Description
NSE implements Additional Surveillance Measure under ICA for Sadbhav Engineering Limited effective August 22, 2025.
Summary
NSE has implemented Additional Surveillance Measure (ASM) under Inter Creditor Agreement (ICA) framework for Sadbhav Engineering Limited (SADBHAV) effective August 22, 2025. The security has been placed in Stage I of ASM-ICA.
Key Points
- Sadbhav Engineering Limited (SADBHAV, ISIN: INE226H01026) shortlisted in ASM-ICA Stage I
- No securities moved between stages or excluded from ASM-ICA
- ASM-ICA framework operates in conjunction with other surveillance measures
- Shortlisting is for market surveillance purposes and not an adverse action against the company
Regulatory Changes
Implementation of Additional Surveillance Measure under Inter Creditor Agreement framework as per Exchange Circular references NSE/SURV/37979 dated June 08, 2018, NSE/SURV/42218 dated September 24, 2019 and NSE/SURV/52368 dated May 20, 2022.
Compliance Requirements
- Market participants must note that ASM-ICA framework applies alongside all other prevailing surveillance measures
- Members should be aware of the surveillance status when trading in affected securities
Important Dates
- Effective Date: August 22, 2025 - ASM-ICA applicable for Sadbhav Engineering Limited
- Circular Date: August 21, 2025
Impact Assessment
Limited market impact as only one security (SADBHAV) is affected. The measure is implemented for surveillance purposes and should not be construed as adverse action against the company. Trading in the security will continue under enhanced surveillance framework.
Impact Justification
Single stock affected by surveillance measure under ICA framework