Description

BSE updates the Additional Surveillance Measure (ASM) list for companies under the Insolvency and Bankruptcy Code (IBC), adding Eastern Silk Industries Ltd to Stage 1 effective February 27, 2026. The consolidated list covers multiple companies at various IBC resolution stages.

Summary

BSE has issued its periodic update to the Additional Surveillance Measure (ASM) framework for companies undergoing proceedings under the Insolvency and Bankruptcy Code (IBC). Effective February 27, 2026, Eastern Silk Industries Ltd (Scrip Code: 590022, ISIN: INE962C01035) is newly added to Stage 1 of the IBC surveillance framework. No securities are being moved between stages or excluded from the framework in this update. A consolidated list of all securities currently under IBC surveillance is provided in Annexure III.

Key Points

  • New Stage 1 addition: Eastern Silk Industries Ltd (590022 / INE962C01035) enters IBC Stage 1 effective February 27, 2026 (as per NSE).
  • Stage 0 (new entries): Nil — no securities newly shortlisted for receipt of corporate announcement / disclosure.
  • Stage I to Stage II promotions: Nil.
  • Stage II to Stage I reversions: Nil.
  • Exclusions from ASM-IBC: Nil — no securities are being removed from the framework.
  • The consolidated list (Annexure III) covers a wide range of companies at Stage 0 (receipt of corporate announcement) and Stage 1 of the IBC resolution process.
  • Securities marked * are per NSE; securities marked ^ are recommencement scrips; securities marked ~ are T+0 scrips shortlisted under the IBC Framework as per parent company.

Regulatory Changes

This circular operates under BSE’s existing IBC-ASM framework, which imposes additional surveillance and trading restrictions on listed securities of companies admitted under the Insolvency and Bankruptcy Code. No new regulatory rules are introduced; this is a routine periodic revision of the monitored securities list.

Compliance Requirements

  • Brokers and trading members must note the updated IBC surveillance list and apply applicable trading restrictions (e.g., trade-to-trade settlement, margin requirements) for newly added or stage-changed securities from February 27, 2026.
  • Investors holding securities in the IBC framework should be aware of enhanced surveillance, potential trading restrictions, and the insolvency resolution status of the respective companies.
  • The framework applies to trading on BSE; members should cross-reference NSE notifications where scrips are marked * (as per NSE).

Important Dates

  • Effective Date: February 27, 2026 — all changes in Annexures I and II take effect.
  • Circular Date: February 26, 2026.

Impact Assessment

The impact of this circular is medium and targeted. Only one security (Eastern Silk Industries Ltd) is newly placed under enhanced IBC surveillance at Stage 1. Investors and traders in this scrip will face additional restrictions such as trade-to-trade settlement and heightened margin requirements. The broader consolidated list (Annexure III) confirms the ongoing monitoring of numerous companies under IBC proceedings — including notable names such as Aban Offshore, Ansal Properties & Infrastructure, Arshiya Limited, AGS Transact Technologies, Ankit Metal & Power, and others — but these represent no new changes in this update. Overall market impact is low; the primary concern is for retail and institutional holders of IBC-listed scrips who must monitor settlement category changes and liquidity constraints.

Impact Justification

Affects a defined set of securities under IBC proceedings with trading restrictions; primary new change is addition of Eastern Silk Industries to Stage 1. No broad market impact, but material for holders of listed IBC stocks.