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| Exchange Disseminated Time 11/01/2016 16:55:46 | Stovec Industries Ltd has informed BSE that pursuant to provisions of Section 2 (41) of the Companies Act, 2013, every company is required to follow uniform financial year from April 1 to March 31. The Company follows calendar year as its financial year i.e. from January 01 to December 31.
As per the first proviso to Section 2 (41) of the Companies Act, 2013, the Company had made an application to Company Law Board to seek its approval to continue to follow January 01 to December 31 as its financial year. The Company has received Order of the Hon'ble Company Law Board, New Delhi allowing the Company to continue with the calendar year as its financial year. |
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