BSE begins providing live status of schemes of arrangement applications

The BSE has started providing live updates about status of applications filed by companies for schemes of arrangement, according to the bourse.

It would also provide details about when the exchange provided its comments or observations to the markets regulator on the schemes.

"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," it said in a release Tuesday.

Generally, a scheme of arrangement is a pact between a company and its shareholders, creditors or both.

The move would provide more transparency to the listed companies of the status of their application for schemes of arrangement as to the stage of approval within the exchange, the release said.

"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'," it added.