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NSE06 Aug 2026circularPrepared by Complied AI

Applicability of Additional Surveillance Measure under IBC

The National Stock Exchange of India has updated the list of securities subject to the Additional Surveillance Measure (ASM) framework for companies undergoing proceedings under the Insolvency and Bankruptcy Code (IBC). Effective August 10, 2026, specific securities listed in Annexure I are now included under the ASM IBC framework, while those in Annexure II have met the exclusion criteria and are removed. This surveillance measure operates alongside other existing exchange measures. The exchange clarifies that inclusion in the ASM IBC framework is a market surveillance action and does not constitute an adverse finding against the affected entities. For securities exiting the framework, price bands will revert to their previous status, provided no other surveillance measures apply.

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What changed

The National Stock Exchange of India has updated the list of securities subject to the Additional Surveillance Measure (ASM) framework for companies undergoing proceedings under the Insolvency and Bankruptcy Code (IBC). Effective August 10, 2026, specific securities listed in Annexure I are now included under the ASM IBC framework, while those in Annexure II have met the exclusion criteria and are removed. This surveillance measure operates alongside other existing exchange measures. The exchange clarifies that inclusion in the ASM IBC framework is a market surveillance action and does not constitute an adverse finding against the affected entities. For securities exiting the framework, price bands will revert to their previous status, provided no other surveillance measures apply.

Who is affected
  • All NSE members
Required action
  • Members are requested to note the inclusion and exclusion of securities under the ASM IBC framework.
Key dates
  • Effective date for ASM IBC criteria application — 09 Aug 2026
Consequences
  • Securities moving out of the framework will have their price bands reinstated to the levels applicable before shortlisting, unless other surveillance measures apply.

Prepared automatically from the captured official document and checked against source evidence. This is not an independent professional review. See how briefs are prepared. Verify material decisions against the official record.

Source details

Source
National Stock Exchange of India
Type
circular
Published by source
06 Aug 2026
Document number
605/2026
Issuing division
SURVEILLANCE
Effective date
09 Aug 2026
Coverage area
securities

Document text

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National Stock Exchange of India Limited

Circular

Department: SURVEILLANCE
Download Ref No: NSE/SURV/75651Date: August 07, 2026
Circular Ref. No: 605/2026

To All NSE Members

Sub: Applicability of Additional Surveillance Measure under IBC

This is with reference to Exchange Circular nos. NSE/SURV/37979 dated June 08, 2018, NSE/SURV/52368 dated May 20, 2022, NSE/SURV/55582 dated February 10, 2023 and NSE/SURV/70074 dated September 05, 2025 in respect of Additional Surveillance Measure for Companies as per Insolvency and Bankruptcy Code (IBC).

Members are hereby requested to note that the securities as per attached Annexure I have satisfied the criteria under ASM for Companies as per Insolvency and Bankruptcy Code (IBC) with effect from August 10, 2026.

Further, securities as per attached Annexure II have satisfied the exclusion criteria applicable for ASM for Companies as per Insolvency and Bankruptcy Code (IBC).

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

The Price Band of a scrip moving out of the framework shall be reinstated to the Price Band applicable to that scrip before it got shortlisted under the respective framework. This will be subject to the scrip not being National Stock Exchange of India Limited shortlisted or part of any other Surveillance measure, in which case, the price band of the relevant surveillance framework will prevail.

Further, it may also be noted that the shortlisting of securities under ASM IBC is purely on account of market surveillance, and it should not be construed as an adverse action against the concerned company / entity.

In case of any further queries, you may write to us at surveillance@nse.co.in.

For National Stock Exchange of India Limited

Amit Shinde Chief Manager Surveillance

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