Description

BSE updates surveillance measures for companies under IBC proceedings, with Eastern Silk Industries Ltd moving to Stage 1.

Summary

BSE has updated surveillance measures for securities under the Insolvency and Bankruptcy Code (IBC) framework effective August 28, 2025. Eastern Silk Industries Ltd (Scrip Code: 590022, ISIN: INE962C01035) has been moved to Stage 1 of Additional Surveillance Measure for companies under Insolvency Resolution Process.

Key Points

  • Eastern Silk Industries Ltd placed under Stage 1 Additional Surveillance Measure for IBC companies
  • No securities moved to Stage 0 (Receipt of corporate announcement/disclosure)
  • No securities moved from Stage II to Stage I or vice versa
  • No securities excluded from ASM for IBC companies
  • Consolidated list includes 14+ companies across various stages of IBC surveillance

Regulatory Changes

Implementation of tiered surveillance framework for companies under IBC:

  • Stage 0: Receipt of corporate announcement/disclosure from company
  • Stage 1: Additional Surveillance Measure for companies under Insolvency Resolution Process
  • Stage 2: Enhanced surveillance measures

Compliance Requirements

  • Companies under IBC surveillance must comply with enhanced disclosure requirements
  • Trading members must be aware of surveillance status for risk management
  • Special attention required for T+0 scrips and recommencement scrips

Important Dates

  • Effective Date: August 28, 2025 - New surveillance measures come into effect

Impact Assessment

Limited immediate market impact as only one security (Eastern Silk Industries) is newly affected. The surveillance framework provides systematic monitoring of companies under insolvency proceedings, helping protect investor interests while maintaining orderly trading. The consolidated list shows ongoing monitoring of companies across different stages of financial distress.

Impact Justification

Affects specific companies under insolvency proceedings with enhanced surveillance measures