CS Lalit Rajput | Oct 23, 2021 |
The Bombay Stock Exchange (BSE) vide notice no. 20210906-31 dated 06th September, 2021 has issued circular w.r.t. Filing of Related Party Transactions in XBRL mode, in order to help BSE to make the filing process with the Exchange easier, more convenient, and faster.
The Excel Utility for filing the Related Party Transactions Report in the prescribed Format in the XBRL mode has been made available in the XBRL section of the Listing Centre.
The term related-party transaction refers to a deal or arrangement made between two parties who are joined by a preexisting business relationship or common interest. … Although related-party transactions are themselves legal, they may create conflicts of interest or lead to other illegal situations
According to Regulation 23(9) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the listed entities are required to submit, within 30 days from the date of publication of its standalone and consolidated financial results for the half year, disclosures of related party transactions on a consolidated basis.
With a view to making the disclosure more accurate and efficient, the Exchange in consultation with SEBI, is introducing a facility of filing of Related Party Transactions in XBRL mode under Regulation 23 (9) of SEBI (LODR) Regulations, 2015 with immediate effect.
Filings in respect of Related Party Transactions (Regulation 23 (9)) should be filed by all listed companies, in XBRL mode only.
BSE has provided an online real-time Helpdesk to assist Users with their XBRL filings – they may email queries if any to bse.xbrl@bseindia.com or call the Helpdesk on toll free number 1800 233 0445.
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