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SEBI Notifications in Related Party Transactions Analysis of Regulations Webinar

Webinar on Related Party Transactions Analysis of Regulations Including other Recent SEBI Notifications

by Prittle Prattle Team
Webinar on Related Party Transactions Analysis of Regulations Including other Recent SEBI Notifications

The Corporate Affairs Committee of PHDCCI organized a Webinar on Related Party Transactions – Analysis of Regulations Including other Recent SEBI Notifications

The Webinar was graced with the presence of Mr. Pradeep Multani, President, PHDCCI; Mr. Sumant Chadha, Chair, Corporate Affairs Committee; Mrs. Ranjana Agarwal; Mr. P K Rustagi and Mr. Sanjay Khanna, Co-Chairs, Corporate Affairs Committee; Mr. Vivek Seigell, Asst Secretary-General, PHDCCI. Other eminent speakers were Dr. K S Ravichandran, Managing Partner, KSR & Co LLP; Mr. Sameet Gambhir, Vice President (Corp Law) & Co. Secy, DCM Shriram Ltd and Mr. Saurav Kumar, Partner, IndusLaw.

Mr. Pradeep Multani, while welcoming the panelists, discussed the definition of related party transactions and said that related party disclosures are a critical component of a company’s financial statements. He also highlighted that capital markets regulator – SEBI has come out with disclosure requirements to be placed by listed entities.

Mr. Sumant Chadha highlighted that related-party transactions can include sales, leases, service agreements, and loan agreements which are not necessarily illegal.

Mr. P K Rustagi said in his theme address that there have been innumerable rules and regulations for governing the related party transactions both under the Companies Act 2013 and also by SEBI. SEBI has an independent set of regulations to govern such transactions which are very stringent. SEBI has also widened the definition of Related Party Transactions.

Dr. K S Ravichandran discussed the Menace of Meddling with Governance through Related Party Transactions. He also highlighted the role of governance structure relating to RPTs, which is a 15 point structure.

Mr. Saurav Kumar discussed the Interplay of related party transactions between the Companies Act and SEBI Listing Regulations. He also highlighted the directors’ liability under the Companies Act.

Mr. Sameet Gambhir threw light on the Latest Circulars of SEBI on Related Party Transactions. He also discussed the revised definition of related party transactions and the new provisions related to subsidiary companies under Regulation 23.

Ms. Ranjana Aggarwal highlighted the role of the Audit Committee for ascertaining the related party transactions which are important for good corporate governance.

Mr. Sanjay Khanna summed up the Session and also delivered the vote of thanks to speakers, sponsors, and delegates.

Mr. Vivek Seigell moderated the webinar which was well attended by more than 160 delegates with intensive Q and A Sessions.

The webinar was also supported by PHDCCI Annual Sponsors such as Multani Pharmaceuticals Ltd; Star Wire; PG Industry; Uflex Ltd; DLF Ltd; Continental Carriers Pvt Ltd; Belair Travel & Cargo Pvt Ltd; Radico Khaitan Ltd; Crystal Crop Protection Ltd; Paramount Communications; Superior Industries Ltd; JK Tyre & Industries Ltd; Comtech Interior; R E Rogers; AYUSH Herbs Private Ltd; Apeejay Stya Group; DCM Shriram; EaseMyTrip; Blossom Kochhar Beauty Products Pvt Ltd; MV Cotspin Ltd; Synergy Environics Ltd; Ajit Industries Pvt Ltd; P S BEDI & Co.; Indian Farmer & Fertilizers Corporation Ltd; Jindal Steel; Hindware Sanitary; Modern Automobiles; Livit Ltd.; Axa Parenteras Pvt. Ltd.; Bhagwati Plastic and Pipes Industries.
Origin
The Securities and Exchange Board of India (SEBI) was founded in 1988 as a non-statutory agency to regulate the Indian securities market. It became an autonomous organization on January 30, 1992, and was given legislative powers by the Indian Parliament with the passage of the SEBI Act 1992. SEBI’s headquarters are at Mumbai’s Bandra Kurla Complex, and it has Northern, Eastern, Southern, and Western Regional Offices in New Delhi, Kolkata, Chennai, and Ahmedabad. In the fiscal year 2013–2014, it established local offices in Jaipur and Bangalore, as well as Guwahati, Bhubaneshwar, Patna, Kochi, and Chandigarh.
Prior to the establishment of SEBI, the regulatory body was the Controller of Capital Issues, whose jurisdiction was drawn from the Capital Issues (Control) Act of 1947.
This article was shared to Prittle Prattle News as a Press Release.

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