Policy on dealing with Related Party Transactions

  1. Background
  2. Si Creva Capital Services Private Limited is a private limited company, incorporated under the provisions of the Companies Act, 2013, having Corporate Identification Number (CIN) U65923MH2015PTC266425 (“Si Creva”/“Company”). Si Creva is a Systemically Important Non- Deposit taking Non-Banking Financial Company, bearing Registration no. N-13.02129, registered and regulated by the Master Direction – Non-Banking Financial Company – Systemically Important Non- Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016, as amended from time to time and such other rules, regulations, directions, circulars, notifications and orders issued in this regard from time to time (“RBI Directions”). Non-Banking Financial Companies with Asset size of Rs. 500/- crore and above are required to give additional disclosures in its Balance Sheet and Annual Report as mentioned in paragraph 4.4 of Annex-XIV to the Master Directions.p

    In accordance with the above, the Board of Directors of Si Creva Capital Services Private Limited (herein after referred to as “Company” or “Si Creva”) has approved the policy and its disclosure on dealing with Related Party Transactions on its website and also in the Annual Report at its meeting held on October 22, 2019p

    Si Creva is into the business of provision of consumer and personal loans.p

  3. SCOPE AND INCLUSION
  4. This policy sets definition of related party transactions and dealing with related party transactions.

  5. POLICY
    1. Contracts / arrangements will be treated as Related Party Transaction if the same has been entered with any entity which fulfils the definition of “Related Party” as per Accounting Standard -18 and / or definition given under Section 2(76) of the Companies Act, 2013.
    2. All related party contracts / arrangements shall be entered on arms’ length basis.
    3. In exceptional circumstances, where permitted by law, related party contracts / Arrangements may deviate from the principle of arm’s length, after approval from the Board.
    4. All related party contracts / arrangements shall comply with the Companies Act, 2013.
    5. All related party contract / arrangements shall comply with Accounting Standards.
    6. All domestic related party contracts / arrangements shall, wherever applicable, comply with Domestic Transfer Pricing Requirement under section 92BA of Income Tax Act, 1961 including certification from independent accountants under the Transfer Pricing Regulations.
    7. All international related party contract / arrangements shall comply with International Transfer Pricing Requirement under section 92B of Income Tax Act, 1961 including certification from independent accountants under the Transfer Pricing Regulations.
    8. The Board shall review the transactions entered into with the related party on quarterly basis.