Queries on selection of firms under graded surveillance measure

Experts say method to select companies in this list is not spelt clearly by the exchanges or Sebi

The process to bring companies under the graded surveillance measure (GSM) adopted by exchanges and the Securities and Exchange Board of India (Sebi) has come under question from various quarters. 

Experts say the method to select companies in this list is not spelt clearly by the exchanges or the regulator. Also, that companies brought under surveillance do not have a proper redressal mechanism. 

A little more than 700 companies have come under GSM since it was introduced this February.

GSM aims to tackle the surge in cases of companies with poor fundamentals or low market capitalisation witnessing abnormal