01/10/2024
Summary of the MCA Notification dated 28/09/2024 and BSE & NSE Circulars dated 30/09/2024.
These updates are integrated in our free-to-use website ca2013.com.
Introduction of the single filing system through API-based integration between Stock Exchanges
Accordingly, both the Exchanges had jointly initiated the development to facilitate the same enabling the entities which are listed on both the Stock Exchanges i.e. BSE and NSE with an option to file the disclosures and revisions at any one Exchange.
Further, the first phase for the single filing system has been implemented for “equity” listed and “equity and debt” listed companies w.r.t. disclosure of Grievance Redressal Mechanism from October 01, 2024, for the disclosures to be filed for quarter ended September 30, 2024.
The entities are directed to be ensured that the acknowledgment is received from both the Exchanges and to check that the filings are available on both the Exchanges websites.
The disclosures for exclusively Debt listed companies, REITs and INVITs will fall under subsequent phase and till then such companies will continue to make the disclosures on both the Exchanges as per the current practice.
Click here to view the BSE Circular
Click here to view the NSE Circular
Amendment to the Companies (Indian Accounting Standards) Rules, 2015
Since Insurance Companies, Banking Companies and NBFCs are exempted from following the Indian Accounting Standards (Ind AS) for preparation of their financial statements, MCA vide this notification provides that an insurer or insurance company may provide its financial statement as per Ind AS 104 for the purposes of consolidated financial statements by its parent or investor or venturer till the IRDA notifies the Ind AS 117. Till then, Ind AS 104 shall continue to apply, as specified in the newly introduced Schedule to these rules.
Click here to view the MCA Notification
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