(76)“related party”, with reference to a company, means—(i)a director or his relative;(ii)a key managerial personnel or his relative;(iii)a firm, in which a director, manager or his relative is a partner;(iv)a private company in which a director or manager [or his relative;Ins.by S.O.1894 (E),dated 24th July, 2014] is a member or director;(v)a public company in which a director or manager is a director [and holds; Subs. by S.O. 1820 (E), dated 9th July, 2014 for “or 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 accordance with the advice, directions or instructions of 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 (vi) and (vii) shall apply to the advice, directions or instructions given in a professional capacity;[[(viii) any body corporate which is—(A)a holding, subsidiary or an associate company of such company;(B)a subsidiary of a holding company to which it is also a subsidiary; or(C)an investing company or the venturer of the company.Explanation.—For the purpose of this clause, “the investing company or the venturer 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;Subs. by Act 1 of 2018, s. 2, for sub-clause (viii) (w.e.f. 9-2-2018)]](ix)such other person as may be prescribed;
