related parties

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All about Related Party Transactions – Part 4 (Disclosures, Audit Committee, Registers, Meeting notices, Penalties)

Disclosures Companies Act 2013 Specified Transactions – Non Arm’s Length transactions & Material Arm’s Length transactions To be reported vide Form AOC-2 LODR Half yearly on consolidated basis AS/Ind AS All transactions Audit Committee Approval or any subsequent modification of RPTs In case of RPTs other than those referred to in Sec 188, Audit Committee …

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SEBI Warns Billionaire Anil Agarwal’s Vedanta Over Rs 1407 Crore Related-Party Transactions

SEBI Warns Billionaire Anil Agarwal’s Vedanta Over Rs 1,407 Crore Related-Party Transactions

Capital market regulator SEBI has warned billionaire Anil Agarwal’s Vedanta Ltd for executing Rs 1,407 crore of related-party transactions without prior approval of the audit committee. In a warning letter, which Vedanta as per SEBI directions disclosed to stock exchanges, the regulator said it will take action if such actions were repeated in future. The mining conglomerate’s …

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All about Related Party Transactions – Part 3 (Voting and Approval))

Voting (Sec 188, Sec 184) The basic question anyone can raise now is that “Can a Related party vote?” If yes, in what circumstances? Listed Companies – RPs can’t vote (whether party to transaction or not) All Material RPTs shall require approval of the shareholders through a resolution (Regulation 23) Unlisted Public Companies – If …

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All about Related Party Transactions – Part 1 (Definition Part)

Framework Companies Act – Sections 177 & 188 SEBI (LODR) – Regulation 23 Accounting – AS 18, Ind AS 24 What is a Related Party? (Answered as per Companies Act) Individual Sense :- Director, Relative of Director KMP, Relative of KMP Director (and his/her relative) of Holding Company (Except Independent Director) KMP (and his/her relative) …

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