№ lp_2_1_15893
Regulatory framework outlining surveillance criteria, margin requirements, trading restrictions, and review mechanisms applicable to securities of companies undergoing insolvency proceedings under the IBC.
Jurisdiction: India
Subject: Market surveillance measures for securities of companies under IBC
Scope: Non-derivative securities and securities with derivative products
Stages: IBC Stage I; IBC Stage II
Trigger Criteria: Close-to-Close Price Variation thresholds over 5, 15, 30 trading days and 3 months
Additional Trigger: Receipt of corporate announcement or disclosure from the company
Margin Requirement: 100% margin w.e.f. T+2 basis
Price Band: ±5%
Settlement Type: Gross settlement
ASD Requirement: 100% Trade Value to be deposited by Buyer
Trading Frequency: Once a week trading
Review Frequency: Daily review for Stage I; Monthly review for Stage II
Exit Condition: Movement based on minimum 1 month in respective stage and review on last trading day of the month
Restriction: No upward movement permitted in Stage II
Non-Promoter Holding Condition: Securities moved out after attainment of non-promoter holding ≥25% and completion of subsequent 3 calendar months
Price: 8 / 10 USD
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