NSE seeks feedback on submission of board assembly outcomes in XBRL format

Leading bourse NSE has sought feedback from listed entities on the proposal emigrate from PDF to XBRL format to submit board assembly outcomes to assist the alternate in analysing the information.

The suggestions has been sought until October 15, the National Stock Exchange (NSE) stated in a round.

XBRL (eXtensible Business Reporting Language) is a language for the digital communication of enterprise and monetary knowledge used for enterprise reporting all over the world. It offers main advantages within the preparation, evaluation and communication of enterprise info.

Under the foundations, listed entities are required to submit periodical compliance filings to inventory exchanges inside prescribed timelines and accordingly have been mandated to report XBRL-based filings for financials from the 12 months 2015 onwards.

Over the interval, inventory exchanges in a phased method have been aiming to transform filings made below the Securities and Exchange Board of India (Sebi) guidelines from PDF to XBRL format.

With an goal to standardise securities market knowledge, it was deliberated that XBRL could be carried out for all company filings.

Accordingly, inventory exchanges have carried out XBRL-based compliance submitting mechanisms, that includes an identical and homogenous compliance knowledge constructions that won’t solely ease the compliance burden on listed entities but in addition allow the evaluation of the information submitted by the listed entities.

Further, on this regard, submitting of the result of a board assembly associated to dividends, buyback, bonus shares and voluntary delisting, would require listed entities to file the identical in XBRL codecs.

Accordingly, NSE has sought feedback “on the proposal to migrate from Portable Document Format (PDF) to XBRL format for submitting corporate announcements for the outcome of a board meeting by listed entities to stock exchange pertaining to dividend, buyback, bonus shares and voluntary delisting as required under the provisions of Sebi’s LODR (Listing Obligations and Disclosure Requirements) rules”.

In addition, the alternate has issued a draft format additionally for making such bulletins.