Reliance Infrastructure Limited has sought a review of the trading restrictions imposed under the Additional Surveillance Measure (ASM) framework, which limits trading of its shares to once a week within a narrow 5% price band. The company claims this restriction adversely affects over 700,000 public shareholders, leading to mechanical price movements that do not accurately reflect its business fundamentals or operational performance. In a formal representation to the Securities and Exchange Board of India (SEBI), National Stock Exchange (NSE), and Bombay Stock Exchange (BSE), Reliance Infrastructure emphasized the need for market mechanisms that support fair price discovery and maintain investor confidence. The company pointed out that the restrictions disproportionately harm retail investors, particularly during lower-circuit phases, making it difficult for them to exit investments at reasonable prices. Reliance Infrastructure proposed a more calibrated approach, retaining key risk-mitigation measures while allowing for better trading conditions, such as a periodic call-auction mechanism or a wider price band. The ASM framework was triggered despite the National Company Law Appellate Tribunal (NCLAT) staying the insolvency admission order against the company, which continues to be managed by its board of directors.