Introduction: The Bombay Stock Exchange (BSE) issues Notice No. 20231208-34 dated December 08, 2023, bringing crucial updates for all listed companies. The circular pertains to the mandatory filing of announcements in XBRL format on the BSE listing center. This article delves into the specifics of the circular and its implications for listed entities.
Detailed Analysis:
1. Scope of Announcements: The circular highlights three key announcements that must be filed in XBRL format: Loss of Share Certificate/Issue of Duplicate Share Certificate, Closure of Trading Window, and Corporate Insolvency Resolution Process (CIRP).
2. Transition Period: Initially, PDF filings will be accepted as compliance under Regulation 30 of the SEBI LODR. However, entities must also submit XBRL filings within 24 hours of the PDF submission. A later shift to exclusive XBRL submissions will occur, with the effective date being December 09, 2023.
3. XBRL Utility: BSE emphasizes the availability of the XBRL utility for the specified subjects in the XBRL section of the Listing Centre. This move aims to streamline the reporting process and enhance transparency in compliance.
4. Helpdesk Assistance: To assist users with XBRL filings, BSE has established an online real-time Helpdesk. Users can direct queries to [email protected] or call the toll-free number 9316749660. This proactive approach ensures a smoother transition for companies navigating the XBRL filing requirements.
Conclusion: In conclusion, BSE’s latest circular signifies a pivotal shift towards XBRL filings for critical announcements. Listed entities must adapt to the changing regulatory landscape to ensure seamless compliance. The provided contact details for the XBRL Helpdesk underscore BSE’s commitment to supporting companies through this transition. As the effective date approaches, it is imperative for companies to familiarize themselves with the XBRL utility and proactively address any queries or concerns through the established channels. Stay informed, stay compliant.
Bombay Stock Exchange Ltd.
Notice No. 20231208-34
Notice Date 08 Dec 2023
Category: Circulars Listed Companies
Segment: General
To,
The Company Secretary/ Compliance Officer,
All Listed Companies
Sub: Filing of Announcements pertaining to Loss of Share Certificate/Issue of Duplicate Share Certificate/Closure of Trading Window and Corporate Insolvency Resolution Process (‘CIRP’) in XBRL format on BSE listing centre
Further to the various Exchange circulars (Circular Ref No:20230516-36 dated May 16, 2023, Circular Ref No: 20230331-87 dated March 31, 2023, Circular Ref No: 20230127-37 dated January 27, 2023) issued for filing of equity announcement in XBRL mode. kindly note the facility for filings disclosures intimating the following announcements under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘SEBI LODR’) will be made available in XBRL format with effect from December 09, 2023 (‘effective date’)
Loss of Share Certificate/Issue of Duplicate Share Certificate
Closure of Trading Window
Corporate Insolvency Resolution Process
At the initial stage, the PDF filings will be considered by the Exchange as compliance under Regulation 30 of the SEBI LODR. Further, all listed entities would be required to also submit the filings in XBRL mode within 24 hours of submission of the said PDF filing. At a later stage (date to be informed separately) Exchange will shift to only XBRL submission.
It may be noted that, XBRL utility for the above-mentioned subjects is available in XBRL section of the Listing Centre.
BSE has provided an online real-time Helpdesk to assist Users with their XBRL filings they may email queries if any to [email protected] or call the Helpdesk on toll free number 9316749660.
Ashok kumar Singh
DGM-Listing Compliance
Harshad Naik
Deputy Manager-Listing Compliance
