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of <h1>Audit Committee Must Approve Annual Omnibus Related Party Transactions; Includes Conditions and Caps at One Crore Per Transaction.</h1> Omnibus approval for related party transactions on an annual basis requires the Audit Committee's consent, which can be granted subject to specific conditions. The committee must establish criteria, including maximum transaction values and disclosure requirements, after Board approval. Factors like transaction repetitiveness and the necessity for omnibus approval must be considered. Approval details should include related party names, transaction nature, duration, and pricing. If unforeseen, approval is capped at one crore rupees per transaction. Valid for one financial year, it excludes transactions involving company undertakings. Additional conditions may be set by the Audit Committee.
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