Company: WIT
Filing Date: 2025-05-22
Form Type: 20-F
Source: 0000950170-25-076303
Chunk: 142

Company: WIPRO LTD
Filing Date: 2025-05-22
Form: 20-F
Item: Item 10
Chunk 142
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 or dispute shall now be disclosed to the exchanges on application of materiality criteria as specified under Para B of Part A of Schedule III of Listing Regulations.
In February 2025, the Industry Standards Forum (“ISF”), consisting of ASSOCHAM, CII and FICCI, released a note on Regulation 30 of Listing Regulations. This note has brought in certain additional clarifications and guidance on the disclosure requirements to stock exchanges.
Related Party Transactions – SEBI Listing Regulations perspective
Under the SEBI Listing Regulations, Related Party Transactions are covered under various Regulations and Schedules. These are as follows:
•Regulation 2(1)(zb) of the SEBI Listing Regulations– Definition of Related Party
•Regulation 2(1)(zc) of the SEBI Listing Regulations– Definition of Related Party Transactions
•Regulation 23 of the SEBI Listing Regulations read with Schedule V– Provisions of Related Party Transactions.
Regulation 23 of the SEBI Listing Regulations requires every listed entity to formulate a policy on materiality of related party transactions and on dealing with such related party transactions duly approved by the Board. Such policy shall be reviewed by the Board at least once every three years.
Vide its notification dated December 13, 2024, SEBI has amended the provisions of related party transactions. Now the remuneration and sitting fees paid by the listed entity or its subsidiary to its director, KMP or senior management, except he or she is part of a promoter or promoter group, shall not require approval of the audit committee and the transactions related to payment of statutory dues/fees/charges entered into between a listed entity with the government shall be exempted from any prior approval of audit committee or shareholders.
Further, the members of the audit committee may now ratify the related party transactions within 3 months from the date of the transaction or in the immediate next meeting of the audit committee, whichever is earlier, subject to the following conditions:

(i)the value of the ratified transaction(s) with a related party, whether entered into individually or taken together, during a financial year shall not exceed rupees 1 crore.

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(ii)the transaction shall not be material in terms of the provisions of these regulations.
(iii)rationale for inability to seek prior approval for the transaction shall be placed before the audit committee at the time of seeking ratification.
In February 2025, SEBI issued the Industry Standards on minimum information to be provided for approval of related party transactions by the audit committee and