Section 79(2) in Insolvency And Bankruptcy Code, 2016
(2)"associate" of the debtor means-(a)a person who belongs to the immediate family of the debtor;(b)a person who is a relative of the debtor or a relative of the spouse of the debtor;(c)a person who is in partnership with the debtor;(d)a person who is a spouse or a relative of any person with whom the debtor is in partnership;(e)a person who is employer of the debtor or employee of the debtor;(f)a person who is a trustee of a trust in which the beneficiaries of the trust include a debtor, or the terms of the trust confer a power on the trustee which may be exercised for the benefit of the debtor; and(g)a company, where the debtor or the debtor along with his associates, own more than fifty per cent. of the share capital of the company or control the appointment of the board of directors of the company.Explanation. - For the purposes of this sub-section, "relative",with reference to any person, means anyone who is related to another, if-(i)they are members of a Hindu Undivided Family;(ii)one person is related to the other in such manner as may be prescribed;
