Description

BSE updates surveillance measures for securities under Insolvency and Bankruptcy Code (IBC), with Seya Industries Ltd moving to Stage 1 effective November 7, 2025.

Summary

BSE has updated its surveillance measures for securities under the Insolvency and Bankruptcy Code (IBC) framework effective November 7, 2025. One security, Seya Industries Ltd (Scrip Code: 524324, ISIN: INE573R01012), has been shortlisted in Additional Surveillance Measure (ASM) Stage 1 for companies relating to Insolvency Resolution Process (IRP). No securities moved to Stage 0, between stages, or were excluded from surveillance.

Key Points

  • Seya Industries Ltd (524324) enters IBC Stage 1 surveillance effective November 7, 2025
  • No securities shortlisted in Stage 0 (Receipt of corporate announcement/disclosure)
  • No securities moved from Stage I to Stage II or vice versa
  • No securities excluded from ASM for IBC framework
  • Consolidated list contains 13 securities under various IBC surveillance stages
  • Framework includes special markers for T+0 scrips (~) and recommencement scrips (^)

Regulatory Changes

No new regulatory changes introduced. This circular implements existing IBC surveillance framework by updating the list of securities under different stages of surveillance based on insolvency proceedings.

Compliance Requirements

  • Trading members and market participants must note the surveillance stage classification for affected securities
  • Enhanced monitoring and disclosure requirements apply to securities under IBC surveillance
  • Market participants should be aware of increased risk associated with Stage 1 securities undergoing Insolvency Resolution Process

Important Dates

  • Effective Date: November 7, 2025 - New surveillance classifications come into effect

Impact Assessment

Market Impact: Limited to one security entering Stage 1 surveillance. Seya Industries Ltd will face enhanced surveillance measures which may affect trading volumes and liquidity.

Investor Impact: Investors in Seya Industries Ltd should note the company is now under IBC Stage 1 surveillance due to insolvency resolution proceedings, indicating elevated financial distress risk.

Trading Impact: The surveillance designation may result in additional trading restrictions, price bands, or settlement requirements for the affected security.

Additional Information

Consolidated List Summary

The circular maintains a consolidated list of 13 securities under IBC surveillance, including:

  • A.F. Enterprises Ltd
  • Aban Offshore Ltd
  • AGS Transact Technologies Ltd
  • Alchemist Ltd
  • Alps Industries Ltd
  • Ambition Mica Limited
  • Ankit Metal & Power Ltd
  • Ansal Properties & Infrastructure Ltd
  • Arshiya Limited
  • Axis Solutions Ltd (Stage 1)
  • Baron Infotech Ltd
  • Birla Cotsyn (India) Ltd
  • Bloom Dekor Ltd

Most securities remain in Stage 0 (Receipt of corporate announcement/disclosure), with only Axis Solutions Ltd and now Seya Industries Ltd in Stage 1.

Impact Justification

Routine surveillance update affecting one security (Seya Industries) moving to IBC Stage 1, indicating heightened monitoring due to insolvency proceedings. Limited broader market impact but significant for affected security.