Speaking at an event in Mumbai, Chairperson Buch said that Market Regulator, The Securities and Exchange Board of India, on Friday approved an industry standard platform for the revelations around the respective party transactions.
At the launch of the RPT disclosure website, Buch said, “The industry itself has come up with clear guidelines on the minimum revelation companies, when RPT approval should be sought – both at the audit committee level and when necessary, at the shareholder level,” Said at the launch of RPT disclosure website.
The website has been developed by three proxy advisory firms, namely, NGWAR Research Services, Institutional Investor Advisory Services (IIAS), and Stakeholder Empowerment Services (SES).
The chairperson also said that it would be ready to remove the entire listing obligations and disclosure requirements, but the regime around the respective-party transactions should be ensured.
This means that listed companies can see an increase in investigation on related party transactions.
Explaining the need for more revelations, Buch further mentioned, “We find that the largest number we get from institutional investors-which includes foreign investors-are about to create more transparency around SEBI related-party transactions What is doing for? “
He said that a protected investor is the one who is informed, whose responsibility falls on the regulator, and hence such revelations are required.
He said, “The quality of available information available to the members and public shareholders of the audit committee at the time of approval, at the time of approval, will greatly improve. This revelation will be completely different quantity compared to today.”
