Description

BSE updates surveillance measures for securities under Insolvency and Bankruptcy Code with 8 companies moving to Stage 0 effective September 1, 2025.

Summary

BSE has updated its surveillance measures for securities under the Insolvency and Bankruptcy Code (IBC) framework effective September 1, 2025. Eight companies are moving to Stage 0 (Receipt of corporate announcement/disclosure stage), while no securities are being excluded from ASM or moving between other stages.

Key Points

  • 8 securities moving to IBC Stage 0 surveillance effective September 1, 2025
  • No securities moving between Stage I and Stage II
  • No securities being excluded from Additional Surveillance Measure (ASM)
  • Consolidated list maintains existing securities under various IBC stages
  • Framework includes T+0 scrips and recommencement scrips with special markings

Companies Affected

Moving to Stage 0 (Receipt of corporate announcement/disclosure):

  1. Arshiya Ltd (506074)
  2. Compuage Infocom Ltd (532456)
  3. Future Lifestyle Fashions Ltd (536507)
  4. Future Supply Chain Solutions Ltd (540798)
  5. Gensol Engineering Ltd (542851)
  6. Harig Crankshafts Ltd (500178)
  7. String Metaverse Ltd (534535)
  8. Swan Defence And Heavy Industries Ltd (533107)

Surveillance Framework

  • Stage 0: Receipt of corporate announcement/disclosure from company
  • Stage I: Additional Surveillance Measure for companies in Insolvency Resolution Process
  • Stage II: Enhanced surveillance for companies under IBC
  • Special markings for T+0 scrips (~) and recommencement scrips (^)

Important Dates

  • Effective Date: September 1, 2025
  • All changes to surveillance measures take effect from market opening on this date

Impact Assessment

The surveillance measures will impose additional trading restrictions and monitoring on the affected securities. Investors in these companies should expect enhanced disclosure requirements and potential trading limitations as part of BSE’s risk management framework for companies under insolvency proceedings.

Impact Justification

Affects trading conditions for 8 companies under IBC surveillance framework