Sebi Directive: Linde India to Address Compliance in Related Party Transactions

The Securities and Exchange Board of India (Sebi) has instructed Linde India to rectify issues related to transactions with Praxair India and Linde South Asia Services, ensuring market norms compliance. This follows the Securities Appellate Tribunal's directive for a thorough valuation of these transactions due to shareholder complaints.

The Securities and Exchange Board of India (Sebi) has taken action against Linde India, mandating the company to address issues concerning transactions with Praxair India and Linde South Asia Services, thus ensuring compliance with market regulations.

This move comes after the Securities Appellate Tribunal overturned a previous Sebi order, directing the National Stock Exchange (NSE) to appoint a valuer to assess the related party transactions. Shareholder grievances prompted this scrutiny.

Sebi's Ashwani Bhatia criticized Linde India for proceeding with transactions that had been opposed by shareholders, deeming the company's legal maneuvers insufficient. A thorough valuation is now required to determine whether these decisions needed broader approval.