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Brat Inc. of the U.K. holds 9% shares in Pit Ltd. of India. The total book value of the Assets of Pit Ltd. is Rs.

Brat Inc. of the U.K. holds 9% shares in Pit Ltd. of India. The total book value of the Assets of Pit Ltd. is Rs. 57,25,000. Brat Inc. of the U.K. has given a loan to Pit Ltd. of Rs. 30,00,000. Examine whether Brat Inc and Pit Ltd. are associated enterprises.

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