In order to facilitate informed decision making, SEBI has, by way of a Circular dated February 14, 2025, read with the ‘Industry Standards on ‘Minimum information to be provided for Review of the Audit Committee and Shareholders for Approval of Related Party Transaction (‘RPTs’) (‘Industry Standards’) prescribed minimum information and standardised formats for disclosure of details of RPTs for review and approval of audit committees and shareholders of listed entities, where required.

The Industry Standards has been formulated by the Industry Standards Forum (‘ISF’) comprising of ASSOCHAM, CII and FICCI, under the aegis of stock exchanges, and in consultation with SEBI. The Industry Standards prescribe three levels of disclosure requirements, i.e.,: (i) comprehensive disclosures; (ii) limited disclosures; and (iii) minimum disclosures, based on the materiality of RPTs (to be determined per the criteria prescribed under the Industry Standards).

Additionally, by way of a Circular dated March 21, 2025, SEBI has extended the timelines for complying with the disclosure requirements under the Industry Standards from April 1, 2025, until July 1, 2025, with a direction to ISF to further simplify the Industry Standards based on feedback received on the same.