The Company Secretary
All Listed Companies
Subject: Comments / feedback on the XBRL being introduced for submission of Announcements pertaining to Acquisition, Amalgamation, Merger/De-merger, Sale or disposal of unit, Other Restructuring
1. OBJECTIVE:
The objective of this document is to seek comments / feedback on the proposal to migrate from Portable Document Format (PDF) to etensible Business Reporting Language (XBRL) format for submitting corporate announcements for Acquisition, Amalgamation, Merger/De-merger, Sale or disposal of unit, Other Restructuring as required the provisions of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR) read along with SEBI Circular dated September 09, 2015 as amended from time to time and such applicable laws.
2. BACKGROUND:
Listed entities are required to submit periodical compliance filings to Stock Exchange(s) within prescribed timelines as laid down in SEBI Listing Regulations and accordingly, were mandated to report XBRL based filings for financials from year 2015 onwards.
Over the period, Stock Exchanges in phased manner has been aiming to convert filings made under SEBI Regulations from PDF to XBRL. Listed entities file various disclosures under Regulation 30 of LODR with such details as are sought under the applicable Regulations/Circulars. With an objective to standardize securities market data it was deliberated that XBRL would be implemented for all corporate filings.
Accordingly, Stock Exchanges have implemented XBRL based compliance filing mechanism featuring identical and homogenous compliance data structures which will not only ease the compliance burden on listed entities but also will enable analysis on the data submitted by the listed entities.
Hence in this regard, filing of disclosures pertaining to Acquisition Amalgamation, Merger/De-merger, Sale or disposal of unit, Other Restructuring, would require listed entities to file the same in XBRL exclusively, formats of which are made available in para 4 hereinbelow.
3. ISSUES AND DELIBERATIONS:
Please note that the details required are typically descriptive in nature and based on the LODR provisions and applicable SEBI Circular. Accordingly, listed entities can provide their comments/feedback/suggestions/observations pertaining to any additions/modifications in the fields.
4. COMMENTS FROM LISTED ENTITIES
Considering the implications of the XBRL filing by listed entities, comments in respect of the subject are solicited. Comments may be sent by email to Listcomp.monitoring@bseindia.com in the following format:
|
Name of entity / person:
Contact Number & Email Address:
|
|
|
|
Sr. No
|
Event
(Acquisition Amalgamation, Merger/De-merger, Sale or disposal of unit, Other Restructuring)
|
Subject/
Heading/Field
|
Comments/
Suggestion
|
Detailed Rationale
|
|
|
|
|
|
|
|
|
|
|
|
|
While sending email, kindly mention the subject as “Comments / Feedback on the XBRL being introduced for submission of Announcements pertaining Acquisition Amalgamation, Merger/De-merger, Sale or disposal of unit, Other Restructuring”
The comments may be sent by email to Listcomp.monitoring@bseindia.com latest by October 25, 2022.
Enclosed is the format of XBRL related to Acquisition, Amalgamation, Merger/De-merger, Sale or disposal of unit, Other Restructuring.
|
Ashok Kumar Singh
DGM-Listing Compliance
|
|
Shyam Bhagirath
Manager-Listing Compliance
|
|