Description
BSE updates surveillance measures for companies under Insolvency and Bankruptcy Code, moving two securities to Stage 1 effective September 10, 2025.
Summary
BSE has updated its surveillance measures for securities under the Insolvency and Bankruptcy Code (IBC) framework. Two companies - Harig Crankshafts Ltd and Vikas WSP Ltd - have been moved to Stage 1 of Additional Surveillance Measure effective September 10, 2025. No securities were moved between other stages or excluded from the framework.
Key Points
- Two securities added to Stage 1 surveillance under IBC framework
- Harig Crankshafts Ltd (Scrip Code: 500178, ISIN: INE905C01034)
- Vikas WSP Ltd (Scrip Code: 519307, ISIN: INE706A01022)
- No securities moved from Stage 1 to Stage 2 or vice versa
- No securities excluded from ASM framework
- Consolidated list includes 13+ companies under various IBC stages
Regulatory Changes
Enhanced surveillance measures applied to companies undergoing insolvency resolution process with staged approach from Stage 0 (receipt of disclosure) to Stage 1 (additional surveillance measures).
Compliance Requirements
- Securities under IBC framework subject to additional surveillance measures
- Enhanced monitoring and reporting requirements for listed companies
- Special trading conditions may apply to affected securities
Important Dates
- Effective Date: September 10, 2025
- Changes to surveillance classification take effect from market opening
Impact Assessment
Moderate impact on affected securities with potential trading restrictions and enhanced scrutiny. Investors in Harig Crankshafts and Vikas WSP should be aware of additional surveillance measures that may affect liquidity and trading patterns. The framework provides systematic monitoring of companies under insolvency proceedings to protect investor interests.
Impact Justification
Affects trading conditions for companies under insolvency proceedings with enhanced surveillance measures