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Disclosure requirements tightened for RPTs by entities that have listed non-convertible debt securities: SEBI

The Securities and Exchange Board of India (SEBI) tightened disclosure requirements for related-party transactions (RPTs) by entities that have listed non-convertible debt securities. This follows up on an earlier Sebi directive that enhances shareholder oversight of RPTs by listed companies. The rules for companies, which are to come into effect on April 1, have enlarged the scope of transactions that are material for shareholder scrutiny as well as the definition of related parties. Industry argues that such enlargement, going beyond provisions in extant legislation, only adds to their compliance burden. It has asked Sebi for a review.

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