Related Party Definition

This discussion clarifies whether foreign companies are included in the definition of related parties. Amendments under CAA 2017, read with IND AS 24, confirm that foreign bodies corporate can be considered related parties for listed entities. However, specific clauses within the definition might not apply to them. The conversation also touches upon transactions with foreign private companies where an individual is a director, questioning the need for shareholder or board approval for non-arm's length deals.