RELATED PARTY TRANSACTIONS: JOURNEY FROM COMPANIES ACT, 1956 AND LISTING AGREEMENT TO COMPANIES ACT, 2013 AND SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015

AUTHOR – AMIT CHAURASIA, COMPANY SECRETARY AT JK LAKSHMI CEMENT LIMITED

BEST CITATION – AMIT CHAURASIA, RELATED PARTY TRANSACTIONS: JOURNEY FROM COMPANIES ACT, 1956 AND LISTING AGREEMENT TO COMPANIES ACT, 2013 AND SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 4 (1) OF 2024, PG. 182-202, APIS – 3920 – 0001 & ISSN – 2583-2344.

ABSTRACT

This Article outline the journey of Indian Corporate Sector with respect to Related Party Transactions (“RPTs”) from the era of Companies Act, 1956 (1 of 1956), hereinafter referred as “Act 1956” and Listing Agreement with the Stock Exchanges to the Companies Act, 2013 (18 of 2013), hereinafter referred as “Act 2013” and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“LODR”) to understand the difference between the repealed legislations and current legislations. This Article also outline in brief the relevant provisions related to RPTs prescribed under the Act 1956 and Listing Agreement with the Stock Exchanges and current Act 2013 and LODR to understand the present law and procedure involved therein. This Article will also help to understand how the provisions relating to RPTs were indirectly present under the Act 1956 and directly through Accounting Standard issued by Institute of Chartered Accountants of India (‘ICAI’) and Listing Agreement with the Stock Exchanges and how the indirect provisions relating to RPTs saw the light of the day in the form of Act 2013 and became more robust under the LODR and new Accounting Standard.