Description
BSE circular updating surveillance measures for companies under IBC proceedings, including stage movements and consolidated list of affected securities.
Summary
BSE has updated surveillance measures for securities under the Insolvency and Bankruptcy Code (IBC) framework effective July 31, 2025. The circular includes one new security (Diksha Greens Ltd) moving to Stage 0 surveillance and provides a consolidated list of all securities currently under various IBC surveillance stages.
Key Points
- Diksha Greens Ltd (Scrip Code: 542155, ISIN: INE01GR01018) added to Stage 0 surveillance
- No securities moved between Stage I and Stage II surveillance measures
- No securities excluded from ASM for IBC companies
- Consolidated list includes 14+ companies across different IBC surveillance stages
- T+0 scrips are specially marked when shortlisted under IBC framework
Regulatory Changes
- Implementation of Additional Surveillance Measure (ASM) for companies under IBC proceedings
- Stage-based surveillance framework from Stage 0 (corporate announcement receipt) to higher stages
- Special marking system for T+0 scrips under parent company IBC framework
Compliance Requirements
- Securities under IBC surveillance subject to additional monitoring requirements
- Companies must comply with enhanced disclosure obligations
- Trading members must be aware of surveillance status for affected securities
Important Dates
- Effective Date: July 31, 2025 - New surveillance measures come into effect
Impact Assessment
The surveillance measures affect trading conditions for multiple securities under insolvency proceedings. Stage 0 companies face initial monitoring for corporate announcements, while Stage 1 companies are subject to more stringent surveillance. This framework helps protect investors by providing enhanced oversight of companies in financial distress while maintaining market liquidity.
Impact Justification
Affects multiple securities under IBC proceedings with surveillance measure changes impacting trading conditions