Related Party Transactions Policy
This policy is formed as a part of Corporate Governance Framework as per requirement of Reg. 23 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 entered by the Company with the Stock exchanges in India and also in terms of Section 188 of the Companies Act, 2013 and the rules made there under.
The purpose of the policy is as follows:
- To regulate transactions between the Company and its Related Parties with a view to ensure that such transactions are executed on an arm’s length basis and in a transparent and fair manner.
- To seek necessary approvals of the AC/Board/shareholders as may be necessary, after providing necessary information to them in the prescribed manner.
- To outline the procedures for identification, review, approval, disclosure and reporting of such transactions.
This Policy shall supplement the Company’s other policies in force that may be applicable to or involve transactions with Related Parties.