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What is related party ?
According to company Act 2013 section 2(76) define related party
v. A public company in which a director or manager is a director 2[and] holds along with his relatives, more than two per cent of its paid-up share capital;
vi. Any body corporate whose Board of directors, managing director or manager is accustomed to act in according with the advice, directions or instructions a director or manager;
vii. Any person on whose advice, directions or instructions a director or manager is accustomed to act:
Provided that nothing in sub-clauses (6) and (7) shall apply to the advice to the advice, directions or instructions given in a professional capacity;
Explanation.- For the purpose of this clause, “the investing company or the venture of a company” means a body corporate whose investment in the company would result in the company becoming an associate company of the body corporate;]