NSE introduces new filing mechanism on electronic platform

Mumbai: Top stock exchange NSE has set up a seamless announcement filing mechanism to provide information to investors without any loss of time.

The announcements filed by listed companies under the new system will be disseminated directly on the NSE website without the exchange's intervention. This would help in instantaneous dissemination of corporate announcements.

The new mechanism has come into effect from May 3.

"In line with the principles of corporate governance and to provide information to shareholders without any loss of time, the exchange is pleased to introduce seamless announcement filing mechanism for certain additional short descriptions (subjects) on the NSE Electronic Application Processing System," NSE said in a notice.

Announcements by NSE-listed companies related to address change, allotment of securities, appointment, auditors report, committee meeting updates, cessation, outcome of board meeting, resignation, registrar & share transfer agent update, strikes/lockouts/disturbances updates, trading window, code of conduct under Sebi's insider trading regulations, can be filed under this system.

"Under this seamless system, the information will get disseminated as has been filed by listed entity," National Stock Exchange (NSE) said.

"Listed entity shall exercise due care while filing the announcement and shall be solely answerable for the announcement," it added.

BSE, the other major stock exchange, had introduced a similar corporate announcement filing system (CAFS) in March.