whereabout of Group of companies

Querist : Anonymous (Querist) 26 December 2010 This query is : Resolved
Where would i get the concept of Group of Companies? is it involved with any provision of law if yes then what?

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Arun Kumar Bhagat (Expert) 26 December 2010
NO it is not involved with any provision of law.

Kirti Kar Tripathi (Expert) 26 December 2010
to my knowledge, it is not involved with any provision of law.

s.subramanian (Expert) 27 December 2010
There is no separate law governing the group companies concept. Indian companies Act alone deal with it.

Advocate. Arunagiri (Expert) 27 December 2010
There is no separate entity called group of companies. Many of them claims as XX group of companies.

There is no clarification regarding the promoter in the companies Act.

Promoters are persons who worked for the formation of the company.

Any company which is promoted by common promoters is called group of companies.

Adv.Shine Thomas (Expert) 28 December 2010
Group of Companies are several companies under common ownership and management.It is involved with Companies Act and Income Tax Act.

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