
Introduction
As per the provisions of Regulation 2(1)(zc) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, a Related Party transaction means transfer of resources, services or obligations between a listed entity and a related party (as defined under the provisions of Section 2 (76) of The Companies Act, 2013) regardless of whether a price is charged and a “transaction” with a related party shall be construed to include a single transaction or a group of transactions in a contract.
Scope of Compliance:
As per Regulation 23(9) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Listed Companies shall have to submit within 30 days from the date of publication of its standalone and consolidated financial results for the half year, disclosures of related party transactions on a consolidated basis to the Stock Exchange.
Compliance in XBRL mode:
With a view to make the above disclosure more accurate and efficient, the National Stock Exchange, in consultation with SEBI, on 06th September, 2021 introduced a facility of filing of Related Party Transactions in XBRL mode under Regulation 23 (9) of SEBI (LODR) Regulations, 2015, with immediate effect.
It may be noted that, filings in respect of Related Party Transactions (Regulation 23 (9)) should be filed by all listed companies, in XBRL mode only.
How to comply with the same?
- The Companies which are listed on NSE can generate and upload the same on NEAPS portal and;
- For BSE and MSEI the Excel Utility for filing the Related Party Transactions Report in the prescribed Format in the XBRL mode has been made available in XBRL section of the Listing CentreCompliance on NEAPS portal of NSE:
The NSE Circular Ref. No: NSE/CML/2021/34 is attached.