Mandatory Filing of Voting Results in XBRL Format on NSE

 Mandatory Filing of Voting Results in XBRL Format on NSE

In a recent development, the National Stock Exchange (NSE) has introduced a mandate for the filing of Voting Results of General Meetings exclusively in the XBRL format. This regulatory change is aimed at streamlining the reporting process and ensuring uniformity in compliance practices among listed entities.

Key Points:

1. XBRL Exclusivity:

   • The NSE has directed listed entities to file Voting Results solely in the XBRL format, discontinuing the previous practice of filing in both PDF and XBRL formats.
   • The shift towards exclusive XBRL filing is a proactive step to enhance efficiency and standardize reporting procedures.

2. Path for XBRL Submission:

   • To facilitate this transition, a dedicated path on the NEAPS Portal has been provided for extracting XBRL data related to Voting Results:
     • Path: NEAPS > Compliance > Event Based Compliances > Voting Result
   • The submission of XBRL data can be done through the following path on the NEAPS Portal:
     • Path: NEAPS > Compliance > Common XBRL Upload > Voting Results

3. Implementation Deadline:

   • The new mandate comes into effect from November 01, 2023. Henceforth, all listed entities must adhere to the exclusive XBRL filing for Voting Results.
   • Compliance with this requirement is crucial for meeting the stipulations of Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

4. Regulatory Circular:

   • The circular, dated October 17, 2023, issued by the NSE's Listing Department, formally communicates the mandatory nature of filing Voting Results in XBRL mode.
   • Compliance with the circular ensures that entities fulfill their obligations under Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Conclusion: The NSE's decision to make XBRL the exclusive format for filing Voting Results reflects a commitment to modernize reporting standards and leverage technology for seamless compliance. Listed entities are advised to familiarize themselves with the new filing requirements and ensure timely and accurate submissions in adherence to the specified XBRL format.

For further details and guidance, entities can refer to the circular (Ref. No.: NSE/CML/2023/74) dated October 17, 2023, available on the NSE website. It is imperative for listed entities to adopt these changes promptly to avoid any regulatory non-compliance issues.