[45NAA. Power in respect of group companies. —(1) The Bank may, at any time, direct a nonbanking financial company to annex to its financial statements or furnish separately, within such time and at such intervals as may be specified by the Bank, such statements and information relating to the business or affairs of any group company of the non-banking financial company as the Bank may consider necessary or expedient to obtain for the purposes of this Act.
(2) Notwithstanding anything to the contrary contained in the Companies Act, 2013 (18 of 2013), the Bank may, at any time, cause an inspection or audit to be made of any group company of a non-banking financial company and its books of account.
Explanation. — For the purposes of this section, —
(a) “group company” shall mean an arrangement involving two or more entities related to each other through any of the following relationships, namely: —
(i) subsidiary—parent (as may be notified by the Bank in accordance with Accounting Standards);
(ii) joint venture (as may be notified by the Bank in accordance with Accounting Standards);
(iii) associate (as may be notified by the Bank in accordance with Accounting Standards);
(iv) promoter-promotee (under the Securities and Exchange Board of India Act, 1992 (15 of 1992) or the rules or regulations made there under for listed companies);
(v) related party;
(vi) common brand name (that is usage of a registered brand name of an entity by another entity for business purposes); and
(vii) investment in equity shares of twenty per cent. and above in the entity;
(b) “Accounting Standards” means the Accounting Standards notified by the Central Government under section 133, read with section 469 of the Companies Act, 2013 (18 of 2013) and sub-section (1) of section 210A of the Companies Act, 1956 (1 of 1956).]