Description
BSE updates surveillance measures for companies under Insolvency and Bankruptcy Code proceedings, with Maxgrow India Ltd moving to Stage 1.
Summary
BSE has updated its surveillance measures for securities under the Insolvency and Bankruptcy Code (IBC) framework effective August 18, 2025. Maxgrow India Ltd (Scrip Code: 521167) has been moved to Stage 1 of Additional Surveillance Measure for Companies relating to the Insolvency Resolution Process.
Key Points
- One security (Maxgrow India Ltd) moved to IBC Stage 1 surveillance
- No securities moved to Stage 0 (receipt of corporate announcement/disclosure)
- No securities moved from Stage I to Stage II or vice versa
- No securities excluded from ASM for IBC
- Consolidated list shows 14+ companies under various stages of IBC surveillance
Regulatory Changes
- Updated Additional Surveillance Measure (ASM) framework for IBC companies
- Enhanced monitoring for companies under insolvency resolution process
- Staged approach from Stage 0 (disclosure stage) to higher surveillance levels
Compliance Requirements
- Companies under IBC surveillance subject to additional monitoring
- Enhanced disclosure requirements for corporate announcements
- Compliance with insolvency resolution process guidelines
- Special marking for T+0 scrips and recommencement scrips
Important Dates
- Effective Date: August 18, 2025
- All surveillance measure changes applicable from this date
Impact Assessment
Market Impact: Medium - affects trading and investor confidence in companies under IBC proceedings Operational Impact: Medium - enhanced surveillance may affect liquidity and trading patterns Investor Impact: Increased transparency for companies in financial distress, enabling better risk assessment
Impact Justification
Routine surveillance measure update affecting one security moving to higher surveillance stage