Rule 40 Application under sub-section (41) of section 2 for change in financial year
- Chapter
- VI · Alteration and Conversion
40. Application under sub-section (41) of section 2 for change in financial year.-
(1) The application for approval of concerned Regional DirectorDefined in rule 2(e): Regional Director means the person appointed by the Central Government in the Ministry of Corporate Affairs as a Regional Director under sub-section (41) of section 2 , shall be filed in e-FormDefined in rule 2(c): Form or e Form means a form in the electronic form or non electronic form as specified under the Act or Rules made there under and notified by the Central Government under the Act No. RD-1 along with the fee as provided in the Companies (Registration Offices and FeesDefined in rule 2(d): Fees means fees as specified in the Companies (Registration offices and fees) Rules, 2014) Rules, 2014 and shall be accompanied by the following documents, namely:-
(a) grounds and reasons for the application;
(b) a copy of the minutes of the board meeting at which the resolution authorising such change was passed, giving details of the number of votes cast in favour and or against the resolution;
(c) Power of Attorney or Memorandum of Appearance, as the case may be;
(d) details of any previous application made within last five years for change in financial year and outcome thereof along with copy of order.
(2) Where the Regional DirectorDefined in rule 2(e): Regional Director means the person appointed by the Central Government in the Ministry of Corporate Affairs as a Regional Director on examining the application, referred to in sub-rule (1), finds it necessary to call for further information or finds such application to be defective or incomplete in any respect, he shall give intimation of such information called for or defects or incompleteness, on the last intimated e-mail address of the person or the company, which has filed such application, directing the person or the company to furnish such information, or to rectify defects or incompleteness and to re-submit such application within a period of fifteen days, **.
Provided that a maximum of two re-submissions shall be allowed.
(3) (a) In case where such further information called for has not been provided or the defects or incompleteness has not been rectified to the satisfaction of the Regional DirectorDefined in rule 2(e): Regional Director means the person appointed by the Central Government in the Ministry of Corporate Affairs as a Regional Director within the period allowed under sub-rule (2), the Regional DirectorDefined in rule 2(e): Regional Director means the person appointed by the Central Government in the Ministry of Corporate Affairs as a Regional Director shall reject the application with reasons within thirty days from the date of filing application or within thirty days from the date of last re-submission made as the case may be.
(b) In case where the application is found to be in order, Regional DirectorDefined in rule 2(e): Regional Director means the person appointed by the Central Government in the Ministry of Corporate Affairs as a Regional Director shall allow and convey the order within thirty days from the date of application or within thirty days from the date of last re-submission, as the case may be.
(c) where no order for approval or re-submission or rejection has been explicitly made by the Regional DirectorDefined in rule 2(e): Regional Director means the person appointed by the Central Government in the Ministry of Corporate Affairs as a Regional Director within the stipulated time of thirty days, it shall be deemed that the application stands approved and an approval order shall be automatically issued to the applicant.