Description

BSE updates surveillance measures for companies under Insolvency and Bankruptcy Code (IBC), with Silveroak Commercials Ltd moving to Stage 1 Additional Surveillance Measure.

Summary

BSE has updated its Additional Surveillance Measure (ASM) framework for companies undergoing Insolvency Resolution Process (IRP) under the Insolvency and Bankruptcy Code (IBC), effective January 29, 2026. One security, Silveroak Commercials Ltd (Scrip Code: 512197, ISIN: INE798C01017), has been newly shortlisted in Stage 1 surveillance. No securities are moving between stages or being excluded from surveillance at this time.

Key Points

  • Silveroak Commercials Ltd added to Stage 1 ASM under IBC framework
  • No securities added to Stage 0 (receipt of corporate announcement/disclosure)
  • No securities moving from Stage 1 to Stage 2 or vice versa
  • No securities excluded from IBC surveillance framework
  • Consolidated list includes 14+ securities across various IBC stages (Stage 0 and Stage 1)
  • Framework includes special designations for T+0 scrips and recommencement scrips

Regulatory Changes

The surveillance framework categorizes companies based on their IBC status:

  • Stage 0: Receipt of corporate announcement/disclosure from the company
  • Stage 1: Companies in Additional Surveillance Measure for IRP under IBC
  • Stage 2: Enhanced surveillance level for IBC companies

Special markers include:

  • (~) T+0 Scrips shortlisted in IBC Framework as per parent company
  • (^) Recommencement Scrips
  • (*) Securities as per NSE alignment

Compliance Requirements

  • Trading members should note the surveillance status of affected securities
  • Enhanced monitoring and risk management required for securities under IBC surveillance
  • Investors should exercise caution when trading in securities under IBC framework
  • Brokers must ensure appropriate disclosure to clients regarding surveillance status

Important Dates

  • Effective Date: January 29, 2026
  • Circular Issue Date: January 28, 2026

Impact Assessment

Market Impact: Limited immediate market impact as only one security is being added to Stage 1 surveillance. The consolidated list provides transparency on all securities under IBC-related surveillance.

Trading Impact: Silveroak Commercials Ltd will be subject to enhanced surveillance measures under Stage 1, which may include trading restrictions, additional margin requirements, or periodic call auctions.

Investor Impact: Investors holding or considering trading in Silveroak Commercials Ltd should be aware of the company’s IBC status and associated risks. The consolidated list serves as a reference for investors to identify all companies under insolvency proceedings.

Consolidated List Summary

Notable companies under IBC surveillance include:

  • A.F. Enterprises Ltd (Stage 0)
  • Aanchal Ispat Ltd (Stage 1 - Recommencement)
  • Aban Offshore Ltd (Stage 0)
  • AGS Transact Technologies Ltd (Stage 0)
  • Alchemist Ltd (Stage 0)
  • Ansal Properties & Infrastructure Ltd (Stage 0)
  • Arshiya Limited (Stage 0)
  • Axis Solutions Ltd (Stage 1)
  • Baron Infotech Ltd (Stage 0)
  • And several others listed in Annexure III

Impact Justification

Routine surveillance update affecting one security moving to Stage 1 IBC surveillance. Consolidated list shows 14+ companies under various IBC stages for investor awareness.