Description

NSE updates ASM framework for companies under Insolvency and Bankruptcy Code, with Neueon Corporation Limited added to Stage I effective January 02, 2026.

Summary

NSE has updated the Additional Surveillance Measure (ASM) framework for companies under the Insolvency and Bankruptcy Code (IBC). Neueon Corporation Limited has been newly shortlisted in ASM IBC Stage I effective January 02, 2026. No securities have been excluded or moved between stages. The consolidated list continues to include Eastern Silk Industries Limited, Jaiprakash Associates Limited, Ujaas Energy Limited, and Ortel Communications Limited in Stage I.

Key Points

  • Neueon Corporation Limited (Symbol: NEUEON, ISIN: INE333I01044) added to ASM IBC Stage I from January 02, 2026
  • No securities moved from Stage I to Stage II or vice versa
  • No securities excluded from ASM IBC framework in this update
  • ASM IBC framework operates in conjunction with all other prevailing surveillance measures
  • Shortlisting under ASM IBC is purely for market surveillance and not an adverse action against the company

Regulatory Changes

This circular continues the implementation of the ASM framework for companies under IBC, as established in previous circulars NSE/SURV/37979 (June 08, 2018), NSE/SURV/52368 (May 20, 2022), NSE/SURV/55582 (February 10, 2023), and NSE/SURV/70074 (September 05, 2025). No new regulatory changes introduced.

Compliance Requirements

  • Market participants must note ASM IBC measures for affected securities
  • Members should be aware that ASM IBC framework works alongside other surveillance measures
  • Trading in affected securities subject to applicable ASM IBC restrictions based on stage classification

Important Dates

  • Effective Date: January 02, 2026 - New ASM IBC measures become applicable
  • Circular Issue Date: January 01, 2026

Impact Assessment

Market Impact: Limited impact as only one new security (NEUEON) added to surveillance framework. Existing securities in consolidated list remain unchanged.

Operational Impact: Traders and investors dealing with Neueon Corporation Limited must comply with ASM IBC Stage I restrictions from January 02, 2026.

Consolidated ASM IBC List: Includes at least 4 securities in Stage I - Eastern Silk Industries Limited, Jaiprakash Associates Limited, Ujaas Energy Limited, and Ortel Communications Limited (list appears incomplete in source data).

Queries: surveillance@nse.co.in

Impact Justification

Routine surveillance update affecting one new security (NEUEON) under IBC framework. Consolidated list shows multiple securities remain under ASM IBC stages.