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2012 (5) TMI 129 - HC - CustomsWhether Tata Teleservices (Maharashtra) Ltd. and Tata Consultancy Services Ltd. cannot be considered as group companies under para 9.28 of the Foreign Trade Policy 2004-2009. – Held that:- The Policy Interpretation Committee has not assigned any reasons as to why the petitioner company and TCS cannot be considered as group companies - petitioner indirectly fulfills the first condition set out in para 9.28 of the Foreign Trade Policy as Tata Sons Ltd held 74% equity shares of TCS and 21% equity shares of the petitioner company giving the petitioner to exercise 26 per cent or more of voting rights in TCS – in favour of assessee.
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