BSE has issued a directive on the filing of related party transactions in XBRL mode

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CS Lalit Rajput | Oct 23, 2021 | Views 480570

BSE has issued a directive on the filing of related party transactions in XBRL mode

BSE has issued a directive on the filing of related party transactions in XBRL mode

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

Legal Provision under SEBI (LODR) Regulations, 2015:

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.

Kindly note:

Filings in respect of Related Party Transactions (Regulation 23 (9)) should be filed by all listed companies, in XBRL mode only.

For query / clarification:

BSE has provided an online real-time Helpdesk to assist Users with their XBRL filings – they may email queries if any to [email protected] or call the Helpdesk on toll free number 1800 233 0445.

Disclaimer: Every effort has been made to avoid errors or omissions in this material. In spite of this, errors may creep in. Any mistake, error or discrepancy noted may be brought to our notice which shall be taken care of in the next edition. In no event the author shall be liable for any direct, indirect, special or incidental damage resulting from or arising out of or in connection with the use of this information.

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