National Stock Exchange of India
Circular Ref No: NSE/CML/2023/06 Date: January 11, 2023
The Company Secretary
All Listed Companies
Subject: Seeking of comments / feedback on the XBRL being introduced for submission of Announcements pertaining to Corporate Debt Restructuring
1. OBJECTIVE:
The objective of this document is to seek comments / feedback on the proposal to migrate from Portable Document Format (PDF) to eXtensible Business Reporting Language (XBRL) format for submitting corporate announcements pertaining to Corporate Debt Restructuring as required under the provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR) read along with SEBI Circular dated September 09, 2015, as amended from time to time and such applicable laws.
2. BACKGROUND:
Listed entities are required to submit periodical compliance filings to Stock Exchange(s) within prescribed timelines as laid down in SEBI Listing Regulations and accordingly it was mandated to report XBRL based filings for financials from year 2015 onwards.
Over the period, Stock Exchanges in phased manner has been aiming to convert filings made under SEBI Regulations from PDF to XBRL. Listed entities file various disclosures under Regulation 30 of LODR with such details as are sought under the applicable Regulations/Circulars. With an objective to standardise securities market data it was deliberated that XBRL would be implemented for all corporate filings.
Accordingly, Stock Exchanges have implemented XBRL based compliance filing mechanism featuring identical and homogenous compliance data structures which will not only ease the compliance burden on listed entities but also will enable analysis on the data submitted by the listed entities.
Hence, in this regard filing of announcements pertaining to Corporate Debt Restructuring would require listed entities to file the same in XBRL exclusively, formats of which are made available in para 4 here in below.
3. ISSUES AND DELIBERATIONS:
Please note that the details required are typically descriptive in nature and based on the LODR Regulations and the applicable SEBI Circulars. Accordingly, listed entities can provide their comments/feedback/suggestions/observations pertaining to any additions/modifications in the fields of the attached format.
4. COMMENTS FROM LISTED ENTITIES
Considering the implications of the XBRL filing by listed entities, comments in respect of the subject are solicited. Comments may be sent by email to DL-Announcement@nse.co.in in the following format:
| Name of entity /person: Contact Number & Email Address: | ||||
| Sr. No | Event: Corporate Debt Restructuring | Subject/Heading/Field | Comments/ Suggestions | Detailed Rationale |
While sending email, kindly mention the subject as “Comments / Feedback on the XBRL being introduced for Corporate Debt Restructuring”
The comments may be sent by email to DL-Announcement@nse.co.in latest by January 13, 2023. Enclosed is the draft format for the XBRL being introduced.
Yours faithfully,
For National Stock Exchange of India Limited
Dhaval Shah Manager – Listing
Encl: Draft Format for XBRL being introduced for Corporate Debt Restructuring.
|
CORPORATE DEBT RESTRUCTURING |
|
| PARTICULARS | SUB-PARTICULARS |
| General Information | |
| NSE Symbol | |
| Name of the Company | |
| BSE Scrip Code | |
| MSE Symbol | |
| ISIN | |
| Stage of Disclosure | 1. Initial
2. Update |
| Type of Disclosure | 1. New
2. Revision |
| Date of initial announcement | |
| Date of latest announcement | |
| Remarks (website dissemination) | |
| Remarks for Exchange (not for Website Dissemination) | |
| Date of Report | |
| Corporate Debt Restructuring Details- Initial | |
| Whether the Corporate debt restructuring is Voluntary or Referred by Lenders/Creditors | 1. Voluntary 2. Referred by Lenders/Creditors |
| Date of Board Meeting in which CDR was approved | |
| Reasons for opting CDR | |
| Details of Lenders/Creditors referring Corporate Debt Restructuring of the Company | |
| Details of the Loan to be subjected to Corporate Debt Restructuring | |
| Brief details of the Corporate Debt Restructuring proposal (if any) | |
| Corporate Debt Restructuring Details- Update | |
| Stage of the implementation of the CDR scheme | 1. Execution 2. Others |
| Execution of the CDR Scheme | |
| Date of execution of the agreement | |
| Parties to the agreement | |
| Principal terms of the agreement | |
| Brief summary of the agreement executed under Corporate Debt Restructuring Scheme | |
| Others | |
| Details of final CDR package as approved by RBI and the lenders | |
| Details of Lenders involved in Corporate Debt Restructuring | |
| Brief summary of the Corporate Debt Restructuring Scheme | |
| Details of the securities involved in Corporate Debt Restructuring | |
| Details of the interest payment and/or repayment schedule | |
| Details of the negative and other restrictive covenants | |
| Any other disclosure w.r.t. compliance of any SEBI Act, Regulation, Circular or provision | |
| Any other information | |
| Remarks (for Website dissemination) | |
| Remarks for Exchange (not for website dissemination) | |
