Securities And Exchange Board Of India - Subsection
Section 23(4) in Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
(4)All material related party transactions shall require approval of the shareholders through resolution and [no related party shall vote to approve] [Substituted 'the related parties shall abstain from voting on' by Notification No. SEBI/LAD-NRO/GN/2018/10, dated 9.5.2018 (w.e.f. 2.9.2015).] such resolutions whether the entity is a related party to the particular transaction or not.[Provided that the requirements specified under this sub-regulation shall not apply in respect of a resolution plan approved under section 31 of the Insolvency Code, subject to the event being disclosed to the recognized stock exchanges within one day of the resolution plan being approved;] [Inserted by Notification No. SEBI/LAD-NRO/GN/2018/21, dated 31.5.2018 (w.e.f. 2.9.2015).]
