It seems the e-governance era has arrived. The latest to join the bandwagon is the Bombay Stock Exchange (BSE). The initiative undertaken by BSE is unique in many ways. The system eliminates the filing of documents or transmission of messages by fax and the need to obtain an acknowledgement, duly stamped, at BSE’s delivery counter.
An instant confirmatory e-mail from the BSE to the users under this system acts as evidence of filing the information with it.
To begin with, reporting of financial results and corporate announcements have been taken up by BSE. While the company secretary or the com- pliance officer of a company can pick and choose the ‘maker’ and ‘checker’ under this unique reporting system, it is the two-way formation and submission of information that ensures appropriate confidentiality.
It is expected that Sebi will make e-filing with stock exchanges mandatory sooner or later and pave the way for filing of all documents by a company at a single window.
Autor(en)/Author(s): KR Ramachandra
Quelle/Source: The Financial Express, 24.08.2006
