No. PR – 180
December 27, 2021
Related Party Transactions
Analysis of Regulations Including other Recent SEBI Notifications
23rd December 2021 I 4.00 pm onwards
The Corporate Affairs Committee of PHDCCI organized a Webinar on Related Party Transactions – Analysis of Regulations Including other Recent SEBI Notifications on 23rd December 2021 from 4.00 pm onwards
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 panellists, discussed the definition of related party transaction 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 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 about the Interplay of related party transactions between Companies Act and SEBI Listing Regulations. He also highlighted the directors’ liability under the Companies Act.
Mr Sameet Gambhir threw light on Latest Circulars of SEBI on Related Party Transactions. He also discussed the revised definition of related party transaction and the new provisions related to subsidiary companies under Regulation 23.
Ms Ranjana Aggarwal highlighted the role of Audit committee for ascertaining the related party transactions which is 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 Session.
The webinar was also supported by PHDCCI Annual Sponsors such as, Multani Pharmaceuticals Ltd; Star Wire ;P G 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 Interio; 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
PHD Chamber of Commerce and Industry