Related party transactions (RPT) are widespread and are part and parcel of every business group activity, particularly in emerging markets. RPT refers to transactions between a company and its related entities such as subsidiaries, associates, joint ventures, substantial shareholders, executives, directors and their relatives, or entities owned or controlled by its executives, directors and their families. RPT between group companies can result in both positive and negative effects for the investor. RPTs may help achieve effective asset utilization as well as reduce transaction cost or diversify risks. At the same time, they have the potential of being used for tunneling in order to expropriate minority shareholders. This research explores the RPT of top Indian companies.