Description

BSE updates the list of securities under Additional Surveillance Measure for companies undergoing Insolvency Resolution Process as per IBC, effective October 10, 2025.

Summary

BSE has issued an update on securities subject to Additional Surveillance Measure (ASM) for companies under the Insolvency Resolution Process (IRP) as per the Insolvency and Bankruptcy Code (IBC). Four securities remain in Stage 1 of surveillance effective October 10, 2025. No securities are moving between stages or being excluded from the framework.

Key Points

  • Four securities continue in IBC Stage 1: Eastern Silk Industries Ltd, Indosolar Ltd, Jaiprakash Associates Ltd, and Ujaas Energy Ltd
  • No new securities added to Stage 0 (Receipt of corporate announcement)
  • No securities moving from Stage I to Stage II
  • No securities moving from Stage II to Stage I
  • No securities being excluded from ASM under IBC framework
  • Changes effective from October 10, 2025

Regulatory Changes

No new regulatory changes introduced. This circular provides a periodic update to the existing IBC surveillance framework maintaining the status quo for affected securities.

Compliance Requirements

  • Trading members must adhere to surveillance measures applicable to securities listed in Stage 1
  • Enhanced monitoring and reporting requirements apply to the four securities under IBC Stage 1
  • Market participants should note the surveillance status when trading these securities

Important Dates

  • Effective Date: October 10, 2025 - Updated surveillance measures take effect

Impact Assessment

Market Impact: Limited immediate market impact as no securities are newly added or moved between stages. The four companies already under Stage 1 surveillance continue to be subject to existing trading restrictions and enhanced monitoring.

Operational Impact: Minimal operational changes required as the surveillance framework remains unchanged. Trading members should continue existing protocols for handling securities under IBC surveillance.

Investor Impact: Investors holding or trading securities of the four listed companies should be aware of continued surveillance measures which may include trading restrictions, additional margin requirements, or other regulatory oversight mechanisms applicable to IBC Stage 1 securities.

Impact Justification

High importance due to surveillance measures affecting trading in securities of companies under insolvency proceedings. Medium impact as it affects specific securities already under IBC process with 4 companies in Stage 1.