27 October 2010
Substantial interest means the one entity / person has financial interest > then of a specific predefined % in the capital of the other entity / person where as the significant influence means that a person / entity has influence on the other by way of board seat or sales contract loan contract etc even without any financial investment.
28 October 2010
a person is said to hv significant influence over othr when he has direct or indirect control over the managerial/decision making power or conducting affairs of the business of the other person it may be by holding substantial equity, funding, board membership or by any othr way of participation in management.
& substantial interest as explained above means financial interest beyond a specified % making it SUBSTANTIAL
CAclubindia
