Reliance Infrastructure Limited (RInfra) has formally requested a review of trading restrictions imposed under the Additional Surveillance Measure (ASM) framework linked to the Insolvency and Bankruptcy Code (IBC). The company argues that these restrictions, which allow trading only once a week within a narrow 5% price band, adversely affect liquidity and price discovery for its over 700,000 public shareholders. RInfra contends that the current trading conditions create a mechanical price movement that does not accurately reflect the company's performance or investor demand. The ASM framework is designed to monitor stocks that may pose higher trading risks, but RInfra claims that these measures disproportionately impact its shareholders, especially during lower-circuit phases when exiting investments becomes challenging. The company has proposed alternatives, such as a periodic call-auction mechanism, to facilitate better trading conditions while retaining essential risk-mitigation measures. The case underscores the tension between regulatory safeguards intended to protect investors and the practical implications of such restrictions on market liquidity and responsiveness.