Latest News | Sebi Extends Deadline Till Jul 1 for Complying with Industry Standards on Related Party Transactions

New Delhi, Mar 21 (PTI) Markets regulator Sebi on Friday extended the deadline for listed entities by three months to July 1 for complying with the industry standards on minimum information to be provided for review by the audit committee and shareholders when seeking approval of a related party transaction.

Earlier, the industry standards were set to become effective from April 1, 2025.

Also Read | Ladki Bahin Yojana Installment Hike: INR 2,100 Kist To Be Given Only After Financial Position Improves, Says Maharashtra Finance Minster Ajit Pawar.

"Sebi has received feedback from various stakeholders requesting an extension of the timeline for the applicability of the industry standards. Accordingly, it has been decided that the effective date of the circular shall be July 1, 2025," the regulator said in a circular.

The Industry Standards Forum (ISF) comprising representatives from three industry associations -- ASSOCHAM, CII and FICCI -- which had formulated the industry standards, will take into consideration the feedback received for simplification of the industry standards and release the same in a time-bound manner to meet the revised timelines.

Also Read | Bihar Diwas 2025 Date, Theme, History and Significance: When Is Bihar Day? Know All About the Celebrations of the Day That Marks the Formation of Bihar in 1912.

In February, the regulator introduced industry standards for the minimum information that listed entities are required to provide to the audit committee and shareholders when seeking approval for related party transactions (RPT).

The industry associations and stock exchanges will publish these standards on their websites to facilitate a uniform approach and assist listed entities in complying with the requirements.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)