Now

Permission from nclt for using different financial year

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA