Description

BSE updates surveillance measures for companies under Insolvency and Bankruptcy Code with Setubandhan Infrastructure Ltd moving to Stage 1 effective August 29, 2025.

Summary

BSE issued surveillance measures for securities under the Insolvency and Bankruptcy Code (IBC) effective August 29, 2025. One company, Setubandhan Infrastructure Ltd (Scrip Code: 533605), has been moved to Stage 1 of Additional Surveillance Measure for Companies relating to the Insolvency Resolution Process.

Key Points

  • Setubandhan Infrastructure Ltd (533605, INE023M01027) shortlisted in 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 includes 14+ companies under various IBC surveillance stages

Regulatory Changes

  • Implementation of staged surveillance framework for companies under IBC
  • Stage 0: Receipt of corporate announcement/disclosure from company
  • Stage 1: Additional Surveillance Measure for Companies relating to Insolvency Resolution Process
  • Stage 2: Enhanced surveillance measures

Compliance Requirements

  • Companies under IBC surveillance subject to additional monitoring
  • Enhanced disclosure requirements for affected securities
  • Trading restrictions may apply based on surveillance stage
  • Market participants must comply with surveillance framework provisions

Important Dates

  • August 29, 2025: Effective date for surveillance measure changes
  • August 28, 2025: Exclusion effective date (no exclusions in this circular)

Impact Assessment

Market Impact: Limited impact as only one security affected in this update. Setubandhan Infrastructure Ltd investors should expect enhanced monitoring and potential trading restrictions.

Operational Impact: Standard surveillance procedures apply. No significant operational changes for market participants beyond compliance with existing IBC surveillance framework.

Investor Impact: Shareholders of Setubandhan Infrastructure Ltd should be aware of Stage 1 surveillance status which may affect liquidity and trading patterns.

Impact Justification

Regular surveillance update affecting one company moving to enhanced monitoring stage