Surveillance Measure for Companies with High Encumbrance · NSE/SURV/74994
NSE circular NSE/SURV/74994 · 02 Jul 2026
Official title
Applicability of Surveillance Measure in respect of companies with high 'Encumbrance' as per Reg.28(3) of SEBI (SAST) Regulation 2011
Official record
Open source pageSummary
Check the official recordWhat changed
The National Stock Exchange of India updates the list of securities subject to surveillance measures for high encumbrance under SEBI (SAST) Regulation 2011. Securities in Annexure I attract a minimum 35 percent margin in Equity and Equity Derivatives segments. This requirement applies to open positions as of July 6, 2026, and new positions from July 7, 2026. Securities in Annexure II exit the framework on July 3, 2026. This measure operates alongside other existing surveillance actions. Companies may submit representations regarding their inclusion in the framework to the Exchange by 5:00 PM on July 3, 2026. This action is a market surveillance measure and does not represent an adverse action against the listed entities.
What you must do
- Apply a minimum 35 percent margin on securities listed in Annexure I for Equity and Equity Derivatives segments.
- Submit company representations regarding framework inclusion to the Exchange by 5:00 PM on July 3, 2026.
Document text
[Image omitted. See the official document.]
National Stock Exchange of India Limited
Circular
| Department: SURVEILLANCE | |
|---|---|
| Download Ref No: NSE/SURV/74994 | Date: July 02, 2026 |
| Circular Ref. No: 494/2026 |
To All NSE Members
Sub: Applicability of Surveillance Measure in respect of companies with high 'Encumbrance' as per Reg. 28(3) of SEBI (SAST) Regulation 2011
This is in continuation to Exchange Circular no(s). NSE / SURV / 42507 dated October 24, 2019 and NSE / SURV / 44169 dated April 17, 2020, on the captioned subject.
Trading Members are hereby requested to take note of the following:
- The securities as given in Annexure I, have satisfied the criteria for inclusion under the aforesaid Surveillance Measure and shall attract minimum 35% margin in Equity and Equity Derivatives segment w.e.f. July 07, 2026, on all open positions as on July 06, 2026 and new positions created from July 07, 2026.
- The Securities as given in Annexure II, are eligible to move out from the said framework effective from July 03, 2026.
- A consolidated list of securities under the framework is given in Annexure III.
Market participants may note that this surveillance measure shall be in conjunction with all other prevailing surveillance measures being imposed by the Exchanges from time to time and shall be subjected to a periodic review.
Further, it may also be noted that the shortlisting of securities under this surveillance measure is purely on account of market surveillance, and it should not be construed as an adverse action against the concerned company / entity.
Any Company representation w.r.t. being placed in the aforementioned framework should be received by Exchange latest by 5.00 PM on July 03, 2026 for its consideration.
In case of any further queries, you may write to us at surveillance@nse.co.in.
[Image omitted. See the official document.]
National Stock Exchange of India Limited
For National Stock Exchange of India Limited
Amit Shinde Chief Manager Surveillance
Source details
- Source
- National Stock Exchange of India
- Type
- circular
- Published by source
- 02 Jul 2026
- Document number
- NSE/SURV/74994
- Issuing division
- SURVEILLANCE
- Effective date
- 07 Jul 2026
- Coverage area
- securities