Under Ind AS 110, a parent and its fellow subsidiary together hold voting rights in an investee. Parent holds 30%; fellow subsidiary holds 30%. If the parent has the ability to direct the fellow subsidiary's voting behaviour, then under the DE-FACTO AGENT framework:

Para B73-B74 + Example 5 — when a fellow subsidiary acts as the parent's de-facto agent (parent can direct its voting), the parent considers the de-facto agent's voting rights AS IF held directly. 30% + 30% = 60% effective control, potentially establishing power. The de-facto agent framework is about effective combined rights — but the parent must still demonstrate exposure to variable returns and the ability to use power.