96A. Definitions
In this Chapter, unless the context otherwise requires,-
(b) "applicant" means —
(i) a non-resident setting up a joint venture in India in collaboration with a non-resident or a resident; or
(ii) a resident setting up a joint venture in India in collaboration with a non-resident; or
(iii) a wholly owned subsidiary Indian company, of which the holding company is a foreign company,
who proposes to undertake any business activity in India and makes application for advance ruling;