Any person holding more than 10% or more equity shares will be deemed as related party w.e.f. April 1, 2023
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NOTIFICATION NO. SEBI/LAD-NRO/GN/2021/55, Dated 09.11.2021
The SEBI has amended the Listing Obligations and Disclosure Requirements Regulations, 2015 whereby the scope and definition of related party has been extended. The amendment states that any person or any entity, holding equity shares of twenty per cent or more; or of ten per cent or more, with effect from April 1, 2023; in the listed entity at any time, during the immediate preceding financial year; shall be deemed to be a related party.
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