Leading stock exchanges BSE and NSE have decided to suspend trading in the equity shares of Moser Baer India, a manufacturer of CDs and DVDs, from October 11 following the commencement of liquidation proceedings.
The move comes after Delhi Bench of National Company Law Tribunal (NCLT) through an order on September 20 had initiated liquidation process against Moser Bear. It had also appointed Resolution Professional Anil Kohli as the liquidator.
“To avoid market complications, trading in the equity shares of Moser Bear India will be suspended with effect from Thursday, October 11, 2018,” BSE said in circular.
In a separate circular, National Stock Exchange (NSE) also announced the similar move.
The bench had allowed liquidation of the company due to non-receipt of any resolution plan.
Moser Baer, last month, had said the decision has come on a plea filed by its lender Alchemist Asset Reconstruction Company Ltd.