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Last Updated : Sep 25, 2018 04:01 PM IST | Source: Moneycontrol.com

Moser Baer locked in 5% lower circuit as NCLT allows liquidation of company

NCLT has allowed the liquidation of Moser Baer India vide its order dated September 20, 2018, under Section 33(2) of the Insolvency and Bankruptcy Code, 2016.

 
 
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Shares of Moser Baer India ended at lower circuit after National Company Law Tribunal (NCLT) approved for liquidation of the company.

There were pending sell orders of 69,456 shares, with no buyers available.

NCLT has allowed the liquidation of Moser Baer India vide its order dated September 20, 2018, under Section 33(2) of the Insolvency and Bankruptcy Code, 2016.

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The average liquidation value comes to Rs 337.45 crore. The total financial debts due to financial creditors as on the corporate Insolvency commencement date has been Rs 4,356.12 crore.

Moser Baer (India) closed at Rs 1.67, down Rs 0.08, or 4.57 percent on the BSE.

The share touched a 52-week low of Rs 1.67.

Posted by Rakesh Patil

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First Published on Sep 25, 2018 03:57 pm
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