Description
BSE updates Additional Surveillance Measure (ASM) for companies under Insolvency and Bankruptcy Code (IBC), adding Aanchal Ispat Ltd to Stage 1 effective December 29, 2025.
Summary
BSE has issued an update to its Additional Surveillance Measure (ASM) framework for securities of companies undergoing Insolvency Resolution Process (IRP) under the Insolvency and Bankruptcy Code (IBC). Effective December 29, 2025, one security - Aanchal Ispat Ltd (Scrip Code: 538812, ISIN: INE322R01022) - has been added to Stage 1 of the IBC surveillance framework. No securities are being excluded, moved between stages, or added to Stage 0.
Key Points
- Aanchal Ispat Ltd added to IBC Stage 1 surveillance effective December 29, 2025
- No securities moved from Stage 1 to Stage 2 or vice versa
- No securities excluded from ASM framework this period
- Consolidated list includes 15 securities across various IBC stages (Stage 0 and Stage 1)
- Framework applies to companies under insolvency resolution process per IBC regulations
Regulatory Changes
No changes to the surveillance framework itself. This is a routine update of securities classified under the existing IBC-based Additional Surveillance Measure framework.
Compliance Requirements
- Market participants should note the surveillance classification for Aanchal Ispat Ltd
- Trading in Stage 1 securities subject to enhanced surveillance parameters
- Investors and brokers must comply with applicable trading restrictions and margin requirements for securities under IBC surveillance
- Securities marked with special symbols: (~) for T+0 scrips shortlisted in IBC framework as per parent company, (^) for recommencement scrips, (*) as per NSE
Important Dates
- December 29, 2025: Effective date for Aanchal Ispat Ltd addition to Stage 1
- December 26, 2025: Circular issuance date
Impact Assessment
Market Impact: Limited - affects one security entering enhanced surveillance. Investors in Aanchal Ispat Ltd will face increased scrutiny and potentially stricter trading conditions.
Operational Impact: Market participants trading in affected security must ensure compliance with IBC surveillance requirements including enhanced margin requirements and trading restrictions applicable to Stage 1 securities.
Consolidated Securities Under IBC Surveillance: The annexure shows 15 securities across different stages including major names like Aban Offshore Ltd, Alchemist Ltd, Ansal Properties & Infrastructure Ltd, and others at Stage 0 (corporate announcement received) and Stage 1 (IRP initiation).
Securities Added to IBC Surveillance
| Scrip Code | ISIN | Security Name | Stage |
|---|---|---|---|
| 538812 | INE322R01022 | Aanchal Ispat Ltd^ | Stage 1 |
Impact Justification
Routine surveillance update affecting one security entering IBC Stage 1. Limited immediate market impact but important for investors in affected securities and those monitoring insolvency proceedings.