SEBI Circular No.: SEBI/HO/CFD/CFD-PoD-2/P/CIR/2025/37 dated March 21, 2025
Ref to earlier SEBI Circular No.: SEBI/HO/CFD/CFD-PoD-2/P/CIR/2025/18 dated February 14, 2025
Relevant Act/ Rules/ Regulation: SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015; Part A and Part B of Section III-B of SEBI Master Circular dated November 11, 2024
Relevant Regulation: Regulation 23(2), (3) and (4)
1. SEBI had earlier vide Circular dated February 14, 2025 (“the Circular”) required listed entities to follow the Industry Standards on “Minimum information to be provided for review of the audit committee and shareholders for approval of a related party transaction” (“Industry Standards”) with effect from April 1, 2025. (Refer to our earlier Article on this –https://1-comply.com/2025/02/18/minimum-information-for-audit-committee-shareholders-in-rpt-approval/)
2. Thereafter SEBI had received feedback from various stakeholders requesting extension of timeline for applicability of the Industry Standards. Accordingly, it has been decided that the effective date of the Circular shall be July 1, 2025.
3. Also, the Industry Standards Forum (“ISF”) comprising of representatives from three industry associations, viz. ASSOCHAM, CII and FICCI, which had formulated the Industry Standards, shall 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.
Disclaimer: The information contained in this Article is intended solely for personal non-commercial use of the user who accepts full responsibility of its use. The information in the article is general in nature and should not be considered to be legal, tax, accounting, consulting or any other professional advice. We make no representation or warranty of any kind, express or implied regarding the accuracy, adequacy, reliability or completeness of any information on our page/article.