Related Party Transactions Policy
As a general rule, the university shall avoid Related Party Transactions (RPT). In instances where RPTs cannot be avoided, the university shall disclose all relevant information on the same.
The university and its subsidiaries shall enter into any related party transactions solely in the ordinary course of business, on ordinary commercial terms and on the basis of arm’s length arrangements, and subject to appropriate corporate approvals and actions of the university or the related parties, as the case may be. Any related party transactions entered into by the university or its affiliates shall be in accordance with applicable laws, rules and regulations.
Dealings falling under the category of RPTs should be approved by the Board of Trustees.
Sanctions
Violators shall be subject to disciplinary action without prejudice to any civil or criminal proceedings that the corporation or regulators may file for violation of existing laws.
