Bombay Stock Exchange (‘BSE’) and National Stock Exchange (‘NSE’) [‘Stock Exchanges’] had vide their circulars dt: dated January 27, 2023 advised listed entities to submit disclosures under Reg. 29 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 SEBI (LODR) i.e. prior intimations to stock exchanges and certain Reg 30 disclosures in XBRL form.
Now Stock Exchanges have vide their circular dt: March 31, 2023 have asked listed entities to submit following corporate announcements required to be filed under SEBI LODR in XBRL format with effect from April 01, 2023: (‘effective date’):
Disclosure under Regulation 30 of SEBI LODR:
- Issuance or forfeiture of securities, split or consolidation of shares, buyback of securities, any restriction on transferability of securities or alteration in terms or structure of existing securities including forfeiture, reissue of forfeited securities, alteration of calls, redemption of securities etc.
- Agreements (viz. shareholder agreement(s), joint venture agreement(s), family settlement agreement(s) (to the extent that it impacts management and control of the listed entity), agreement(s)/treaty(ies)/contract(s) with media companies) which are binding and not in normal course of business, revision(s) or amendment(s) and termination(s) thereof.
- Fraud/defaults by promoter or key managerial personnel or by listed entity or arrest of key managerial personnel or promoter.
- One-time settlement with a bank
- Resolution plan/ Restructuring in relation to loans/borrowings from banks/financial institutions (Inter-Creditors Agreement).
- Corporate Debt Restructuring.
- Notices of Shareholders Meeting
Stock Exchanges have further guided that 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.
Effective date of this circular is April 1, 2023
BSE and NSE Circular link:
https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20230331-87
Click here to Download PDF
Disclaimer: This article provides general information existing at the time of preparation and we take no responsibility to update it with the subsequent changes in the law. The article is intended as a news update and Affluence Advisory neither assumes nor accepts any responsibility for any loss arising to any person acting or refraining from acting as a result of any material contained in this article. It is recommended that professional advice be taken based on specific facts and circumstances. This article does not substitute the need to refer to the original pronouncement
