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[Cites 0, Cited by 0] [Section 2(1)] [Section 2] [Entire Act]

Union of India - Subsection

Section 2(1)(b) in The Petroleum and Natural Gas Regulatory Board (Affiliate Code of Conduct for Entities Engaged in Marketing of Natural Gas and Laying, Building, Operating or Expanding Natural Gas Pipeline) Regulations, 2008

(b)"affiliate" means an associated person in relation to the entity or the entity in relation to an associated person-
(i)who participates directly or indirectly or through one or more intermediaries in the management or control or capital of the entity or an associated person, as the case may be;
(ii)who holds, directly or indirectly, shares carrying not less than 26% of the voting power in the entity or associated person, as the case may be;
(iii)who appoints more than half of the board of directors or members of the governing board, or one or more executive directors or executive members of the governing board of the entity or the associated person, as the case may be; or
(iv)who guarantees not less than l0% of the total borrowings of the associated person, as the case may be.