The National Stock Exchange of India (NSE) is proposing a significant move from Portable Document Format (PDF) to eXtensible Business Reporting Language (XBRL) for corporate filings. The new format is designed to streamline the filing process and ease the compliance burden on listed entities.
XBRL is an open international standard for digital business reporting, managed by a global not-for-profit consortium, XBRL International. XBRL is used around the world, in more than 50 countries. Millions of XBRL documents are created every year, replacing older, paper-based reports with more useful, effective and accurate digital versions.
The NSE has communicated this proposal to all listed entities, seeking comments and feedback on this transition for announcements related to “Loss of Share Certificate/ Issue of Duplicate Share Certificate” and “Closure of Trading Window”.
The goal is to implement a standardized structure for these filings, which would not only simplify compliance but also allow for more effective data analysis. This change falls under the mandate of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI LODR), and SEBI (Prohibition of Insider Trading) Regulations, 2015 (SEBI PIT).
The NSE’s move towards digitization aligns with a global trend in financial markets. This transition is expected to significantly reduce manual work, enhance data accuracy, and ensure easier data access for regulators and investors.
National Stock Exchange of India
Department: Listing
Circular Ref No: NSE/CML/2023/40 Date: June 14, 2023
The Company Secretary
All Listed Entities
Subject: Seeking of comments / feedback on the XBRL being introduced for submission of Announcements pertaining to Loss of Share Certificate/ Issue of Duplicate Share Certificate and Closure of Trading Window
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 for
- Loss of Share Certificate/ Issue of Duplicate Share Certificate
- Closure of Trading Window
as required under the provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI LODR) and/ or SEBI (Prohibition of Insider Trading) Regulations, 2015 (SEBI PIT), as amended from time to time and such applicable laws.
2. BACKGROUND:
Listed entities are required to file the disclosures with the Stock Exchange(s) within prescribed timelines as laid down in SEBI LODR and/or SEBI PIT 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 LODR and/or any other disclosure w.r.t. compliance of any SEBI Act, Regulation, Circular or provision from PDF to XBRL. 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 announcement pertaining to the aforementioned subjects, would require listed entities to file the same in XBRL exclusively, formats of which are made available as Annexure.
3. ISSUES AND DELIBERATIONS:
Please note that the details required are typically descriptive in nature and based on the SEBI LODR and/ or SEBI PIT Regulations or any other disclosure w.r.t. compliance of any SEBI Act, Regulation, Circular or provision. 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 [email protected] in the following format:
| Name of entity / person:
Contact Number & Email Address: |
||||
| Sr. No | Event:
1. Loss of Share Certificate/ Issue of Duplicate Share Certificate 2. Closure of Trading Window |
Subject/Heading/ Field | Comments/ Suggestions | Detailed Rationale |
While sending email, kindly mention the subject as “Comments / Feedback on the XBRL being introduced for Loss of Share Certificate/ Issue of Duplicate Share Certificate and Closure of Trading Window”
The comments may be sent by email to [email protected] latest by June 20, 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 Loss of Share Certificate/ Issue of Duplicate Share Certificate and Closure of Trading Window
ANNEXURE
1. LOSS OF SHARE CERTIFICATE/ ISSUE OF DUPLICATE SHARE CERTIFICATES
| LOSS OF SHARE CERTIFICATE/ ISSUE OF DUPLICATE SHARE CERTIFICATES | |
| PARTICULARS | SUB-PARTICULARS |
| General Information | |
| NSE Symbol | |
| Name of the Company | |
| BSE Scrip Code | |
| MSE Symbol | |
| ISIN | |
| Type of Announcement | 1.New
2.Revision |
| Type of Event | 1.Loss of share certificates
2.Issue of duplicate share certificates 3.Others |
| If Others, specify the type of Event | |
| Date of original announcement | |
| Remarks (website dissemination) | |
| Remarks for Exchange (not for Website Dissemination) | |
| Date of Report | |
–
| Loss of share certificate | |
| Number of shareholders for whom intimation regarding loss of share certificate has been received | 1.Add row
2.Delete row |
–
Sr. no. |
Date of receipt ofintimation/information of loss of share certificate |
Name of shareholder(s) (including Joint holders) |
Folio Number |
Number of shares |
Certificate
|
Distinctive
|
Whether multiple entries is to be created for a single shareholder |
Number of entries to be created for a particular shareholder |
|||
From |
To |
From |
To |
||||||||
–
| Name of Registrar and Transfer Agent (RTA) of the Company | |
| If Others, specify the name of the RTA | |
| Whether the Company has complied with the
Rule 19(3) of Securities Contract |
|
| If no, specify the reason | |
| Whether the Company has complied with the Regulation 39(2) of SEBI LODR for the timelines of 30 days from the date of lodgement | |
| If no, specify the reason | |
| Whether the Company has complied with the
procedural requirements specified in |
|
| If no, specify the reason | |
| Any other disclosure w.r.t. compliance of any SEBI Act, Regulation, Circular or provision | |
| Any other information | |
| Remarks (website dissemination) |
–
|
Remarks for exchange (not for website dissemination) |
|
| Issue of duplicate share certificate | 1. Add row
2.Delete row |
–
Sr. no. |
Date of receipt of information for issue of duplicate share certificate |
Name of shareholder(s) (including Joint holders) |
Folio Number |
Number of Shares |
OldCertificate
|
New
|
Distinctive Number |
Reason for issue of duplicate share certificate |
Whether multiple entries is to be created for a single shareholder |
Number of entries to be created for a particular shareholder |
|||
From |
To |
From |
To |
From |
To | ||||||||
–
| Name of Registrar and Transfer Agent of the Company | |
| If Others, specify the name of the RTA | |
| Whether the Company has complied with the Rule 19(3) of Securities Contract (Regulations) Rules, 1957 for the loss of share certificates | |
| If no, specify the reason | |
| Whether the Company has complied with the Regulation 39(2) of SEBI LODR for the timelines of 30 days from the date of lodgement | |
| If no, specify the reason | |
| Whether the Company has complied with the procedural requirements specified in Schedule VI of SEBI LODR | |
| If no, specify the reason | |
| Any other disclosure w.r.t. compliance of any SEBI Act, Regulation, Circular or provision | |
| Any other information | |
| Remarks (website dissemination) | |
| Remarks for exchange (not for website dissemination) |
2. CLOSURE OF TRADING WINDOW
| CLOSURE OF TRADING WINDOW | |
| PARTICULARS | SUB-PARTICULARS |
| NSE Symbol | |
| Name of the Company | |
| BSE Scrip Code | |
| MSE Symbol | |
| ISIN | |
| Type of Announcement | 1.New
2.Revision |
| Type of Event | Closure of Trading Window |
| Date of original announcement | |
| Trading Window Start date | |
| Trading Window End date | |
| Details for Trading Window End date | |
| Purpose of the Closure of Trading Window | |
| Any other disclosure w.r.t. compliance of any SEBI Act, Regulation, Circular or provision | |
| Any other information | |
| Remarks (website dissemination) | |
| Remarks for Exchange (not for Website Dissemination) | |
| Date of Report | |
