Star Ltd. was incorporated on 1st January, 2016. Further, Star Ltd. has floated its subsidiary company incorporated in Germany for which the financial year ends with June every year. In light to the above, please determi

Section 2 (41) of the Companies Act, 2013 provides that 'financial year', in relation to any company or body corporate, means the period ending on the 31st day of March every year, and where it has been incorporated on or after the 1st day of January of a year, the period ending on the 31st day of March of the following year, in respect whereof financial statement of the company or body corporate is made up. In the light of the aforesaid provisions: The first financial year of Star Limited will be from 1st January, 2016 and shall end on 31st day of March, 2017.