BSE has commenced providing live status of applications filed by listed companies for their Schemes of Arrangement to the companies, on the online filing portal itself. This brings in further transparency to the listed companies as to the status of their filings for schemes with Asia’s largest, fastest and the only listed Stock Exchange in India.
While BSE had introduced its online filing portal called Listing Centre long ago while moving to mandatory online filing of all compliances and listing applications, it was decided to provide further transparency to the listed companies of the status of their application for schemes of arrangement as to the stage of approval within BSE. The status displayed, will also reflect as to when the Exchange has provided its comments / observations to the market regulator on the schemes. As per SEBI regulations, once the final document is received from the company, the Exchange is required to provide its observations to SEBI within prescribed timelines.
This move will boost the confidence of companies and give them full insight as to the stage of processing that their application has reached. This confidence boosting move, is proposed to be followed up by a roll out in a phased manner for displaying status of all types of listing related applications made through Exchange’s online filing portal called “BSE Listing Centre”.
