Description

BSE adds Bil Vyapar Ltd to Stage 0 surveillance under IBC framework effective November 25, 2025, following receipt of corporate announcement regarding insolvency proceedings.

Summary

BSE has updated its surveillance framework for securities under the Insolvency and Bankruptcy Code (IBC). Effective November 25, 2025, Bil Vyapar Ltd (Scrip Code: 500059, ISIN: INE071A01013) has been added to Stage 0 surveillance following receipt of corporate announcement/disclosure regarding insolvency proceedings. No securities are being moved to Stage 1, from Stage 1 to Stage 2, or being excluded from IBC surveillance.

Key Points

  • Bil Vyapar Ltd shortlisted in Stage 0 (Receipt of corporate announcement/disclosure) effective November 25, 2025
  • Scrip Code: 500059, ISIN: INE071A01013
  • No securities moved to Stage 1 (Additional Surveillance Measure for IRP)
  • No securities moved from Stage 1 to Stage 2 or Stage 2 to Stage 1
  • No securities excluded from IBC surveillance framework
  • Consolidated list includes 14+ securities already under various IBC surveillance stages

Regulatory Changes

This circular implements the Additional Surveillance Measure (ASM) framework for companies undergoing Insolvency Resolution Process (IRP) under the Insolvency and Bankruptcy Code. The framework has multiple stages:

  • Stage 0: Receipt of corporate announcement/disclosure from the company
  • Stage 1: Additional Surveillance Measure for Companies relating to IRP
  • Stage 2: Enhanced surveillance measures

The surveillance framework applies to securities of companies that have disclosed insolvency proceedings or are undergoing resolution processes.

Compliance Requirements

  • Trading members must be aware of securities under IBC surveillance
  • Enhanced due diligence required for transactions in affected securities
  • Investors should exercise caution when trading securities under IBC surveillance stages
  • Companies must provide timely disclosures regarding insolvency proceedings

Important Dates

  • Effective Date: November 25, 2025 - Bil Vyapar Ltd added to Stage 0 surveillance

Impact Assessment

Market Impact: Limited immediate market-wide impact as only one security is being newly added to surveillance. However, for Bil Vyapar Ltd specifically, inclusion in IBC surveillance Stage 0 signals financial distress and may result in reduced liquidity and heightened volatility.

Trading Impact: Securities under IBC surveillance typically experience:

  • Reduced trading volumes
  • Wider bid-ask spreads
  • Increased price volatility
  • Potential additional trading restrictions if moved to higher surveillance stages

Investor Impact: Investors holding Bil Vyapar Ltd should monitor developments closely as Stage 0 is the initial surveillance level that may progress to more restrictive stages if insolvency proceedings advance. The consolidated list shows 14+ securities already under various IBC surveillance stages, indicating ongoing monitoring of financially distressed companies across the market.

Impact Justification

Adds one company to IBC surveillance Stage 0, indicating initiation of insolvency monitoring. Limited immediate market impact but signals financial distress for affected security.