MANDATORY FILING OF CORPORATE GOVERNANCE REPORT AND SHAREHOLDING PATTERN IN XBRL MODE
In continuation to the notice dated 30th November, 2015 with regards to mandatory filing of information with the Exchange in electronic mode and with a view to making the disclosure more accurate and efficient, the Exchange had introduced facility of XBRL based reporting for filing of following compliances under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015:-
- Corporate Governance (Regulation 27)
- Shareholding Pattern (Regulation 31)
- Financial Results (Regulation 33)
To facilitate the reporting in XBRL format, BSE is providing a free Excel Utility to the companies listed on BSE. Users are required to fill in data in the Excel utility and the system automatically generates XBRL based reports while giving an acknowledgement of successful filing to the User. The XBRL utility being provided by BSE includes several validations to improve the accuracy of filings by the company and to ensure that only the correct information is submitted to the Exchange.
These XBRL filings are to be filed online through the ‘Listing Center’ (https://listing.bseindia.com) portal of the BSE. A new web page ‘XBRL’ has already been made available in the ‘Listing Centre’ portal of BSE to facilitate smooth reporting.
BSE is also offering online real time assistance in the form of a Helpdesk to troubleshoot problems and assist users.
It was observed that in the past two quarters, more than 1900 companies have filed their SHP / Corporate Governance Report using XBRL. Enthused by this response from the companies as also in view of the handholding done by the Exchange for over 8 months since the introduction of XBRL filing, it is now felt that filing of company submissions through this XBRL mode can be taken to the next level.
Accordingly, effective from March 28, 2016, compliance filings in respect of Corporate Governance Report (Regulation 27) and Shareholding Pattern (Regulation 31) are required to be filed mandatorily filed by all listed entities, through XBRL mode only.
Filing of compliances under Regulation 27 and Regulation 31 effected in modes other than XBRL format shall not be considered as submission.
All listed entities are urged to cooperate in this initiative and help us to make the filing process with the Exchange easier, more convenient and faster. Filing of the compliances at least a week prior to the mandated due date would be appreciated.
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