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part of ques: Joanne Smith has owned 60% of the equity shares of Picture and 70% of the equity shares of Frame for many years.
part of ans: Picture and Frame are under joint control of Joanne Smith, so this means that they are related parties.
Sir how can a joint control exist? aren’t both under “(simply under) CONTROL of Jonanne smith”
instead of “JOINT CONTROL”!
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