Description

Updates to Additional Surveillance Measure for companies under Insolvency and Bankruptcy Code (IBC), with Gensol Engineering Ltd added to Stage 1 effective February 02, 2026.

Summary

BSE has updated the Additional Surveillance Measure (ASM) for companies under the Insolvency Resolution Process (IRP) as per the Insolvency and Bankruptcy Code (IBC). Gensol Engineering Ltd (Scrip Code: 542851, ISIN: INE06H201014) has been added to Stage 1 of the IBC surveillance framework effective February 02, 2026. No securities are being moved to Stage 0, transitioned between stages, or excluded from the framework.

Key Points

  • Gensol Engineering Ltd added to IBC Stage 1 surveillance effective February 02, 2026
  • No securities shortlisted for Stage 0 (receipt of corporate announcement/disclosure)
  • No securities moving from Stage I to Stage II or vice versa
  • No securities being excluded from ASM for IBC
  • Consolidated list includes 13+ securities already under various stages of IBC surveillance, including companies like Aban Offshore Ltd, Alchemist Ltd, Ansal Properties & Infrastructure Ltd, and Arshiya Limited

Regulatory Changes

The circular implements the Additional Surveillance Measure framework for companies undergoing insolvency proceedings. 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 as per IBC
  • Stage 2: Enhanced surveillance for companies in advanced stages of insolvency

Compliance Requirements

  • Securities under IBC surveillance are subject to additional monitoring and restrictions
  • Market participants should be aware of the surveillance status when trading these securities
  • Companies under IBC stages must comply with disclosure requirements and corporate announcement obligations
  • T+0 scrips shortlisted in IBC Framework are marked with (~) symbol
  • Recommencement scrips are marked with (^) symbol

Important Dates

  • Effective Date: February 02, 2026 - Gensol Engineering Ltd added to Stage 1 surveillance
  • Circular Date: February 01, 2026

Impact Assessment

The addition of Gensol Engineering Ltd to Stage 1 surveillance indicates the company is undergoing insolvency resolution proceedings. This will likely impact:

  • Trading activity and liquidity in the security
  • Investor sentiment and risk perception
  • Potential restrictions on trading mechanisms
  • Enhanced disclosure requirements for the company

The consolidated list shows multiple securities remain under various stages of IBC surveillance, reflecting ongoing insolvency cases in the market. Market participants should exercise caution when dealing with securities under the IBC surveillance framework.

Impact Justification

Addition of one security to IBC Stage 1 surveillance with no exclusions or stage transitions. Affects trading and investor awareness for Gensol Engineering Ltd.