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Related Party Related Party

Related Party - PowerPoint Presentation

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Uploaded On 2016-07-01

Related Party - PPT Presentation

Transactions The Companies Act 2013 B Murli Senior Vice President Legal amp Company Secretary Nestlé India Limited 12 th September 2013 1 FICCI ICSI Conference on the Companies Act 2013 A ID: 385460

companies amp related 2013 amp companies 2013 related party act relatives draft rules directors holding subsidiary business associates rpts

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Presentation Transcript

Slide1

Related Party

TransactionsThe Companies Act 2013

B. Murli Senior Vice President - Legal & Company SecretaryNestlé India Limited12th September 2013

1

FICCI - ICSI Conference

on the Companies Act 2013 A

New Law for a New EraSlide2

2Slide3

3

Broad definition of Related Party

New Definition The Companies Act 2013

KMP & Relatives

Fellow

Subsidiaries & Associate Companies

Draft Rules

Directors, KMP& Relatives :

Holding/Subsidiary/Associates

Senior Management :

Company/Holding/Subsidiary/AssociatesSlide4

4

4

Approvals

Normal course of business not on Arm’s length basis

Audit Committee

Approval/modification of transactions

Board of Directors

Ordinary

course of

business

Arm’s

length basis

Shareholders (Not interested

)

Prior special resolution if paid-up share capital or transactions above threshold notifiedSlide5

5

Preparedness

Best Practices

for ‘proposed’ RPTs

Proactive Approach

Independent

professional

certification

&

support documentations

Knowledge BuildingSlide6

6

Draft RulesMateriality test

for RPTs Extent of Deemed Related Party

Your viewsSlide7

7

Thank you