SEBI provided clarification on applicability of Regulation 23(4) read with Regulation 23(3)(e) of the SEBI Listing Obligations and Disclosure Requirements (“LODR”) Regulations, 2015 in relation to Related Party Transactions (“RPT”) – K&A Law Offices

SEBI provided clarification on applicability of Regulation 23(4) read with Regulation 23(3)(e) of the SEBI Listing Obligations and Disclosure Requirements (“LODR”) Regulations, 2015 in relation to Related Party Transactions (“RPT”)

SEBI provided clarification on applicability of Regulation 23(4) read with Regulation 23(3)(e) of the SEBI Listing Obligations and Disclosure Requirements (“LODR”) Regulations, 2015 in relation to Related Party Transactions (“RPT”)

SEBI vide its Circular dated April 8, 2022 has clarified the following:
Regulation 23(3)(e) of the SEBI LODR Regulations specifies that omnibus approval granted by the audit committee shall be valid for a period not exceeding one year and shall require fresh approvals after expiry of one year. Regulation 23(4) of the SEBI LODR Regulations requires shareholder approval for material RPTs.
Listed entities which have obtained shareholders’ approval of omnibus RPTs in Annual General Meeting shall be valid till next AGM (for a period not exceeding 15 months).
Shareholder’s approval obtained in general meetings other than AGM shall be valid only for a period of 12 months.

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