Position of Associate Company: Before and After 2016 Amendment Bill

Abstract

In a nutshell, the objective of this making is to ascertain and look out for a source that can be greatly relied upon when the aspect of determination of an associate company pops up, in the light of legislative intent. As we are discussing this topic, the Lok Sabha has already launched an amendment bill, which seeks to make the definition universal under all business and regulatory laws. This goes on to show that there is an existing lacuna in the law, which the proposed legislation wants to eradicate. Even though this is not a generally taken legal argument, still, the Supreme Court has opined this view and decided in sync with the proposed legislation. This project is aimed at not only understanding that particular lacuna, but also the problems that can come with the same and the contradicting scenarios that may appear because of it, but also about how the new legislation is supposed to work in a different, more effective direction, and analyzing how the changes will take their course.