Industry Standards on “Minimum information to be provided for review of the audit committee and shareholders for approval of a related party transaction”

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....nd Industry of India (ASSOCHAM) Federation of Indian Chambers of Commerce and Industry (FICCI) Confederation of Indian Industry (CII) Dear Sir/Madam, Sub: Industry Standards on "Minimum information to be provided for review of the audit committee and shareholders for approval of a related party transaction" 1. Regulation 23(2), (3) and (4) of SEBI (Listing Obligations and Disclosure Requireme....

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....viz. ASSOCHAM, CII and FICCI, under the aegis of the Stock Exchanges, has formulated industry standards, in consultation with SEBI, for minimum information to be provided for review of the audit committee and shareholders for approval of RPTs. The industry associations which are part of ISF (ASSOCHAM, FICCI, and CII) and the stock exchanges shall publish the industry standards on their websites. ....

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....raph: "The notice being sent to the shareholders seeking approval for any RPT shall, in addition to the requirements under the Companies Act, 2013, include the information as part of the explanatory statement as specified in the Industry Standards on "Minimum information to be provided for review of the audit committee and shareholders for approval of a related party transaction"." 5. This circ....