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Informist, Friday, Mar. 21, 2025

 

NEW DELHI – The Securities and Exchange Board of India Friday pushed forward by three months the effective date for companies to comply with the enhanced and comprehensive industry standards on the minimum related party transaction information to be provided to a company's audit committee and shareholders while seeking approval for transactions. The effective date has been extended to Jul. 1 from Apr. 1, according to a circular by SEBI issued Friday.

 

SEBI had on Feb. 14 issued a circular that said that the standards specifying minimum information on related party transactions had been formulated by the industry standards forum and directed listed companies to comply with the enhanced standards with effect from Apr. 1.

 

In standards formulated by the forum comprising representatives from the Associated Chambers of Commerce & Industry of India, Federation of Indian Chambers of Commerce and Industry, and Confederation of Indian Industry, there was a comprehensive list of 88 points of disclosure of details pertaining to the related party and the transaction. In Friday's circular SEBI said it has received "feedback from various stakeholders requesting extension of timeline for applicability of the industry standards" and hence the decision to extend it by three months.  End

 

Reported by Rajesh Gajra

Edited by Saji George Titus

 

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