Description
NSE announces ASM applicability under IBC effective February 27, 2026, adding Eastern Silk Industries Limited (EASTSILK) to Stage I. Consolidated list includes 7 securities in Stage I and multiple securities under corporate announcement receipt category.
Summary
NSE has announced the applicability of Additional Surveillance Measure (ASM) for companies under the Insolvency and Bankruptcy Code (IBC) effective February 27, 2026. One new security — Eastern Silk Industries Limited (EASTSILK) — has been added to ASM Stage I. No securities have been moved between stages or excluded in this update. A consolidated list of 17+ securities under IBC-related ASM is provided, spanning Stage I and the ‘Receipt of Corporate Announcement’ category.
Key Points
- New addition to ASM Stage I (effective Feb 27, 2026): EASTSILK — Eastern Silk Industries Limited (INE962C01035)
- No securities moved from Stage I to Stage II
- No securities moved from Stage II to Stage I
- No securities moved to or excluded from the ‘Receipt of Corporate Announcement’ category in this update
- Consolidated IBC-ASM list now contains at least 17 securities across Stage I and corporate announcement receipt categories
Regulatory Changes
Under the ASM framework for IBC companies, NSE classifies securities into:
- Stage I: Enhanced surveillance with margin/trading restrictions
- Stage II: Stricter restrictions than Stage I
- Receipt of Corporate Announcement / Disclosure: Monitoring category for companies that have made relevant insolvency-related disclosures
This circular updates the classification as of February 27, 2026 with EASTSILK newly entering Stage I.
Compliance Requirements
- Trading members must note the revised ASM applicability for the listed securities from February 27, 2026
- Enhanced margin and position limit requirements apply to Stage I and Stage II securities as per ASM-IBC framework
- Members and clients holding or trading in these securities must comply with applicable ASM restrictions
Important Dates
- Effective Date: February 27, 2026 — New ASM classifications and consolidated list come into force
Impact Assessment
Stage I Securities (7 total including new addition):
| Symbol | Security Name | ISIN |
|---|---|---|
| ARSHIYA | Arshiya Limited | INE968D01022 |
| NEUEON | Neueon Corporation Limited | INE333I01044 |
| SWANDEF | Swan Defence and Heavy Industries Limited | INE542F01020 |
| GENSOL | Gensol Engineering Limited | INE06H201014 |
| CLCIND | CLC Industries Limited | INE376C01038 |
| HDIL | Housing Development and Infrastructure Limited | INE191I01012 |
| EASTSILK | Eastern Silk Industries Limited (NEW) | INE962C01035 |
Receipt of Corporate Announcement / Disclosure Category (10+ securities): Includes JPASSOCIAT, ORTEL, MORARJEE, RELINFRA, DHARAN, ABAN, AGSTRA, ALCHEM, ANKITMETAL, ANSALAPI, and others.
The inclusion of these securities under ASM-IBC reflects ongoing insolvency proceedings and signals elevated risk to investors. Trading in these securities is subject to enhanced surveillance, potentially impacting liquidity and margin requirements. Investors should exercise caution and track NCLT/IBC proceedings for these companies.
Impact Justification
ASM under IBC imposes trading restrictions on multiple securities linked to insolvent companies; new addition of EASTSILK to Stage I and a consolidated list of 17+ affected securities directly impacts investor trading across these counters effective February 27, 2026.