Description

BSE places additional securities under the Additional Surveillance Measure (ASM) framework for companies under Inter Creditor Agreement (ICA), effective April 10, 2026.

Summary

BSE has notified that certain securities (listed in Annexure I) have met the criteria for Additional Surveillance Measure (ASM) applicable to companies under the Inter Creditor Agreement (ICA) framework, effective April 10, 2026. This is issued in reference to Exchange Notice No. 20220520-52 dated May 20, 2022.

Key Points

  • Securities listed in Annexure I are placed under ASM-ICA framework with effect from April 10, 2026.
  • The consolidated list of all securities currently under the framework is provided in Annexure III.
  • Securities under this framework will be reviewed periodically.
  • ASM-ICA measures operate in conjunction with all other prevailing surveillance measures imposed by the exchanges.
  • Placement under this framework is purely for market surveillance purposes and should not be construed as an adverse action against the concerned company or entity.

Regulatory Changes

No new regulatory framework has been introduced. This notice is an update under the existing ASM-ICA framework established via Notice No. 20220520-52 dated May 20, 2022.

Compliance Requirements

  • Market participants and members must take note of the securities placed under the ASM-ICA framework.
  • Trading in the listed securities will be subject to additional surveillance conditions as per the framework.
  • Members with clarifications may contact BSE Surveillance at bse.surv@bseindia.com.

Important Dates

  • Notice Date: April 9, 2026
  • Effective Date: April 10, 2026

Impact Assessment

Securities added to the ASM-ICA list will be subject to enhanced surveillance measures, which may include trade-to-trade settlement or other restrictions. This impacts liquidity and trading conditions for the affected securities. The measure is periodic and reviewed regularly, so securities may be removed upon satisfying exit criteria. Market participants holding or trading in the listed securities should review Annexure I for the specific tickers affected.

Impact Justification

Routine periodic update placing select securities under ASM-ICA framework; affects specific securities listed in annexure but is a standard surveillance action, not an adverse regulatory finding.