Description
BSE updates surveillance measures for securities under Insolvency and Bankruptcy Code with 13 companies moving to Stage 0 effective August 1, 2025.
Summary
BSE has updated surveillance measures for securities under the Insolvency and Bankruptcy Code (IBC) framework effective August 1, 2025. Thirteen companies are moving to Stage 0 (Receipt of corporate announcement/disclosure) surveillance measure, while no securities are being excluded from ASM or moving between other stages.
Key Points
- 13 securities moving to IBC Stage 0 surveillance effective August 1, 2025
- No securities moving between Stage I and Stage II
- No securities being excluded from Additional Surveillance Measure (ASM)
- All changes are coordinated with NSE as indicated by (*) notation
- T+0 scrips marked with ~ are shortlisted based on parent company IBC status
Regulatory Changes
- Implementation of IBC surveillance framework with multiple stages (Stage 0, Stage I, Stage II)
- Stage 0 applies to companies with corporate announcements/disclosures related to insolvency
- Additional surveillance measures for companies under Insolvency Resolution Process (IRP)
Compliance Requirements
- Companies under IBC surveillance subject to enhanced monitoring
- Trading restrictions may apply based on surveillance stage
- Investors should exercise caution when trading securities under IBC framework
- Market participants must comply with surveillance measure requirements
Important Dates
- Effective Date: August 1, 2025 - All surveillance measure changes become effective
Companies Affected (Moving to Stage 0)
- Alps Industries Ltd (530715)
- East India Drums and Barrels Manufacturing Ltd (523874)
- Hindusthan National Glass & Industries Ltd (515145)
- Housing Development and Infrastructure Ltd (532873)
- Indosolar Ltd (533257)
- Jaiprakash Associates Ltd (532532)
- Morarjee Textiles Ltd (532621)
- Omkar Speciality Chemicals Ltd (533317)
- Rajeswari Infrastructure Ltd (526823)
- Reliance Communications Ltd (532712)
- Seya Industries Ltd (524324)
- Ujaas Energy Ltd (533644)
- Vas Infrastructure Ltd (531574)
Impact Assessment
- Trading Impact: Securities under IBC surveillance may face trading restrictions and enhanced monitoring
- Investor Impact: Heightened risk for investors in affected securities requiring careful evaluation
- Market Impact: Improved transparency through surveillance measures for distressed companies
- Liquidity Impact: Potential reduction in trading volumes for affected securities due to enhanced scrutiny
Impact Justification
Affects 13 securities moving to IBC surveillance stage, impacting trading conditions for investors