BSE Issues Notice on Additional Surveillance Measure for IRP Framework

Strategic Insights -

The Bombay Stock Exchange (BSE) has notified its members that a list of securities has satisfied the criteria under the Additional Surveillance Measure for Companies relating to the Insolvency Resolution Process (IRP) as per the Insolvency and Bankruptcy Code (IBC), effective from October 14, 2025. The securities in question will be reviewed periodically, and a list of those moving out of the framework is attached as Annexure II. The BSE also clarified that the shortlisting of securities under the framework is based on market surveillance and should not be seen as an adverse action against the concerned company or entity.

Key Takeaways:

  • The BSE has issued a notice regarding the Additional Surveillance Measure for Companies relating to the Insolvency Resolution Process (IRP) as per the Insolvency and Bankruptcy Code (IBC).
  • The notice affects securities that have satisfied the criteria under the framework, effective from October 14, 2025.
  • The securities will be reviewed periodically to ensure compliance with the framework.
  • A list of securities moving out of the framework is provided in Annexure II.
  • The price band of scrips moving out of the framework will be reinstated to the pre-framework price band, unless the scrip is shortlisted or part of another surveillance measure.
  • Clarifications can be sought at bse.surv@bseindia.com.

Statistics:

  • 14, 2025: The date from which the securities in question will be subject to the Additional Surveillance Measure for Companies relating to the IRP.
  • 19 securities: Listed in Annexure I as having satisfied the criteria under the framework.
  • 5, 2025: The date on which the list of securities moving out of the framework was finalized.

Sources:

  • BSE (Bombay Stock Exchange) - Exchange notice no. 20250905-47 dated September 05, 2025
  • BSE (Bombay Stock Exchange) - Exchange notice no. 20220520-52 dated May 20, 2022
  • BSE (Bombay Stock Exchange) - Exchange notice no. 20230210-55 dated February 10, 2023
  • BSE (Bombay Stock Exchange) - Exchange notice no. 20180608-34 dated June 08, 2018