Description

NSE updates Additional Surveillance Measure for companies under Insolvency and Bankruptcy Code (IBC), adding Sab Events & Governance Now Media Limited to surveillance framework effective November 13, 2025.

Summary

NSE has updated the Additional Surveillance Measure (ASM) framework for companies under the Insolvency and Bankruptcy Code (IBC). Effective November 13, 2025, Sab Events & Governance Now Media Limited (Symbol: SABEVENTS, ISIN: INE860T01019) has been shortlisted based on receipt of corporate announcement/disclosure from the company. This circular references previous circulars dated June 08, 2018, May 20, 2022, February 10, 2023, and September 05, 2025 establishing the ASM IBC framework.

Key Points

  • One security (SABEVENTS) shortlisted under ASM IBC framework based on corporate announcement/disclosure
  • No securities moved to Stage I of ASM IBC
  • No securities moved from Stage I to Stage II
  • No securities moved from Stage II to Stage I
  • No securities excluded from ASM IBC framework
  • ASM IBC framework operates in conjunction with all other prevailing surveillance measures
  • Shortlisting is purely for market surveillance purposes and not an adverse action against the company

Regulatory Changes

No changes to the ASM IBC framework itself. This circular implements the existing framework by identifying securities that meet the criteria for inclusion or exclusion as of November 13, 2025.

Compliance Requirements

  • Market participants must note the surveillance status of SABEVENTS effective November 13, 2025
  • Members should be aware that ASM IBC applies in conjunction with other surveillance measures
  • Trading in affected securities subject to ASM IBC provisions as per existing framework

Important Dates

  • Circular Date: November 12, 2025
  • Effective Date: November 13, 2025 - ASM IBC applicability for SABEVENTS

Impact Assessment

Market Impact: Limited direct market impact as only one security is added to the surveillance framework based on corporate disclosure. SABEVENTS will be subject to enhanced monitoring under the ASM IBC framework.

Operational Impact: Trading members dealing in SABEVENTS must be aware of the ASM IBC status and comply with applicable surveillance measures. The security remains tradable but under heightened regulatory scrutiny.

Investor Impact: Investors in SABEVENTS should be aware of the company’s IBC-related status as indicated by corporate announcements. The surveillance measure signals potential insolvency or restructuring proceedings.

Consolidated Status: The consolidated ASM IBC list includes securities like Eastern Silk Industries Limited (EASTSILK), Goenka Diamond and Jewels Limited (GOENKA), and Jaiprakash Associates Limited (JPASSOCIAT) in Stage I, indicating ongoing monitoring of multiple companies under insolvency proceedings.

Impact Justification

Addition of one security (SABEVENTS) to ASM IBC framework based on corporate disclosure. No securities moved to Stage I or II, and no exclusions. Limited immediate market impact but indicates regulatory monitoring of insolvency-related matters.