(1.) THE applicant is a Company formed under the laws of the State of Ohio, USA and is a global manufacturer of engineered bearings, alloy and specialty steel related components. It was initially a joint venture between Timken USA and Tata Iron and Steel Company Limited ('TISCO'), subsequent to which the Company undertook a maiden public issue in the year 1991, and started commercial production one year later. Subsequently, Timken USA acquired the equity shares of the Company from TISCO in compliance with the laws of India. The dates of acquisition of shares of the Company by Timken USA are as below:
(2.) ON the above facts stated by the applicant, the following questions are formulated by the applicant for seeking advance ruling:
(3.) THE relevant provision of Section 10(38) is extracted as under: