Leading stock exchange NSE has asked trading members to submit their respective annual returns for fiscal 2016-17 by September-end with certain additional financial details.
Leading stock exchange NSE has asked trading members to submit their respective annual returns for fiscal 2016-17 by September-end with certain additional financial details. Annual Returns, which includes balance sheets, are required to be submitted only by way of upload in electronic format through the exchange’s ENIT (Electronic NSE Interface for Trading Members) system. “Members are hereby requested to submit annual returns that is balance sheet, profit & loss account, details in respect of shareholding, directors, etc as may be applicable for the fiscal year ended on March 31, 2017, as per prescribed formats latest by September 30, 2017,” NSE said in a notice.
The exchange also said that the members are required to provide four additional financial details as prescribed under enhanced supervision guidelines. These details are on advance/margin/collaterals from customers, inter-corporate deposits given, value of investments or advances or loans in group companies or associates or firms or entities and value of maximum outstanding inter corporate debts given during the year.
As per norms, delay in submission of annual returns attract a penalty of Rs 100 per day of delay for the first month after due date till the date of submission.
Further, a fine of Rs 200 per day would be levied for delay for the second month after due date till the date of submission, this will go up to Rs 300 per day of delay for the third month after due date till the date of submission. Following this, from fourth month after due date onwards, actions as may be decided by the relevant authority will be initiated.