Description

NSE circular on securities subjected to Additional Surveillance Measure under Insolvency and Bankruptcy Code (IBC), with Gensol Engineering Limited added to ASM IBC Stage I effective February 02, 2026.

Summary

NSE has updated the list of securities under Additional Surveillance Measure (ASM) for companies under Insolvency and Bankruptcy Code (IBC). Gensol Engineering Limited (Symbol: GENSOL, ISIN: INE06H201014) has been added to ASM IBC Stage I effective February 02, 2026. No securities are being excluded from the framework. The consolidated list now includes 4 securities in Stage I: NEUEON, SWANDEF, GENSOL, and EASTSILK.

Key Points

  • Gensol Engineering Limited added to ASM IBC Stage I effective February 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 is purely for market surveillance purposes and not an adverse action against the company
  • Reference circulars: NSE/SURV/37979 (June 08, 2018), NSE/SURV/52368 (May 20, 2022), NSE/SURV/55582 (February 10, 2023), NSE/SURV/70074 (September 05, 2025)

Regulatory Changes

No new regulatory changes introduced. This circular implements the existing ASM IBC framework established through previous circulars by updating the list of affected securities.

Compliance Requirements

  • Market participants must note the updated ASM IBC classification for affected securities
  • Members should apply surveillance measures as per the ASM IBC framework guidelines
  • Trading in affected securities subject to applicable ASM IBC Stage I conditions
  • Queries should be directed to surveillance@nse.co.in

Important Dates

  • Circular Issue Date: February 01, 2026
  • Effective Date: February 02, 2026 - ASM IBC measures applicable for newly shortlisted securities

Impact Assessment

Affected Securities:

  • Stage I New Entries: Gensol Engineering Limited (GENSOL - INE06H201014)
  • Consolidated ASM IBC List (4 securities in Stage I):
    1. Neueon Corporation Limited (NEUEON - INE333I01044)
    2. Swan Defence and Heavy Industries Limited (SWANDEF - INE542F01020)
    3. Gensol Engineering Limited (GENSOL - INE06H201014) - NEW
    4. Eastern Silk Industries (EASTSILK) - partially shown in data

Market Impact: Medium - Addition of one security to surveillance framework may affect trading patterns and investor sentiment in GENSOL. The measure is surveillance-based and operates alongside other existing surveillance mechanisms. No securities were excluded, indicating continued monitoring of previously identified companies.

Impact Justification

Addition of one security (GENSOL) to ASM IBC Stage I framework affects trading surveillance measures for specific stocks under insolvency proceedings