With globalization and liberalization companies started going global. While most of the countries relaxed its investment and trade policy opening doors for foreign players, they also enhanced legal framework under their respective corporate laws to determine liability of different group of companies, holding and associate companies. There has been a complex chain of companies which are related to each other by many means viz having managerial control, owning majority share capital, technology transfer etc. This article seek to determine the liability of such companies in different possible equations under global scenario.