Bourses to alert investors on CIRP stocks

Stock exchanges have unveiled guidelines to safeguard the rights of investors in a bid to bring transparency in trading of shares of companies undergoing Corporate Insolvency Resolution Process (CIRP). The bourses have said that they will identify and tag the security in a manner that will make it easy for members and market participants to know that the security is currently under IBC proceedings. Exchanges will also direct all brokers to alert their clients at the time of placing orders that the scrip is undergoing CIRP.