Capital Market Regulator SEBI has brought some new industry standard. These are for the minimum information given to the Audit Committee and shareholders by the listed entities while getting approval for the standard related party transactions (RPT). 3 Industries Association- Industry Standards Forum (ISF) with Represses of Assocham, CII and FICCI has prepared these standard in consultation with SEBI.
The Securities and Exchange Board of India (SEBI) said in a circular that the Industries Association and the Stock Exchange will publish these standards on their websites to help a uniform approach and to help lue sted entities to comply with the necessary things. The new disclosure requirements will be applicable from 1 April 2025. The party transactions related to SEBI’s Lodr (Listing Obligations and Disclosure Requirements) Rules also require approval from audit committee and shareholders, if they are important if they are important.
Instructions to bring stock exchanges to the attention of content listed entities of circulars
As per the amendments, SEBI said that it is necessary to give the Mansion information to the Audit Committee in the Industry Standards while making any proposal for the review and approval of the RPT for listed entities. Similarly, with the notice sent to the shareholders to get approval for any RPT, the explantery statement will include information under the Companies Act, 2013 and other information. SEBI has directed the stock exchanges to bring the content of this circular to the attention of listed entities to ensure compliance.
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Dedicated RPT portal launch
SEBI has also launched a dedicated RPT portal to increase transparency in corporate transactions. SEBI’s hole time member Ashwini Bhatia said, “This portal will simplify the access of investors to important governance data on RPT. It will ensure that transparency in RPT is no longer limited privilege to institutional investors, but has access to all accessible rights to all. . “