CA, CS, CMA : Focusing only on receivables can miss significant risks embedded in related-party payables. A bilateral review reveals internal gr...
Company Law : The article explains when Audit Committee, Board, and shareholder approvals are required for Related Party Transactions. It provid...
Company Law : The article explains how Audit Committee, Board, and shareholder approvals apply to related party transactions under corporate law...
Company Law : The analysis clarified that shareholder protection is ensured through ultimate parent consolidation. Hence, intermediate companies...
SEBI : The updated Regulation 23 framework introduces turnover-linked thresholds for related party transactions. Listed companies must re...
Company Law : The Ministry of Corporate Affairs details measures to ensure transparency and prevent fund diversion in Related-Party Transactions...
SEBI : SEBI is consulting on amendments to LODR Regulations regarding Related Party Transactions. Proposals include new materiality thres...
Company Law : NFRA highlights auditor responsibilities in related party transactions, emphasizing compliance with Ind AS 24, SEBI regulations, a...
SEBI : SEBI seeks public feedback on strengthening secretarial compliance reports, auditor appointment criteria, and related party transa...
SEBI : What does ‘Where a transaction is undertaken between members of the consolidated entity (between the listed entity and its subsi...
Excise Duty : CESTAT Chandigarh held that the manufacturer and marketing company could not be treated as related persons under the Central Excis...
Income Tax : In a landmark ruling, the Delhi High Court held that government shareholders are not automatically considered related parties und...
SEBI : A detailed analysis of SAT Mumbai's decision to reduce SecureKloud Technologies' penalty for non-serious LODR violations, and its ...
Company Law : Bar of voting as per Section 188 of the Companies Act, 2013 on related parties operated only at the time of entering into a contra...
Income Tax : Commissioner issued a show cause notice under section 263 and ultimately passed impugned order; by that time the alleged domestic ...
Company Law : ROC Mumbai penalised a company and its directors for failing to disclose a related party loan transaction in the Board’s Report ...
Company Law : The authority penalized directors for executing related party transactions without fresh or valid approvals. It held that reliance...
Company Law : The company relied on old resolutions for ongoing related party transactions. The authority held that fresh approvals are mandator...
Company Law : The company continued related party transactions based on old approvals. The authority held that fresh approvals are mandatory, le...
Company Law : The issue involved non-compliance with approval requirements for related party transactions. The authority held that absence of Bo...
Navigate the complexities of Related Party Transactions in business. Understand the regulations, disclosure requirements, and legal framework under Section 188 of the Companies Act 2013 in India. Learn about the thresholds, approval processes, and consequences of non-compliance.
LODR Regulations take precedence over suggestions by the Institute of Company Secretaries of India (ICSI) and other authorities regarding related party transactions (RPTs).
Explore the comprehensive guide on Related Party Transactions under SEBI (LODR) Regulations. Understand key provisions, approval stages, exemptions, and disclosure obligations. Stay informed to ensure transparency and compliance in corporate governance.
A recent case involving M/s. Sun Pharmaceutical Industries and M/s. CJ Goswami & Associates, their Practicing Company Secretary, has highlighted the consequences faced by a secretarial auditor for their failure to report material related party transactions in their audit report.
Order against Violation of Section 189 read with Section 188 of the Companies Act, 2013 by M/s. Adani Power Limited- The order states that an inquiry was conducted by the Office of the Registrar of Companies, Ahmedabad, based on a directive from the Ministry of Corporate Affairs. During the inquiry, it was found that the company […]
We are substantially covering here the amendment which shall be applicable from 1st April 2023 keeping in mind the changes done w.e.f. 1st April 2022 w.r.t. Change in definitions, thresholds of material transactions, enhanced role of Audit committee, Shareholders Approval on RPT and stock exchange disclosures along with the rationale behind this paradigm shift in the RPT approval and disclosures requirement.
Statutory Auditor of the company play a crucial role while conducting audit and submission of their report. In this case, the statutory auditor has made omission of reporting of RPTs and it is negligence of their duty.
Inquiry into affairs of the company is independently directed by the Ministry of Corporate Affair to this office to investigate the Related Party Transaction matter of the Sun Pharmaceutical Industries Ltd. with Aditya Medisales Ltd covering the FY 2014-15 to 2017-18 and the omission of reporting of Related Parties Transaction (RPTs) and violation of the provisions the Companies Act, 2013.
Related Party Transactions are commercial transactions between related parties. Companies regularly leverage their existing resources and enter into agreements with pre-existing networks.
Explore the regulations governing Related Party Transactions (RPT) under the Companies Act, 2013. Understand the definitions, procedures, and conditions for RPT, along with the implications of non-compliance.
