Description

BSE updates on surveillance measures for securities under Insolvency and Bankruptcy Code (IBC), including one security (RCI Industries & Technologies Ltd) being excluded from ASM framework effective October 14, 2025.

Summary

BSE has issued its periodic update on surveillance measures for securities under the Insolvency and Bankruptcy Code (IBC) framework, effective October 14, 2025. This circular shows nil additions across all IBC surveillance stages (Stage 0, Stage 1, and Stage 2), with one security being excluded from the Additional Surveillance Measure (ASM). RCI Industries & Technologies Ltd (Scrip Code: 537254, ISIN: INE140B01014) is being removed from the IBC surveillance framework.

Key Points

  • No new securities added to Stage 0 (Receipt of corporate announcement/disclosure regarding insolvency)
  • No new securities added to Stage 1 of IBC surveillance measures
  • No securities moved from Stage 1 to Stage 2 or vice versa
  • RCI Industries & Technologies Ltd excluded from ASM for Companies under IBC effective October 14, 2025
  • Consolidated list maintains 14 securities under various stages of IBC surveillance
  • Framework includes special markings for T+0 scrips (~) and recommencement scrips (^)

Regulatory Changes

No new regulatory changes introduced. This is a routine periodic update implementing the existing IBC surveillance framework established by BSE and NSE.

Compliance Requirements

No new compliance requirements. Market participants should note:

  • Securities under IBC surveillance are subject to Additional Surveillance Measures including potential trading restrictions
  • T+0 scrips shortlisted in IBC framework are marked with ~ symbol
  • Recommencement scrips are marked with ^ symbol
  • Some securities are marked with * indicating NSE-specific designations

Important Dates

  • October 14, 2025: Effective date for all changes mentioned in this circular, including exclusion of RCI Industries & Technologies Ltd from IBC surveillance

Impact Assessment

Market Impact: Minimal. This is a routine surveillance update with no new securities being added to heightened monitoring.

Positive Development: The exclusion of RCI Industries & Technologies Ltd from the IBC surveillance framework suggests resolution of insolvency-related concerns for this company, which is positive for its shareholders and creditors.

Investor Consideration: The consolidated list shows 14 securities remaining under various stages of IBC surveillance, ranging from initial disclosure stage (Stage 0) to active insolvency resolution process (Stage 1). Investors should exercise caution with these securities as they face heightened risk due to insolvency proceedings.

Trading Impact: Securities under IBC surveillance typically face additional trading restrictions and enhanced margin requirements. The removal of one security reduces the universe of restricted securities.

Impact Justification

Routine surveillance update with no new securities added to IBC framework; only one security excluded from monitoring, indicating resolution of insolvency concerns for that entity