The National Stock Exchange of India (NSE) plays a pivotal role in the country’s financial markets. It ensures that listed entities adhere to regulations and disclosure requirements. In its recent circular, NSE provides important guidance on the filing of Related Party Transactions (RPT) disclosure through the NEAPS portal.
Overview of the Circular:
The circular references Regulation 23(9) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which mandates listed entities to submit disclosures of related party transactions (RPT) every six months. This disclosure should coincide with the publication of standalone and consolidated financial results.
NSE’s Circular Ref. No. NSE/CML/2021/34, dated September 06, 2021, and Circular Ref. No. NSE/CML/2021/42, dated October 19, 2021, introduced the concept of XBRL-based filing of Related Party Transactions for Listed Companies at NSE.
Key Highlights:
- XBRL Filing: Listed entities are now required to submit RPT disclosures exclusively in XBRL format. This XBRL utility for filing RPT disclosures in the prescribed format is available on the NEAPS platform.
- Compliance Requirement: It’s essential to emphasize that the submission of RPT disclosure in XBRL format is the sole method recognized as compliant with Regulation 23(9) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. No other forms of filing, including PDF format, will be considered compliant.
Steps for Compliance:
To ensure compliance with the circular, listed entities should follow these steps:
- Access NEAPS: Visit the NEAPS platform.
- Navigate to Compliance: Find the “Compliance” section.
- Choose XBRL Upload: Select “Common XBRL Upload.”
- File RPT Disclosure: Click on “Related Party Transactions” to file the disclosure.
Conclusion:
The National Stock Exchange of India’s circular (NSE/CML/2023/68) underscores the importance of adhering to regulations governing Related Party Transactions (RPT) disclosure. Listed entities must now submit RPT disclosures exclusively in XBRL format through the NEAPS portal to meet compliance requirements.
It is imperative for all relevant entities to take note of this circular and ensure that they follow the specified XBRL-based filing procedure. This ensures transparency, accuracy, and compliance with SEBI regulations, ultimately fostering trust and confidence in India’s financial markets. In case of any concerns or inquiries regarding the filing process, entities can reach out to NSE through the provided contact details.
The NSE continues to play a crucial role in maintaining the integrity and transparency of India’s stock market, and adherence to such circulars is essential for the smooth functioning of the financial ecosystem.
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National Stock exchange of India
Circular Ref. No.: NSE/CML/2023/68 Date: September 29, 2023
The Company Secretary
All Listed Entities
Subject: Filing of Related Party Transactions disclosure on NEAPS
Portal Dear Sir/ Madam,
This has reference with Regulation 23(9) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 which requires the listed entities to submit disclosure of related party transactions (RPT) every six months on the date of publication of its standalone and consolidated financial results and Exchange Circular number NSE/CML/2021/34 dated September 06, 2021 and Circular Ref. No. NSE/CML/2021/42 dated October 19, 2021, regarding XBRL based filing of Related Party Transactions for Listed Companies at NSE.
The listed entities are requested to submit RPT disclosure only in XBRL form on the following path: Path:- NEAPS > Compliance > Common XBRL Upload > Related Party Transactions
Further, the XBRL utility for filing RPT disclosure in the prescribed format in XBRL form is also available on the abovementioned path.
Please note that submission of RPT disclosure in the XBRL form will only be treated as compliance under Regulation 23(9) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and no other form of filing (including PDF form) will be treated as compliance.
The listed entities are requested to please take note of the above and ensure compliance.
In case of any filing related concerns on the captioned subject, please reach out to the Exchange at [email protected] and contact details given on NEAPS platform.
Yours faithfully,
For National Stock Exchange of India Limited
Nikhil Iyer
Manager
