Description

BSE circular detailing surveillance measures for companies under IBC proceedings, with Omkar Speciality Chemicals excluded from ASM effective August 5, 2025.

Summary

BSE has issued updated surveillance measures for securities under the Insolvency and Bankruptcy Code (IBC) framework effective August 5, 2025. The circular provides consolidated lists of companies at various stages of IBC proceedings and announces the exclusion of Omkar Speciality Chemicals Ltd from Additional Surveillance Measures (ASM).

Key Points

  • No new securities added to Stage 0 (corporate announcement receipt) or Stage 1 (IRP) surveillance
  • No securities moved between surveillance stages
  • Omkar Speciality Chemicals Ltd (Scrip Code: 533317, ISIN: INE474L01016) excluded from ASM
  • Consolidated list includes 14+ companies under various IBC stages
  • T+0 scrips marked with ~ symbol are included based on parent company status

Regulatory Changes

The circular maintains the existing IBC surveillance framework with three main categories:

  • Stage 0: Receipt of corporate announcement/disclosure from company
  • Stage 1: Companies in Insolvency Resolution Process (IRP)
  • Stage 2: Advanced stage surveillance measures

Compliance Requirements

  • Listed companies under IBC proceedings must comply with enhanced disclosure requirements
  • Trading members should note surveillance classifications for risk management
  • Companies must provide timely corporate announcements regarding IBC status changes

Important Dates

  • August 5, 2025: Effective date for all surveillance measure changes
  • August 5, 2025: Omkar Speciality Chemicals exclusion from ASM becomes effective

Impact Assessment

The exclusion of Omkar Speciality Chemicals from ASM indicates improved financial or procedural compliance, potentially allowing normal trading conditions. The maintenance of existing surveillance lists suggests stable monitoring of companies under insolvency proceedings, with no significant new additions requiring enhanced oversight.

Impact Justification

Routine surveillance update with one company exclusion from monitoring