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Module: | Statutory Audit, NFRA & ICAI Standards

Q70: Consider the following statements regarding the Integrated Filings framework introduced under Regulation 10(1A) of SEBI (LODR):

1. SEBI introduced Regulation 10(1A) to enable listed entities to make an integrated filing of periodic governance and financial reports across regulatory platforms.
2. The integrated filing system mandates that companies submit their filings exclusively in physical, hard-copy formats to the SEBI headquarters to ensure ultimate data security.
3. The primary objective of the integrated filing mechanism is to streamline corporate governance processes and eliminate the multiplicity of identical compliance submissions.

Which of the above statements is/are incorrect?
A
Only 1
B
Only 2
C
Only 3
D
Only 1 and 2
✅ Correct Answer: B
🎯 Quick Answer:
B. Only 2 is incorrect.
Concept Definition: Integrated Filings refer to a unified digital submission portal that allows a listed company to file a compliance document once, which is then automatically routed to multiple relevant regulatory bodies (like BSE, NSE, and SEBI). Structural Breakdown: Statement 1 is correct; Regulation 10(1A) was explicitly inserted to grant SEBI the power to facilitate this single-window clearance.
Statement 2 is incorrect; the entire purpose of integrated filing is rapid digital dissemination via APIs and XBRL formats.
Forcing physical hard-copy submissions contradicts the very essence of the amendment.
Statement 3 is correct; reducing the administrative burden of filing the exact same PDF on four different websites is the core "ease of doing business" objective.
Historical/Related Context: Historically, a Company Secretary had to log into the MCA portal, the BSE portal, the NSE portal, and occasionally SEBI's scores/reporting portals to upload identical quarterly results, leading to timing mismatches and administrative fatigue.
Causal Reasoning: Digital integrated filing ensures that the market receives information symmetrically.
A single upload point guarantees that all stock exchanges broadcast the price-sensitive information to investors at the exact same millisecond.
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