Trading in Reliance Infrastructure is not permanently “banned”; it has been moved into a restricted trading framework linked to insolvency/IBC and surveillance measures, which makes it look like a ban on many broker platforms.

Key points:

1. IBC / Insolvency-linked classification (IBC/IRP Stage):

- From 22 December 2025, Reliance Infrastructure has been tagged under an IBC/IRP-related stage (often shown as “IBC Stage 1” or similar on terminals). (ts2.tech)

- This is because of ongoing insolvency‑related proceedings and disputes that have gone through NCLT/NCLAT in 2025. (economictimes.indiatimes.com)

2. Exchange surveillance rules (ASM / special framework):

- Under the exchanges’ Additional/Enhanced/Graded Surveillance Measures, stocks under IRP/IBC can be allowed to trade only once a week (typically Monday), often with trade‑for‑trade settlement, strict price bands and 100% margin. (zerodha.com)

- This is meant to curb speculative activity and protect investors when there is high risk or insolvency‑related uncertainty. (ts2.tech)

3. Broker-level impact (why your app shows “blocked” / “sell only”):

- Brokers like Zerodha have implemented this IBC/IRP framework as sell‑only, once‑a‑week trading for such scrips, sometimes hiding holdings on non‑trading days from the front‑end but keeping them visible in the back office. (ts2.tech)

- As a result, you cannot place fresh buy orders, and can only exit (sell) during the permitted window, which feels like a complete ban to most retail investors.

4. Not the same as a SEBI ban on the company:

- There is no public order saying the equity of Reliance Infrastructure is completely prohibited from trading forever; it is a surveillance/IBC‑stage restriction, not a delisting or permanent SEBI ban on the share itself. (ts2.tech)

In summary: trading in Reliance Infra looks “banned” because the stock has been moved into an IBC/insolvency‑linked surveillance category where exchanges and brokers allow only very limited, sell‑only, once‑a‑week trading, to manage risk around the company’s insolvency and regulatory situation.

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