Petitioner-Co allowed to revise financial statements as its accounts didn’t have any effect of demerger : NCLT

COMPANY LAW : Where while demerger and transfer of one of unit of petitioner company was approved with appointed date of demerger as 1-4-2017, accounts of petitioner company for financial year 2017-18 were duly filed and adopted and therefore, accounts of petitioner company for said year could not show any effect of demerger, thus, petitioner company was to be allowed to file revised financial statement for Financial year 2017-18

from www.taxmann.com Latest Case Laws https://www.taxmann.com/topstories/101010000000189614/petitioner-co-allowed-to-revise-financial-statements-as-its-accounts-didn’t-have-any-effect-of-demerger-nclt.aspx