Description

BSE updates surveillance measures for securities under Insolvency and Bankruptcy Code, adding Alka India Ltd to Stage 1 additional surveillance effective February 6, 2026.

Summary

BSE has updated its Additional Surveillance Measure (ASM) framework for companies under the Insolvency and Bankruptcy Code (IBC). Effective February 6, 2026, Alka India Ltd (Scrip Code: 530889, ISIN: INE061B01038) has been added to Stage 1 surveillance for companies in Insolvency Resolution Process. No securities were moved between stages or excluded from surveillance during this update.

Key Points

  • Alka India Ltd added to Stage 1 Additional Surveillance Measure under IBC framework
  • Effective date: February 6, 2026
  • No securities added to Stage 0 (Receipt of corporate announcement/disclosure)
  • No securities moved from Stage 1 to Stage 2 or vice versa
  • No securities excluded from ASM framework
  • Consolidated list includes 14+ securities under various IBC surveillance stages

Regulatory Changes

The surveillance framework operates in multiple stages:

  • Stage 0: Receipt of corporate announcement/disclosure from company regarding insolvency
  • Stage 1: Additional Surveillance Measure for companies in Insolvency Resolution Process (IRP)
  • Stage 2: Enhanced surveillance with stricter trading restrictions

Alka India Ltd has been newly classified under Stage 1, indicating the company is undergoing Insolvency Resolution Process under IBC.

Compliance Requirements

  • Trading members must be aware of enhanced surveillance on Alka India Ltd
  • Securities under IBC surveillance may have additional margin requirements
  • Price-to-price delivery-based settlement may apply
  • Market participants should exercise caution when trading securities under ASM-IBC framework
  • T+0 scrips marked with “~” are shortlisted based on parent company IBC status
  • Recommencement scrips marked with “^”

Important Dates

  • Effective Date: February 6, 2026 - Alka India Ltd enters Stage 1 surveillance
  • Circular Date: February 5, 2026

Impact Assessment

Trading Impact: High - Alka India Ltd will face additional trading restrictions and scrutiny. Investors may experience reduced liquidity, higher margin requirements, and potential price volatility.

Market Participants: Brokers and traders dealing in Alka India Ltd must update risk management systems and inform clients about enhanced surveillance measures.

Investor Risk: Elevated risk profile for Alka India Ltd due to insolvency proceedings. The Stage 1 classification signals ongoing resolution process under IBC, which may result in restructuring, liquidation, or other material changes to the company.

Broader Market: The consolidated list shows 14+ securities remain under IBC surveillance framework, reflecting ongoing stress in certain segments of the market. Securities include companies from various sectors undergoing insolvency proceedings at different stages.

Impact Justification

High severity due to insolvency proceedings and additional surveillance restrictions. Direct trading impact on Alka India Ltd with heightened scrutiny under IBC framework.