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of <h1>SEBI Regulation 23: Listed Companies Must Approve Material Related Party Transactions with Audit Committee and Shareholder Oversight</h1> Regulation 23 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, mandates listed entities to establish a policy on the materiality of related party transactions, including threshold limits approved by the board. Transactions exceeding certain financial limits are deemed material and require prior approval from the audit committee, consisting solely of independent directors. The regulation outlines specific conditions for audit committee approvals, including the need for shareholder approval for material transactions. Exemptions exist for transactions between public sector companies, wholly-owned subsidiaries, and government-related entities. Disclosure requirements are specified for related party transactions, with periodic updates to stock exchanges and the public.
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