Description

NSE circular updating securities under Additional Surveillance Measure for companies under Insolvency and Bankruptcy Code, with 7 securities moving to exclusion criteria.

Summary

NSE has issued an update on Additional Surveillance Measure (ASM) for companies under Insolvency and Bankruptcy Code (IBC) effective September 1, 2025. No new securities are being added to ASM IBC, while 7 securities have satisfied exclusion criteria and are moving to “Receipt of corporate announcement/disclosure” category, indicating improved compliance status.

Key Points

  • No securities are being newly shortlisted under ASM IBC Stage I or moving between stages
  • 7 securities (Arshiya Limited, Compuage Infocom Limited, Future Lifestyle Fashions Limited, Future Supply Chain Solutions Limited, Gensol Engineering Limited, Sanco Industries Limited, Swan Defence and Heavy Industries Limited) are moving to exclusion criteria
  • ASM IBC framework operates in conjunction with all other prevailing surveillance measures
  • Shortlisting under ASM IBC is purely for market surveillance and not construed as adverse action

Regulatory Changes

Update to existing ASM IBC framework with securities moving out of surveillance measures rather than being added, reflecting improved corporate governance and compliance status for the affected companies.

Compliance Requirements

  • Market participants must note the updated surveillance status of securities
  • Trading members should be aware of surveillance measures applicable to these securities
  • Companies must continue compliance with IBC-related disclosure requirements

Important Dates

  • Effective Date: September 1, 2025 - Updated ASM IBC measures come into effect
  • Circular Date: August 29, 2025

Impact Assessment

Positive impact as 7 securities are being excluded from enhanced surveillance, indicating improved corporate health and compliance. No additional trading restrictions are being imposed, suggesting stable market conditions for IBC-related surveillance measures.

Impact Justification

Routine surveillance measure update with no securities being added to ASM IBC, only exclusions, indicating improving corporate health for affected companies