April 03, 2023
Summary of the MCA notification, NSE and BSE Circulars and SEBI Circular dated 31/03/2023
These regulatory updates are integrated in our free-to-use website ca2013.com.
Filing of Disclosures in XBRL Mode
Following disclosures under the regulation 30 of the SEBI (LODR) Regulations, 2015 are required to be filed by the listed entity in XBRL format on the NEAPS platform of NSE and BSE Listing Centre within 24 hours of submission of the PDF filing w.e.f. 01/04/2023:
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.
The prescribed agreements 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.
The path for the XBRL submission is provided in the circular.
- Preferential issue
- Qualified institutions placement (QIP)
- Rights issue
- Issue of American Depository Receipts (ADR)
- Issue of Global Depository Receipts (GDR) and
- Issue of Foreign Currency Convertible Bonds (FCCBs)
- Applications obtaining in-principle approval under reg 28(1) of SEBI (LODR) regulations, 2015
- Applications obtaining in-principle listing approval post the allotment of securities.
Click here to view the NSE Circular.
Revision of Annual Listing Fees by the BSE
The Bombay Stock Exchange (BSE) has revised its Annual Listing Fees to be paid by the listed entities for listing its securities on the exchange effective from April 01, 2023. The schedule of the annual listing fees from FY 2023-24 is provided in the circular.
- The requirement to maintain Structured Digital Database (SDD) is applicable to listed entities, intermediaries and fiduciaries who handle UPSI of a listed company.
- Details regarding what constitutes UPSI, mode and period of maintenance of the same in SDD is provided for.
3. Grant of ESOP shall not be considered as trading and hence can be made during the trading window closure period.
- Acquisition of securities by way of Rights Issue, Follow-on Public Offer, Offer for Sale (OFS), Bonus Issue, Share split, Merger/ Amalgamation, Demerger and disposal of securities by way of Buy-back, Open offer, Exit offer, Merger/ Amalgamation would not attract restriction of ‘contra-trade’, provided the initial transaction of acquisition was completed in accordance with the PIT Regulations.
- The restriction on execution of contra-trade shall be applicable to designated persons of the listed company, designated employees of market intermediaries, and other persons who are required to handle UPSI in the course of business transactions.
- The compliance officer of the listed entity may grant relaxation from contra-trade transactions for reasons to be recorded in writing, provided it does not violate the provisions of these regulations.
5. The whole-time director/ managing director of the holding company shall be added as designated person of the subsidiary company.