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A securities regulator revises listing guidance to relax minimum information required for audit committee and shareholder approval of related-party transactions (RPTs), following an industry forum representation, advisory committee review and board approval. The amendment requires entities to use the Industry Standards and prescribes Annexure-13A as the minimum disclosure to audit committees and shareholders, but permits reduced disclosures for RPTs not exceeding the lower of 1% of consolidated turnover or Rs.10 crore, and exempts transactions below Rs.1 crore. The changes are effective immediately and stock exchanges must notify listed entities.
A securities regulator revises listing guidance to relax minimum information required for audit committee and shareholder approval of related-party transactions (RPTs), following an industry forum representation, advisory committee review and board approval. The amendment requires entities to use the Industry Standards and prescribes Annexure-13A as the minimum disclosure to audit committees and shareholders, but permits reduced disclosures for RPTs not exceeding the lower of 1% of consolidated turnover or Rs.10 crore, and exempts transactions below Rs.1 crore. The changes are effective immediately and stock exchanges must notify listed entities.
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TaxTMI 
TaxTMI 
