New Delhi, Nov. 4 -- TVS Holdings amended its related-party transaction (RPT) policy less than five months before selling its entire stake in real estate subsidiary TVS Emerald to a promoter-group company, changing the benchmark for determining when property transactions would be classified as material and require shareholder approval.

The policy was revised on August 8, 2024, according to company documents. On December 31, 2024, TVS Holdings sold its entire stake in Emerald to Vee Ess Trading Private Limited for Rs.485.85 crore.

A comparison of the revised policy with its February 2020 version shows that the company replaced the reference to its net worth with consolidated net worth for calculating the materiality threshold applicable ...