Description

NSE circular regarding the application of Additional Surveillance Measure (ASM) for companies under Insolvency and Bankruptcy Code (IBC), with CLC Industries Limited shortlisted in Stage I effective February 09, 2026.

Summary

NSE has issued a circular regarding the applicability of Additional Surveillance Measure (ASM) for companies under the Insolvency and Bankruptcy Code (IBC). Effective February 09, 2026, CLC Industries Limited (Symbol: CLCIND, ISIN: INE376C01038) has been shortlisted in ASM IBC Stage I. No securities have been excluded from the framework or moved between stages in this update. The ASM IBC framework operates in conjunction with all other prevailing surveillance measures.

Key Points

  • CLC Industries Limited (CLCIND) shortlisted in ASM for Companies as per IBC Stage I
  • Circular references previous NSE 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 securities added based on corporate announcement/disclosure criteria
  • No securities moving 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 surveillance measures
  • Shortlisting is purely for market surveillance and not an adverse action against the company

Regulatory Changes

No new regulatory changes introduced. This circular implements the existing ASM IBC framework established through previous circulars. The framework continues to apply surveillance measures to companies undergoing insolvency proceedings under the Insolvency and Bankruptcy Code.

Compliance Requirements

  • Members must note the applicability of ASM IBC to CLC Industries Limited effective February 09, 2026
  • Trading in the shortlisted security will be subject to ASM IBC Stage I restrictions
  • Price band adjustments apply as per the ASM IBC framework
  • When a scrip exits the framework, its price band will be reinstated to the pre-ASM level, unless subject to other surveillance measures
  • Market participants should consider ASM IBC in conjunction with all other surveillance measures

Important Dates

  • Circular Date: February 06, 2026
  • Effective Date: February 09, 2026 - ASM IBC Stage I applicability for CLC Industries Limited

Impact Assessment

Trading Impact: CLC Industries Limited will face enhanced surveillance with potential price band restrictions and trading limitations under ASM IBC Stage I. This may result in reduced liquidity and increased volatility monitoring for the scrip.

Market Impact: Limited broader market impact as only one security is affected. The measure is company-specific and relates to insolvency proceedings.

Investor Impact: Investors in CLCIND should be aware of the enhanced surveillance status, which indicates the company is undergoing or has been subject to IBC proceedings. This does not constitute an adverse regulatory action but serves as an informational surveillance measure.

Operational Impact: The scrip will be subject to stage-based surveillance conditions, and any future movement between stages or exclusion will be communicated through subsequent circulars. Members should monitor for further updates regarding this security.

Impact Justification

One security (CLC Industries Limited) placed under ASM IBC Stage I, which imposes trading restrictions. This is a routine surveillance measure affecting a single scrip with limited broader market impact.