- Fraud by senior management other than promoters, directors, or key managerial personnel must be disclosed if it relates to the listed entity.
- Corporate actions of the subsidiary of a listed entity and corporate actions received by the listed entity or its subsidiaries are exempted from that definition of RPT.
- The payment of remuneration and sitting fees to directors, key executives, and senior management will not require the audit committee’s approval as per RPT norms.
- Independent directors who are members of audit committees can provide postfacto ratification of RPTs within three months from the transaction or in the immediate next meeting, whichever is earlier.
- Companies should make audio records of postearning or quarterly calls before the next trading day.
- The length of cooling-off period has been increased to five years for secretarial audits.
- The new rules direct listed companies holding ranks from 1,001 to 2,000 to appoint at least one woman independent director.
