Description
BSE updates surveillance measures for securities under Insolvency and Bankruptcy Code with stage transitions effective August 29, 2025.
Summary
BSE has updated surveillance measures for securities under the Insolvency and Bankruptcy Code (IBC) framework, with changes effective August 29, 2025. One security, Setubandhan Infrastructure Ltd, has been moved to Stage 1 of Additional Surveillance Measure.
Key Points
- Setubandhan Infrastructure Ltd (Scrip Code: 533605, ISIN: INE023M01027) moved to IBC Stage 1
- No securities moved to Stage 0 (Receipt of corporate announcement/disclosure)
- No securities transitioned between Stage I and Stage II
- No securities excluded from ASM for IBC framework
- Consolidated list shows 14+ securities under various IBC stages
Regulatory Changes
- Implementation of staged surveillance framework for IBC-related securities
- Stage-based monitoring system from Stage 0 (announcement receipt) to higher stages
- Special marking system for T+0 scrips and recommencement scrips
Compliance Requirements
- Securities under IBC framework subject to enhanced surveillance measures
- Companies must comply with additional disclosure requirements based on stage
- Market participants should note trading restrictions may apply
Important Dates
- August 29, 2025: Effective date for stage transitions
- August 28, 2025: Date for exclusions from ASM (if any)
Impact Assessment
- Limited immediate market impact with only one security transitioning
- Enhanced monitoring for distressed companies under insolvency proceedings
- Investors should exercise caution with securities under IBC surveillance
- Framework provides systematic approach to monitoring insolvency-related risks
Impact Justification
Routine surveillance measure updates affecting limited securities under IBC framework