Top stock exchange NSE has decided to introduce seamless corporate announcement filing mechanism for information related to change in auditors, change in directors, declaration of audit reports with the un-modified opinion, from tomorrow.
Besides, listed companies would be required to file corporate announcements on reappointment and statement of the impact of audit qualifications through the mechanism.
The announcements filed by listed companies under the mechanism are disseminated directly on the NSE website without the exchange's intervention. This help's in the dissemination of corporate announcements to investors without loss of time. "Under this seamless system, the information will get disseminated as has been filed by listed entity. Listed entity shall exercise due care while filing the announcement and shall be solely answerable for the announcement," NSE said in a notice recently.
"This system will be in effect from August 17, 2017," it added. Prior to this, the system was facilitated by the exchange to provide announcements by listed companies related to address change, allotment of securities, appointment, auditors report, committee meeting updates, cessation, the outcome of board meeting and resignation. Moreover, the registrar and share transfer agent update, strikes/lockouts/disturbances updates, trading window, code of conduct under Sebi's insider trading regulations, can also be filed under this system.