Recent Circulars issued by BSE & NSE provides essential guidance on filing announcements through the BSE listing center and NSE Electronic Application Processing System (NEAPS) platform. These Circulars highlights the amendments introduced by SEBI (Listing Obligation and Disclosure Requirement) Regulations 2023, emphasizing the importance of transparent and timely disclosure of material events by listed entities.
SEBI’s recent amendments aim to enhance transparency and ensure prompt disclosure of crucial information by listed entities. The circulars issued by BSE and NSE provide detailed guidance on fulfilling the disclosure requirements under Regulation 30 and 30A of SEBI LODR. The key points highlighted include filing PDF disclosures, mentioning the date and time of occurrence, and specifying the subject of the event. Delayed submissions should also include a clear reason for the delay. The article emphasizes the need for listed entities to adhere to these disclosure requirements to maintain compliance and transparency.
BSE
NOTICES
| Notice No. | Notice Date | Category | Segment |
|---|---|---|---|
| 20230714-34 | 14 Jul 2023 | Circulars Listed Companies | General |
Subject: Guidance on filing Announcements through BSE listing centre pursuant to the SEBI (Listing Obligation and Disclosure Requirement) (Second Amendment) Regulations, 2023 (“Amended Regulations”)
The Company Secretary
All Listed Entities
SEBI vide its Notification No. SEBI/LAD-NRO/GN/2023/131 dated June 14, 2023 further amended the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘SEBI LODR’). The Amended Regulations provides for various amendments and additions in the existing disclosure requirements.
In order to bring more transparency and ensure timely disclosure of material events / information by listed entities, SEBI vide its Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023 (‘Circular’) has provided further guidance w.r.t the disclosure requirements under Regulation 30 and 30A of SEBI LODR.
In view of the above, all listed entities are required to take note of the below key points while filing the disclosure of events/information under Regulation 30 of SEBI LODR:
(i) In case of any event emanating from a decision taken in a meeting of board of directors, the listed entities shall:
(a) In case the prior intimation is not required (under necessary provisions) for said meeting of Board of Directors, Company is required to:
file the disclosure in the PDF form “General Announcement/ General Updates” > and mention subject as “Outcome of Board Meeting”
(b) Mention the Start & End time of the Meeting of the Board of Directors
(c) Modify the Announcement Text accordingly specifying the subject of event
(ii) The listed entities shall mandatorily mention the Date & Time of occurrence of the event/information in all the PDF disclosures filed with the Exchange under Regulation 30.
(iii) In case of any delayed submission, the listed entity shall ensure that the PDF disclosure filed specifies the reason of delay.
The listed entities are requested to take note of the aforementioned disclosure requirements and exercise abundant precaution while filing the disclosure/announcement under Regulation 30 of SEBI LODR.
Ashok kumar Singh
DGM- Listing Compliance
Shyam Bhagirath
Manager-Listing Compliance
*******
National Stock Exchange of India
Circular
Department: Listing
Circular Ref No: NSE/CML/2023/57
Date: July 14, 2023
The Company Secretary
All Listed Entities
Subject: Guidance on filing Announcements on NSE Electronic Application Processing System (NEAPS) platform pursuant to the SEBI (Listing Obligation and Disclosure Requirement) (Second Amendment) Regulations, 2023 (“Amended Regulations”)
SEBI vide its Notification No. SEBI/LAD-NRO/GN/2023/131 dated June 14, 2023 further amended the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘SEBI LODR’). The Amended Regulations provides for various amendments and additions in the existing disclosure requirements.
In order to bring more transparency and ensure timely disclosure of material events / information by listed entities, SEBI vide its Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023 (‘Circular’) has provided further guidance w.r.t the disclosure requirements under Regulation 30 and 30A of SEBI LODR.
In view of the above, all listed entities are required to take note of the below key points while filing the disclosure of events/information under Regulation 30 of SEBI LODR:
(i) In case of any event emanating from a decision taken in a meeting of board of directors, the listed entities shall:
(a) At first file the disclosure in the PDF form under the subject “Outcome of Board Meeting” and shall select “Others” in the Type field in case the event is not mentioned under the existing drop-down options.
(2) Mention the Start & End time of the Meeting of the Board of Directors
(3) Modify the Announcement Text accordingly specifying the subject of event.
(ii) The listed entities shall mandatorily mention the Date & Time of occurrence of the event/information in all the PDF disclosures filed with the Exchange under Regulation 30.
(iii) In case of any delayed submission, the listed entity shall ensure that the PDF disclosure filed specifies the reason of delay.
The listed entities are requested to take note of the aforementioned disclosure requirements and exercise abundant precaution while filing the disclosure/announcement under Regulation 30 of SEBI LODR.
Yours faithfully,
For National Stock Exchange of India Limited
Pooja Kothari
Manager-Listing Compliance
