A Ltd has invested in 51% of the Paid- Up- Capital of LMN Ltd which in turn has invested 26% in the Paid- Up- Capital of X Ltd. What kind of relationship has come about between these companies? What will be the legal obligations of each of the companies with regard to disclosures?

Does the deposit of more than 50% of the Equity shares by a company with a financial institution to secure the interests of its debenture-holders bring about the relationship of 'group companies?