Description
BSE updates surveillance measures for companies under Insolvency and Bankruptcy Code with Eastern Silk Industries moving to Stage 1 effective August 28, 2025.
Summary
BSE has updated surveillance measures for securities under the Insolvency and Bankruptcy Code (IBC) framework. Eastern Silk Industries Ltd (Scrip Code: 590022, ISIN: INE962C01035) has been moved to Stage 1 of Additional Surveillance Measure for Companies relating to the Insolvency Resolution Process effective August 28, 2025.
Key Points
- One company (Eastern Silk Industries) moved to IBC Stage 1 surveillance
- No companies moved to Stage 0 (receipt of corporate announcement/disclosure)
- No companies transitioned between Stage I and Stage II
- No securities were excluded from ASM under IBC
- Consolidated list maintains 14+ companies under various IBC surveillance stages
Regulatory Changes
The circular implements staged surveillance measures under the IBC framework:
- Stage 0: Receipt of corporate announcement/disclosure from company
- Stage 1: Additional Surveillance Measure for IRP companies
- Stage 2: Enhanced surveillance for advanced IBC proceedings
Compliance Requirements
- Companies under IBC surveillance face enhanced monitoring
- Trading restrictions may apply based on surveillance stage
- Continuous disclosure obligations for affected companies
- Market participants should exercise heightened caution
Important Dates
- August 28, 2025: Effective date for surveillance measure changes
- Ongoing monitoring for all companies under IBC framework
Impact Assessment
The surveillance measures provide market protection by:
- Enhanced monitoring of financially distressed companies
- Staged approach allowing graduated intervention
- Maintaining market integrity during insolvency proceedings
- Protecting investor interests through increased transparency requirements
Impact Justification
Affects trading surveillance for companies under IBC with one company moving to enhanced surveillance stage