Securities And Exchange Board Of India - Subsection
Section 23(1A) in Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
(1A)[ Notwithstanding the above, [with effect from July 01, 2019,] [Inserted by Notification No. SEBI/LAD-NRO/GN/2018/10, dated 9.5.2018 (w.e.f. 2.9.2015).] a transaction involving payments made to a related party with respect to brand usage or royalty shall be considered material if the transaction(s) to be entered into individually or taken together with previous transactions during a financial year, exceed [five] [Substituted 'two' by Notification No. SEBI/LAD-NRO/GN/2019/22, dated 27.6.2019 (w.e.f. 2.9.2015).] percent of the annual consolidated turnover of the listed entity as per the last audited financial statements of the listed entity.]
