Kairosoft AI Fights Back: Writ Petition Filed Against BSE’s GSM-4 Move

Kairosoft AI Solutions Ltd has gone to court against the Bombay Stock Exchange (BSE), asking for a writ petition to oppose its grading under the GSM-4 (Graded Surveillance Measure) system. The company accuses this grading of causing significant reputational and financial harm, impacting its capacity to attract investors and conduct business effectively.

 

In its lawsuit, Kairosoft argues that GSM-4 designation by BSE is unreasonable and opaque. The company maintains that it has complied with all laws and has sufficient disclosures in terms of finance. The lawsuit is the culmination of a series of efforts by Kairosoft to resolve the issue amicably with BSE, which is reported to have brought no desired result.

 

The GSM-4 system is designed to track securities that show abnormal price movement, but firms tend to challenge the use of its system because it has a constrictive effect on the volume of trades. Kairosoft's action expresses increasing unease among listed firms about the equity of such designations.

 

This is also part of Kairosoft's overall strategic plans, such as recently introducing VolkAI, its new AI technology platform that seeks to transform content creation and automation technologies.

 

Source: IFIN Ltd