Hi,

As per Section 2(76) read with Rule 3 of the Companies (Specification of definitions, details) Rules, 2014 of the Act, Related party with reference to a company means:

1. A director or key managerial personnel or relative thereof;

2. A firm, in which a director, manager, or his relative is a partner;

3. A private company in which a director or manager or his relative is a member or director;

4. A public company in which a director or manager is a director AND holds along with his relatives, more than two percent of its paid-up share capital;

5. Any Body Corporate whose Board of Directors, managing director, or manager is accustomed to act in accordance with the advice, directions or instructions of a director or manager.

(b) Any person on whose advice, directions, or instructions a director or manager is accustomed to act.
Note: nothing contained in clauses (a) and (b)  shall apply to the advice, directions or instructions given in a professional capacity.

6. Holding, subsidiary, or an associate company of such a company.

7. Subsidiary of a holding company to which it is also a subsidiary.

8. Investing company or the venturer of the company.

Explanation—” investing company or the venturer of a company” means a body corporate whose investment in the company would result in the company becoming an associate company of the body corporate

Note: Term relative in relation to a person means and includes Father, Mother, Son, Son’s wife, Daughter, Daughter’s husband, Brother, Sister, members of a HUF, Husband and wife

Thanks