https://www.taxtmi.com/article/detailed?id=11983 Related party transactions entered without prior audit committee and board approval, appointments of relatives causing conflict with independence criteria, and failure by the company secretary to disclose initiation of a forensic audit were held to violate the Listing Obligations and Disclosure Requirements. Subsequent ratification did not cure the prior breach. The appellate body affirmed violations but, correcting the applicable penal framework and applying proportionality and mitigating facts, reduced the monetary penalties on the company, the independent directors, and the company secretary. en-us Wed, 25 Oct 2023 09:59:04 +0530 Wed, 25 Oct 2023 09:59:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=11983 Related party transactions entered without prior audit committee and board approval, appointments of relatives causing conflict with independence criteria, and failure by the company secretary to disclose initiation of a forensic audit were held to violate the Listing Obligations and Disclosure Requirements. Subsequent ratification did not cure the prior breach. The appellate body affirmed violations but, correcting the applicable penal framework and applying proportionality and mitigating facts, reduced the monetary penalties on the company, the independent directors, and the company secretary. Articles Corporate Laws / IBC / SEBI Wed, 25 Oct 2023 09:59:04 +0530 https://www.taxtmi.com/article/detailed?id=11983