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Automobile Products Of India informs about non applicability of disclosure of related party transaction

25 Jun 2022 Evaluate

As per Regulation 23(9) SEBI (Listing Obligations and Disclosure Requirements), every listed company shall be required to submit 'disclosures of related party transactions' within 30 days from the date of publication of its financial results for the half year. Pursuant to the SEBI Regulation 15(2) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, Regulation 23(9) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 is not applicable to the Company as the paid up capital and net worth is less than Rs 10 Crore and Rs 25 Crore respectively. Therefore, Automobile Products Of India has informed that the company is not required to submit ‘Disclosure of the Related Party Transaction for the half year and year ended on 31st March, 2022, as per Regulation 23(9) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Further, it is certified that whenever this Regulation becomes applicable to the Company at a later date, the company will comply with the requirements of the same within prescribed time.

The above information is a part of company’s filings submitted to BSE.

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