Description

BSE updates surveillance measures for companies under Insolvency and Bankruptcy Code, with Axis Solutions Ltd moving to Stage 1 effective August 8, 2025.

Summary

BSE has updated its surveillance measures for securities under the Insolvency and Bankruptcy Code (IBC) framework effective August 8, 2025. The circular lists companies across different stages of surveillance, with Axis Solutions Ltd being newly added to Stage 1 of Additional Surveillance Measure.

Key Points

  • Axis Solutions Ltd (Scrip Code: 511144, ISIN: INE520G01024) moves to Stage 1 surveillance under IBC framework
  • No securities are being moved to Stage 0 (receipt of corporate announcement/disclosure)
  • No securities are moving between Stage I and Stage II
  • No securities are being excluded from ASM under IBC
  • Consolidated list includes 14+ companies under various stages of IBC surveillance

Regulatory Changes

  • Enhanced monitoring for Axis Solutions Ltd under Stage 1 surveillance
  • Continued application of existing IBC surveillance framework
  • Maintenance of multi-stage surveillance system for companies in insolvency proceedings

Compliance Requirements

  • Companies under surveillance must comply with enhanced disclosure requirements
  • Trading participants must be aware of surveillance status when dealing in these securities
  • Enhanced monitoring and reporting obligations for listed entities under IBC

Important Dates

  • Effective Date: August 8, 2025
  • Circular Date: August 7, 2025

Impact Assessment

Market Impact: Limited to specific securities under surveillance, particularly Axis Solutions Ltd moving to enhanced monitoring stage. The surveillance measures help protect investors by providing additional oversight for companies in financial distress or insolvency proceedings.

Operational Impact: Trading and settlement activities continue normally but with enhanced monitoring protocols for listed securities. Market participants should exercise additional caution when dealing in securities under IBC surveillance.

Impact Justification

Routine surveillance update affecting specific companies under insolvency proceedings