The Bombay Stock Exchange (“BSE”) vide its Circular No: DCS/COMP/28/2016 -17 dated 30 March 2017 has mandated filing of financial results in XBRL mode. Regulation 33 and Regulation 52 of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 requires every listed company to file its quarterly and yearly financial results with the Stock Exchanges within the prescribed timelines.
Accordingly, it has been decided that with effect from 1 April 2017, all entities listed with BSE are required to file the Financial Results in XBRL mode within 24 hours of submission of results in PDF mode. The Financial Results are required to be submitted along with the Limited Review Report / Audit Report in PDF mode through the Listing Centre website – Corporate Announcement Filing System (CAFS) within 30 minutes of the conclusion of the Board Meeting.
The requirement of filing Financial Results in XBRL mode would not apply to Insurance Companies which can continue to make their filings for Financial Results in PDF mode.
Please note that the filing of Financial Results as stated above in other mode would be treated as non-submission and may attract penalties as prescribed by SEBI in the SOP circular dated November 30, 2016.
To read the full text of the circular, click on the below link:
Labels: Company Law Updates