CIRCULAR
SEBI/HO/CFD/CFD-PoD-2/P/CIR/2025/37 March 21, 2025
To,
All listed entities
All the recognized Stock Exchanges
The Associated Chambers of Commerce and Industry of India (ASSOCHAM)
Federation of Indian Chambers of Commerce and Industry (FICCI)
Confederation of Indian Industry (CII)
Dear Sir/Madam,
Sub: Industry Standards on “Minimum information to be provided for review of the
audit committee and shareholders for approval of a related party transaction”
1. SEBI Circular dated February 14, 2025 (link) (“the Circular”) required listed entities
to follow the Industry Standards on “Minimum information to be provided for review
of the audit committee and shareholders for approval of a related party transaction”
(“Industry Standards”) with effect from April 1, 2025.
2. SEBI has received feedback from various stakeholders requesting extension of
timeline for applicability of the Industry Standards. Accordingly, it has been decided
that the effective date of the Circular shall be July 1, 2025.
3. The Industry Standards Forum (“ISF”) comprising of representatives from three
industry associations, viz. ASSOCHAM, CII and FICCI, which had formulated the
Industry Standards, shall take into consideration the feedback received for
simplification of the Industry Standards and release the same in a time-bound
manner to meet the revised timelines.
4. The Stock Exchanges are advised to bring the contents of this Circular to the notice
of their listed entities.
5. This Circular is issued in exercise of the powers conferred under Section 11(1) and
11A of the Securities and Exchange Board of India Act, 1992 read with regulation
101 of LODR Regulations.
6. This Circular is available on SEBI website at www.sebi.gov.in under the category:
‘Legal → Circulars’.
Yours faithfully,
Raj Kumar Das
Deputy General Manager
Corporation Finance Department
Tel. No.: +91 22 2644 9253
Email id: rajkd@sebi.gov.in
Page 1 of 1