Description
NSE implements Additional Surveillance Measure for companies under Insolvency and Bankruptcy Code, adding one security and excluding one security from surveillance.
Summary
NSE has updated the Additional Surveillance Measure (ASM) framework for companies under the Insolvency and Bankruptcy Code (IBC). One security (Aban Offshore Limited) has been added to the surveillance list due to corporate announcements/disclosures, while one security (ARSS Infrastructure Projects Limited) has been excluded from ASM IBC surveillance.
Key Points
- Aban Offshore Limited (ABAN) added to ASM IBC for corporate announcement/disclosure criteria
- ARSS Infrastructure Projects Limited (ARSSINFRA) excluded from ASM IBC framework
- No securities moved between Stage I and Stage II of ASM IBC
- ASM IBC framework operates in conjunction with other surveillance measures
- Surveillance action is purely market-based and not adverse against companies
Regulatory Changes
Updated ASM IBC framework based on:
- Exchange Circular NSE/SURV/37979 dated June 08, 2018
- Exchange Circular NSE/SURV/52368 dated May 20, 2022
- Exchange Circular NSE/SURV/55582 dated February 10, 2023
Compliance Requirements
- NSE members must note the securities subject to ASM IBC measures
- Market participants should be aware of surveillance framework applicability
- Queries to be directed to surveillance@nse.co.in
Important Dates
- Effective Date: September 04, 2025
- Circular Date: September 03, 2025
Impact Assessment
Limited market impact as only two securities are affected - one addition and one exclusion from surveillance measures. The consolidated ASM IBC list continues to include Eastern Silk Industries Limited, Jaiprakash Associates Limited, Lakshmi Precision Screws Limited, and others in Stage I surveillance.
Impact Justification
Routine surveillance measure affecting specific securities under IBC framework with limited market impact