Description

BSE updates surveillance measures for companies under Insolvency and Bankruptcy Code, with Maxgrow India Ltd moving to Stage 1 effective August 18, 2025.

Summary

BSE has updated surveillance measures for securities of companies under the Insolvency and Bankruptcy Code (IBC). The circular provides consolidated lists of securities at different stages of surveillance measures, with Maxgrow India Ltd (Scrip Code: 521167) moving to Stage 1 of Additional Surveillance Measure effective August 18, 2025.

Key Points

  • Maxgrow India Ltd (INE485D01043) moves to Stage 1 of Additional Surveillance Measure under IBC
  • No securities are moving to Stage 0 (receipt of corporate announcement/disclosure)
  • No securities are moving from Stage I to Stage II or vice versa
  • No securities are being excluded from ASM for IBC
  • Consolidated list includes 14+ companies currently under various stages of IBC surveillance

Regulatory Changes

  • Implementation of staged surveillance framework for companies under insolvency proceedings
  • Companies marked with ^ are recommencement scrips
  • Securities marked with ~ are T+0 scrips shortlisted under IBC framework as per parent company
  • Alignment with NSE measures where applicable

Compliance Requirements

  • Trading members must comply with enhanced surveillance measures for listed securities
  • Special attention required for securities under different stages of IBC proceedings
  • Monitoring of corporate announcements and disclosures from companies under surveillance

Important Dates

  • August 18, 2025: Effective date for surveillance measure changes
  • Ongoing monitoring of securities under consolidated surveillance list

Impact Assessment

Trading Impact: Enhanced surveillance may affect trading volumes and liquidity for affected securities. Investor Impact: Increased transparency and risk awareness for securities under insolvency proceedings. Market Impact: Systematic monitoring helps maintain market integrity during corporate restructuring processes.

Impact Justification

Affects trading surveillance for companies under insolvency proceedings, with specific impact on Maxgrow India Ltd