Description

BSE notice detailing surveillance measures applicable to securities of companies undergoing insolvency proceedings under the Insolvency and Bankruptcy Code (IBC). Includes updated annexures listing affected securities.

Summary

BSE has issued Notice No. 20260513-25 dated 13 May 2026 regarding surveillance measures applicable to securities of companies that are currently under proceedings of the Insolvency and Bankruptcy Code (IBC). The notice is issued by the Department of Surveillance & Supervision (DOSS) and is accompanied by annexures listing the specific securities subject to these measures.

Key Points

  • BSE has updated the list of securities subject to special surveillance measures due to their companies being under IBC proceedings.
  • The notice covers equity segment securities.
  • Detailed annexures (ANNEXURES_IBC) are attached listing all affected securities.
  • The circular is issued under the Trading category by the DOSS department.
  • Investors and trading members should refer to the annexures for the full list of impacted securities.

Regulatory Changes

BSE periodically updates the surveillance framework for securities of companies admitted under the Insolvency and Bankruptcy Code. This notice reflects the latest revision to the list of securities under IBC-related surveillance, which may include additions, removals, or reclassifications of securities based on the current status of insolvency proceedings.

Compliance Requirements

  • Trading members must take note of the securities listed in the attached annexures and apply applicable surveillance-related trading conditions.
  • Investors holding or intending to trade in these securities should be aware of any trade-to-trade settlement or other restrictions that may apply.
  • Members should disseminate this information to their clients as appropriate.

Important Dates

  • Notice Date: 13 May 2026
  • Effective date and specific applicability details are contained in the attached ANNEXURES_IBC; members should refer to the PDF for precise timelines.

Impact Assessment

Securities placed under IBC surveillance measures typically face enhanced monitoring, possible trade-to-trade settlement requirements, and heightened scrutiny. This impacts liquidity for the affected stocks and increases risk for investors. Companies under IBC are in various stages of insolvency resolution, making their securities inherently high-risk. Market participants should exercise caution when dealing in these securities and consult the full annexure list to identify specific affected tickers.

Impact Justification

Surveillance measures under IBC directly restrict trading in affected securities, impacting investors and market participants holding positions in companies under insolvency proceedings.