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ASM for Companies relating to the (IRP) as per Insolvency and Bankruptcy Code (IBC)

Jun 9th, 2018 3:07 pm | By | Category: LATEST NEWS

Ashishkumar Chauhan MD & CEO (BSE)

Ashishkumar Chauhan

Mumbai : June 9, 2018:Securities and Exchange Board of India (SEBI) and Exchanges in order to enhance market integrity and safeguard interest of investors, have been introducing various enhanced pre-emptive surveillance measures such as reduction in price band, periodic call auction and transfer of securities to Trade to Trade category from time to time.

In continuation to various surveillance measures already implemented, SEBI and Exchanges, pursuant to discussions in joint surveillance meetings, have decided that along with the aforesaid measures there shall be Surveillance Measures for Companies that are undergoing Insolvency Resolution Process (IRP) as per Insolvency and Bankruptcy Code (IBC) w.e.f June 11, 2018.

Accordingly, the list of securities undergoing IRP as per IBC shall be available on the Exchange’s website at the following link:

The aforesaid securities shall be monitored on a pre-determined objective criteria and Margin shall be levied at the rate of 100 % once the criteria gets satisfied. These securities shall be further monitored for an objective criteria and shall be shifted to Trade for Trade segment once the criteria gets satisfied.

Market participants may note that the aforesaid Surveillance measures shall be in conjunction with all other prevailing surveillance measures being imposed by the Exchanges from time to time.

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