Description

BSE circular updating the list of securities under Additional Surveillance Measure for companies in Insolvency Resolution Process as per Insolvency and Bankruptcy Code, effective January 30, 2026.

Summary

BSE has issued an update to the surveillance framework for securities of companies undergoing Insolvency Resolution Process (IRP) under the Insolvency and Bankruptcy Code (IBC). The circular adds Alka India Ltd to Stage 0 surveillance and provides consolidated lists of all securities currently under various IBC surveillance stages.

Key Points

  • Alka India Ltd (Scrip Code: 530889, ISIN: INE061B01038) added to Stage 0 surveillance effective January 30, 2026
  • Stage 0 represents “Receipt of corporate announcement/disclosure from the company” regarding insolvency proceedings
  • No securities moved to Stage 1 surveillance
  • No securities transitioned between Stage I and Stage II
  • No securities excluded from IBC surveillance framework
  • Consolidated list includes 14+ companies across different IBC surveillance stages

Regulatory Changes

The surveillance framework operates in stages:

  • Stage 0: Companies that have announced/disclosed insolvency proceedings
  • Stage 1: Companies in Additional Surveillance Measure under IBC
  • Stage 2: Enhanced surveillance for companies in advanced insolvency stages

Companies can move between stages based on developments in their insolvency proceedings.

Compliance Requirements

  • Trading members and investors should be aware of securities under IBC surveillance
  • Enhanced due diligence required for trading in these securities
  • Securities marked with special symbols: (~) for T+0 scrips, (^) for recommencement scrips, (*) as per NSE

Important Dates

  • Effective Date: January 30, 2026
  • Circular Date: January 29, 2026

Impact Assessment

This is a routine surveillance update with limited immediate market impact. The addition of Alka India Ltd to Stage 0 surveillance indicates the company has made disclosures regarding insolvency proceedings. Investors holding these securities should monitor developments closely as IBC proceedings can significantly affect stock valuations and trading liquidity. The surveillance framework helps maintain market integrity by flagging securities of companies undergoing financial distress.

Impact Justification

Routine surveillance update affecting companies under insolvency proceedings. Alka India Ltd moved to Stage 0 surveillance framework. Limited immediate market impact but important for investors in affected securities.