Securities And Exchange Board Of India - Subsection
Section 24(4) in Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
(4)The management of the unlisted subsidiary shall periodically bring to the notice of the board of directors of the listed entity, a statement of all significant transactions and arrangements entered into by the unlisted subsidiary.Explanation. - For the purpose of this regulation, the term "significant transaction or arrangement" shall mean any individual transaction or arrangement that exceeds or is likely to exceed ten percent of the total revenues or total expenses or total assets or total liabilities, as the case may be, of the unlisted [***] [Omitted 'material' by Notification No. SEBI/LAD-NRO/GN/2018/10, dated 9.5.2018 (w.e.f. 2.9.2015).] subsidiary for the immediately preceding accounting year.
