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NSE02 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 processes under the Insolvency and Bankruptcy Code (IBC). Effective August 04, 2026, specific securities listed in Annexure I of the circular are now subject to these measures, while those in Annexure II have met the exclusion criteria and are removed. This framework operates alongside existing surveillance measures. The Exchange clarifies that this shortlisting is a market surveillance action and does not constitute an adverse action against the affected companies.

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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 processes under the Insolvency and Bankruptcy Code (IBC). Effective August 04, 2026, specific securities listed in Annexure I of the circular are now subject to these measures, while those in Annexure II have met the exclusion criteria and are removed. This framework operates alongside existing surveillance measures. The Exchange clarifies that this shortlisting is a market surveillance action and does not constitute an adverse action against the affected companies.

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 applicability — 03 Aug 2026

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Source details

Source
National Stock Exchange of India
Type
circular
Published by source
02 Aug 2026
Document number
NSE/SURV/ 75543
Issuing division
SURVEILLANCE
Effective date
03 Aug 2026
Coverage area
securities

Document text

Prepared for reading; wording retained from the source.

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National Stock Exchange of India Limited

Circular

Department: SURVEILLANCE
Download Ref No: NSE/SURV/ 75543Date: August 03, 2026
Circular Ref. No: 583/2026

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 04, 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.

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

Sumit Loya Chief Manager Surveillance

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