Description
NSE announces changes to Additional Surveillance Measure (ASM) for companies under Insolvency and Bankruptcy Code (IBC), with Neueon Corporation Limited newly added to Stage I effective March 11, 2026.
Summary
NSE has issued an update on the applicability of Additional Surveillance Measure (ASM) for companies undergoing proceedings under the Insolvency and Bankruptcy Code (IBC), effective March 11, 2026. Neueon Corporation Limited (NEUEON) is newly shortlisted under ASM Stage I. No securities are moving from Stage I to Stage II or vice versa, and no securities are being excluded from ASM in this update.
Key Points
- New Addition to ASM IBC Stage I (w.e.f. March 11, 2026): NEUEON (Neueon Corporation Limited, ISIN: INE333I01044)
- No securities have been shortlisted under “Receipt of corporate announcement / disclosure” category in this update (Nil)
- No securities are transitioning from Stage I to Stage II (Nil)
- No securities are transitioning from Stage II to Stage I (Nil)
- No securities are being excluded from ASM IBC in this update (Nil)
- The consolidated ASM (IBC) list now contains 18+ securities across Stage I and the “Receipt of corporate announcement / disclosure” category
Regulatory Changes
ASM under IBC is applied by NSE to securities of companies that are undergoing insolvency and bankruptcy proceedings. The framework has two stages:
- Stage I: Enhanced margin requirements and surveillance
- Stage II: Further restrictions on trading
- Receipt of corporate announcement / disclosure: Monitoring category for companies that have made relevant IBC-related disclosures
Compliance Requirements
- Trading members and investors must note the revised ASM applicability for affected securities
- Enhanced margin requirements apply to securities under ASM Stage I and Stage II
- Market participants dealing in the listed securities should review their exposure and margin obligations accordingly
- Securities marked with an asterisk (*) indicate newly added or recently changed status
Important Dates
- Effective Date: March 11, 2026 — All changes to ASM IBC applicability come into force
Impact Assessment
Newly Added (Stage I):
- NEUEON (Neueon Corporation Limited) — Traders and investors in this stock will face higher margin requirements and enhanced surveillance from March 11, 2026.
Consolidated ASM IBC List (as of March 11, 2026):
| Sr. No. | Symbol | Security Name | ISIN | Stage |
|---|---|---|---|---|
| 1 | ARSHIYA | Arshiya Limited | INE968D01022 | Stage I |
| 2 | CLCIND | CLC Industries Limited | INE376C01038 | Stage I |
| 3 | EASTSILK | Eastern Silk Industries Limited | INE962C01035 | Stage I |
| 4 | GENSOL | Gensol Engineering Limited | INE06H201014 | Stage I |
| 5 | HDIL | Housing Development and Infrastructure Limited | INE191I01012 | Stage I |
| 6 | NEUEON | Neueon Corporation Limited | INE333I01044 | Stage I |
| 7 | ABAN | Aban Offshore Limited | INE421A01028 | Receipt of corporate announcement |
| 8 | AGSTRA | AGS Transact Technologies Limited | INE583L01014 | Receipt of corporate announcement |
| 9 | ALCHEM | Alchemist Limited | INE964B01033 | Receipt of corporate announcement |
| 10 | ANKITMETAL | Ankit Metal & Power Limited | INE106I01010 | Receipt of corporate announcement |
| 11 | ANSALAPI | Ansal Properties & Infrastructure Limited | INE436A01026 | Receipt of corporate announcement |
| 12 | ARTEDZ | Artedz Fabs Limited | INE00CO01016 | Receipt of corporate announcement |
| 13 | BANSAL | Bansal Multiflex Limited | INE668X01018 | Receipt of corporate announcement |
| 14 | BILVYAPAR | BIL VYAPAR LIMITED | INE071A01013 | Receipt of corporate announcement |
| 15 | CMICABLES | CMI Limited | INE981B01011 | Receipt of corporate announcement |
| 16 | COMPINFO | Compuage Infocom Limited | INE070C01037 | Receipt of corporate announcement |
| 17 | DHARAN | DHARAN INFRA-EPC LIMITED | INE278R01034 | Receipt of corporate announcement |
| 18 | EMBDL | Embassy Developments Limited | — | Receipt of corporate announcement |
Investors holding positions in any of these securities should be aware of the elevated risk profile, potential trading restrictions, and higher margin requirements associated with IBC proceedings.
Impact Justification
This circular imposes enhanced trading restrictions on multiple securities under IBC proceedings, directly affecting tradability and investor exposure to insolvent companies. Neueon Corporation Limited is newly added to ASM Stage I, and a consolidated list of 18+ securities under various ASM-IBC stages is updated.