Description
NSE applies Additional Surveillance Measure (ASM) under the Insolvency and Bankruptcy Code (IBC) framework, adding Aban Offshore Limited (ABAN) to Stage I with effect from May 15, 2026. No securities are excluded in this update.
Summary
NSE’s Surveillance Department has updated the Additional Surveillance Measure (ASM) list for companies under the Insolvency and Bankruptcy Code (IBC), effective May 15, 2026. Aban Offshore Limited (ABAN) has been newly shortlisted under ASM IBC Stage I. No securities have been excluded from the IBC ASM framework in this update. The ASM IBC framework operates in conjunction with all other prevailing surveillance measures imposed by exchanges.
Key Points
- New Addition (Stage I): ABAN (Aban Offshore Limited, ISIN: INE421A01028) added to ASM IBC Stage I effective May 15, 2026
- No securities shortlisted under “Receipt of corporate announcement/disclosure” category in this cycle
- No securities moved from Stage I to Stage II or Stage II to Stage I
- No securities excluded from ASM IBC in this update
- ASM IBC framework applies alongside all other exchange surveillance measures
- Shortlisting is purely a market surveillance action and should not be construed as adverse action against the company
Regulatory Changes
This circular is issued under the ASM IBC framework established by prior NSE circulars:
- NSE/SURV/37979 dated June 08, 2018 (original framework)
- NSE/SURV/52368 dated May 20, 2022
- NSE/SURV/55582 dated February 10, 2023
- NSE/SURV/70074 dated September 05, 2025
No structural changes to the framework are introduced in this circular; it is a periodic update of the securities list.
Compliance Requirements
- NSE Members: Take note of the updated ASM IBC securities list and apply applicable trading restrictions for Stage I securities effective May 15, 2026
- Market Participants: Be aware that ABAN is now subject to ASM IBC Stage I restrictions
- For queries, contact NSE Surveillance at surveillance@nse.co.in
Important Dates
- Circular Date: May 14, 2026
- Effective Date: May 15, 2026 (applicability of new ASM IBC placements)
Impact Assessment
Newly Added Security:
| Sr. No. | Symbol | Security Name | ISIN | Stage |
|---|---|---|---|---|
| 1 | ABAN | Aban Offshore Limited | INE421A01028 | I |
Consolidated ASM IBC List (as of May 15, 2026):
| Sr. No. | Symbol | Security Name | ISIN | Stage |
|---|---|---|---|---|
| 1 | ABAN | Aban Offshore Limited | INE421A01028 | I |
| 2 | AGSTRA | AGS Transact Technologies Limited | INE583L01014 | I |
| 3 | BILVYAPAR | BIL VYAPAR LIMITED | INE071A01013 | I |
| 4 | CLCIND | CLC Industries Limited | INE376C01038 | I |
| 5 | DHARAN | DHARAN INFRA-EPC LIMITED | — | I |
Securities under ASM IBC Stage I are subject to enhanced surveillance and may face additional margin requirements or trade-to-trade settlement. Traders and investors holding these securities should review applicable restrictions. The placement is driven by insolvency/bankruptcy proceedings and does not reflect exchange judgment on company fundamentals.
Impact Justification
ASM IBC placement restricts trading conditions for affected securities, directly impacting investors and traders holding these stocks. The new addition of ABAN to Stage I is significant for that stock. The consolidated list of IBC-ASM securities is updated but no exclusions occurred this cycle.