Description

BSE updates surveillance measures for companies under Insolvency and Bankruptcy Code (IBC), with Goenka Diamond & Jewels Ltd moving to Stage 1 effective October 27, 2025.

Summary

BSE has issued updated surveillance measures for securities of companies undergoing Insolvency Resolution Process (IRP) under the Insolvency and Bankruptcy Code (IBC). Effective October 27, 2025, Goenka Diamond & Jewels Ltd (Scrip Code: 533189, ISIN: INE516K01024) has been placed under Stage 1 Additional Surveillance Measure. No securities are being moved to Stage 0, excluded from surveillance, or transitioning between Stage 1 and Stage 2.

Key Points

  • One security added to Stage 1 surveillance: Goenka Diamond & Jewels Ltd
  • No securities shortlisted for Stage 0 (Receipt of corporate announcement/disclosure)
  • No securities moving from Stage 1 to Stage 2 or vice versa
  • No securities being excluded from ASM for IBC
  • Circular includes consolidated list of all securities currently under IBC surveillance framework
  • Special notations apply: (*) indicates NSE-aligned securities, (~) marks T+0 scrips under parent company IBC framework, (^) denotes recommencement scrips

Regulatory Changes

This circular implements the framework for Additional Surveillance Measure (ASM) for companies under the Insolvency and Bankruptcy Code. The IBC surveillance framework operates in stages:

  • Stage 0: Receipt of corporate announcement/disclosure from the company regarding insolvency proceedings
  • Stage 1: Additional Surveillance Measure for Companies relating to Insolvency Resolution Process
  • Stage 2: Enhanced surveillance for companies remaining under IBC proceedings

The consolidated list shows 14+ securities currently under various stages of IBC surveillance, including companies like Aban Offshore Ltd, AGS Transact Technologies Ltd, Alchemist Ltd, Alps Industries Ltd, and others.

Compliance Requirements

  • Market participants must note the surveillance status of Goenka Diamond & Jewels Ltd when trading
  • Enhanced monitoring and reporting requirements apply to securities under Stage 1 surveillance
  • Investors should be aware of increased risk associated with securities under IBC proceedings
  • Trading members must ensure compliance with applicable surveillance framework restrictions

Important Dates

  • Effective Date: October 27, 2025 - Goenka Diamond & Jewels Ltd moves to Stage 1 surveillance
  • Circular Issue Date: October 24, 2025

Impact Assessment

Market Impact: Medium - The addition of one security to Stage 1 surveillance indicates ongoing insolvency proceedings that may affect investor confidence and trading activity in the affected security.

Operational Impact: Trading in Goenka Diamond & Jewels Ltd will be subject to additional surveillance measures, potentially including price bands, trading limits, or enhanced disclosure requirements.

Investor Risk: Securities under IBC surveillance carry elevated risk due to ongoing insolvency proceedings. The consolidated list provides transparency on all affected securities, enabling informed investment decisions.

Impact Justification

Affects trading surveillance for securities under insolvency proceedings. One security moved to Stage 1 surveillance, indicating increased monitoring requirements.