SEBI: Circular On Industry Standards

The Securities and Exchange Board of India ("SEBI") vide circular dated February 14, 2025 ("Circular") inter alia introduced some amendments to certain parts of the Master Circular for compliance with the provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 by listed entities ("SEBI Master Circular"), in relation to minimum information to be provided for review of the audit committee and shareholders for approval of a related party transaction(s) ("RPTs").

Regulations 23(2), (3) and (4) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI LODR Regulations") mandate that inter alia all RPTs must be approved by the audit committee of the listed entity (through approval of only those members of the audit committee, who are independent directors) subject to certain conditions and all material RPTs must be approved by its shareholders through resolution, wherein no