Section 2 - Amendment of section 2 - Companies (Amendment) Act, 2019

Amendment of section 2 2 . In section 2 of the Companies Act, 2013 (18 of 2013) (hereinafter referred to as the principal Act), in clause (41),- (a) for the first proviso, the following provisos shall be substituted, namely:- Provided that where a company or body corporate, which is a holding company or a subsidiary or associate company of a company incorporated outside India and is required to follow a different financial year for consolidation of its accounts outside India, the Central Government may, on an application made by that company or body corporate in such form and manner as may be prescribed, allow any period as its financial year, whether or not that period is a year: Provided further that any application pending before the Tribunal as on the date of commencement of the Companies (Amendment) Act, 2019, shall be disposed of by the Tribunal in accordance with the provisions applicable to it before such commencement. ; (b) in the second proviso, for the words Provided further that , the words Provided also that shall be substituted.