Description
NSE updates surveillance measures for securities under Insolvency and Bankruptcy Code with Jaiprakash Associates Limited added to Stage I monitoring.
Summary
NSE has updated the Additional Surveillance Measure (ASM) for companies under the Insolvency and Bankruptcy Code (IBC) effective August 13, 2025. Jaiprakash Associates Limited has been newly added to Stage I monitoring, while no securities were excluded from the framework.
Key Points
- Jaiprakash Associates Limited (JPASSOCIAT) added to ASM IBC Stage I effective August 13, 2025
- No securities moved between stages or were excluded from surveillance
- ASM IBC framework operates in conjunction with other prevailing surveillance measures
- Shortlisting is purely for market surveillance and not an adverse action against companies
Regulatory Changes
No changes to the existing ASM IBC framework. The circular implements routine updates based on surveillance criteria being met by specific securities.
Compliance Requirements
- Market participants must note the updated surveillance status of listed securities
- Trading in affected securities subject to ASM IBC provisions
- Continued monitoring of corporate announcements and disclosures
Important Dates
- Effective Date: August 13, 2025 - New surveillance measures take effect
- Circular Date: August 12, 2025
Impact Assessment
Limited market impact as only one security (Jaiprakash Associates) newly added to Stage I surveillance. The consolidated list shows 5 securities remain under various stages of IBC monitoring. This represents routine surveillance activity rather than significant regulatory change.
Impact Justification
Routine surveillance update affecting specific securities under IBC framework