Govt defines ‘group company’

The government on Monday clarified that a group company is one in which two or more enterprises can directly or indirectly exercise at least 26% voting rights of another company, or can appoint more than 50% of its board of directors.

The government on Monday clarified that a group company is one in which two or more enterprises can directly or indirectly exercise at least 26% voting rights of another company, or can appoint more than 50% of its board of directors.

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This definition will likely clear the air on two separate firms from the Bharti group: Bharti Walmart its 50-50 cash-and-carry venture and Bharti Retail, its multi-brand retail firm.