Description
BSE circular updating surveillance measures for securities under Insolvency and Bankruptcy Code with exclusions for Hindusthan National Glass and Steelco Gujarat
Summary
BSE has issued an update to surveillance measures for securities under the Insolvency and Bankruptcy Code (IBC) framework effective August 19, 2025. The circular excludes two securities from Additional Surveillance Measures while maintaining the existing framework for other securities.
Key Points
- No new securities added to any IBC surveillance stage
- Two securities excluded from ASM under IBC framework
- Consolidated list shows 13+ securities across different IBC stages
- Framework includes Stage 0 (receipt of corporate announcement) and Stage 1 surveillance
Regulatory Changes
- Securities excluded from ASM for Companies as per IBC effective August 19, 2025
- Maintained existing surveillance framework with stage-based monitoring
- No changes to movement between surveillance stages
Compliance Requirements
- Trading members must note exclusion of specified securities from IBC surveillance
- Continued compliance with surveillance measures for remaining securities
- Monitor corporate announcements for securities under Stage 0
Important Dates
- Effective Date: August 19, 2025 - Implementation of surveillance measure updates
Impact Assessment
Positive Impact: Two securities (Hindusthan National Glass & Industries Ltd and Steelco Gujarat Ltd) are excluded from additional surveillance measures, potentially improving trading flexibility. Market Impact: Limited as only affects two specific securities while maintaining surveillance framework for other IBC-related securities.
Impact Justification
Routine surveillance update with specific exclusions affecting two securities