Reliance Infra Urges SEBI to Review IBC-Linked Surveillance Framework

Reliance Infrastructure Limited has formally represented to SEBI, NSE, and BSE, requesting a review of the Insolvency and Bankruptcy Code (IBC)-linked surveillance framework, specifically the Additional Surveillance Measure (ASM) and its associated trading restrictions. The company argues these measures, including once-a-week trading with a narrow price band, are artificial, predictable, and harm its 7 lakh retail shareholders by hindering fair price discovery and investor confidence. Reliance Infra seeks a balanced approach, proposing alternatives like call auctions or wider price bands while retaining risk-mitigation measures, emphasizing that these restrictions persist despite an NCLAT stay on insolvency proceedings.