RPT approval process has always been a (extremely) tough one for Audit Committees, Board, Shareholders and also for Auditors to review.

SEBI effort through these Industry Standards is to ensure that there is a minimum set of information available to AC/ Shareholders for all RPTs, additional information for specified RPT and higher level of information for material RPTs.

Slide 6 on NON- APPLICABILITY is important to note as it does scope out most RPT within the Group. If there are external shareholders or promoter direct interest in related party entities, it is only fair that such transactions should pass through the Governance test.

Mandatory for listed companies.

Best regards
M P Vijay Kumar