Description

BSE updates surveillance measures for companies under Insolvency and Bankruptcy Code (IBC), with Tiaan Consumer Ltd added to Stage 1 effective December 2, 2025.

Summary

BSE has updated its surveillance measures for securities under the Insolvency and Bankruptcy Code (IBC) framework effective December 2, 2025. Tiaan Consumer Ltd (Scrip Code: 540108, ISIN: INE864T01011) has been shortlisted in Additional Surveillance Measure Stage 1 for companies relating to Insolvency Resolution Process (IRP). No securities are moving to Stage 0, Stage II, or being excluded from the framework in this update.

Key Points

  • Tiaan Consumer Ltd added to IBC Stage 1 surveillance effective December 2, 2025
  • No securities moving to Stage 0 (Receipt of corporate announcement/disclosure)
  • No securities transitioning between Stage I and Stage II
  • No securities being excluded from ASM for IBC
  • Consolidated list includes 14+ securities across different IBC stages
  • Framework includes special markings for T+0 scrips (~) and recommencement scrips (^)

Regulatory Changes

The IBC surveillance framework continues with its staged approach:

  • Stage 0: Receipt of corporate announcement/disclosure from company
  • Stage 1: Additional Surveillance Measure for companies in Insolvency Resolution Process
  • Stage 2: Enhanced surveillance for companies under IBC

Securities in these stages face specific trading restrictions and surveillance measures based on their insolvency status.

Compliance Requirements

  • Trading members must be aware of securities under IBC surveillance framework
  • Enhanced due diligence required for securities in ASM stages
  • Investors should exercise caution when trading securities under IBC surveillance
  • Market participants must comply with applicable trading restrictions for each stage

Important Dates

  • Effective Date: December 2, 2025 - Tiaan Consumer Ltd enters IBC Stage 1 surveillance
  • Circular Date: December 1, 2025

Impact Assessment

Market Impact: Medium - The addition of one security to IBC Stage 1 has limited immediate market-wide impact but significantly affects Tiaan Consumer Ltd shareholders and traders.

Trading Impact: Securities under IBC surveillance typically experience:

  • Reduced liquidity
  • Increased price volatility monitoring
  • Additional disclosure requirements
  • Potential trading restrictions depending on stage

Investor Impact: Investors holding Tiaan Consumer Ltd should be aware of the company’s insolvency resolution process status and associated trading restrictions. The consolidated list shows multiple securities remain under various IBC stages, indicating ongoing surveillance of financially distressed companies.

Securities Currently Under IBC Surveillance

The consolidated list includes securities at various stages, including:

  • A.F. Enterprises Ltd (Stage 1)
  • Aban Offshore Ltd (Stage 0)
  • AGS Transact Technologies Ltd (Stage 0)
  • Alchemist Ltd (Stage 0)
  • Ambition Mica Limited (Stage 0)
  • Ankit Metal & Power Ltd (Stage 0)
  • Ansal Properties & Infrastructure Ltd (Stage 0)
  • Arshiya Limited (Stage 0)
  • Multiple other securities across different stages

Impact Justification

Affects one security moving into IBC Stage 1 surveillance framework, impacting trading conditions for Tiaan Consumer Ltd with moderate market implications