Mumbai, Oct. 16 -- The Securities and Exchange Board of India (SEBI) has issued fresh guidelines on minimum information that listed companies are required to provide to their audit committees and shareholders to get related party transaction (RPT) approval.

Under the new framework, companies must clearly justify why a related party transaction (RPT) serves the best interests of the listed entity. They are required to provide valuation or external reports (if any were relied upon), disclose the percentage of the counterparty's annual turnover represented by the transaction (on a voluntary basis), and furnish any other relevant details necessary for the audit committee's review and approval.

When seeking shareholder approval, the explanat...