Description

NSE circular on Additional Surveillance Measures for companies under Insolvency and Bankruptcy Code, with one security being excluded from ASM.

Summary

NSE has issued a circular regarding Additional Surveillance Measures (ASM) for companies under the Insolvency and Bankruptcy Code (IBC). The circular provides updates on securities moving between different ASM stages and excludes Jalan Transolutions (India) Limited from ASM effective September 8, 2025.

Key Points

  • One security (JALAN) to be excluded from ASM under IBC effective September 8, 2025
  • No new securities added to ASM categories in this update
  • Consolidated list maintains 17 securities under various ASM stages for IBC companies
  • 6 securities remain in Stage I ASM
  • 11 securities under “Receipt of corporate announcement/disclosure” category

Regulatory Changes

  • Jalan Transolutions (India) Limited (JALAN) - INE349X01015 will be excluded from ASM for Companies as per IBC
  • No securities moving between different ASM stages in this update
  • No new securities being added to any ASM category

Compliance Requirements

  • Trading members and market participants must note the exclusion of JALAN from ASM measures
  • Continued compliance required for remaining 17 securities under ASM for IBC companies
  • Monitor corporate announcements and disclosures for companies in the surveillance framework

Important Dates

  • September 8, 2025: Effective date for exclusion of JALAN from ASM under IBC

Impact Assessment

  • Market Impact: Medium - affects trading conditions for one security being excluded from surveillance
  • Operational Impact: Low - routine surveillance measure update with minimal changes
  • Compliance Impact: Medium - requires tracking of surveillance status changes for affected securities
  • Investor Impact: Positive for JALAN shareholders as security moves out of enhanced surveillance

Impact Justification

Affects multiple securities under IBC surveillance measures with one exclusion