Para 5.2.21.1.2 under the heading "Trading" in the FDI Policy permits wholesale trade amongst companies of the same group. However, the terms "group company" has not been defined either in the policy or the FEMA. Can anyone please suggest the Act/ rules, etc. which defines the term "group company" and the definition therein.
In absence of any such definition what should be construed as a "group company" for the purpose of FDI.
Thanks.
CAclubindia
