Lanco Infratech will not trade on BSE from September 14
The move comes after the Hyderabad bench of the National Company Law Tribunal (NCLT)
By PTI |
NEW DELHI: Leading stock exchange BSE Thursday said trading in the equity shares of Lanco Infratech will be suspended from September 14, following commencement of liquidation proceedings.
The move comes after the Hyderabad bench of the National Company Law Tribunal (NCLT), on August 27, ordered the liquidation of the company, and appointed resolution professional Savan Godiavala as the liquidator.
The bench ordered the liquidation of the company after the committee of creditors rejected the revised resolution plan submitted by Thriveni Earthmovers, a Tamil Nadu-based infra and mining firm.
“Hence, to avoid market complications, trading in the equity shares of Lanco Infratech will be suspended with effect from September 14, 2018,” BSE said.
The move comes after the Hyderabad bench of the National Company Law Tribunal (NCLT), on August 27, ordered the liquidation of the company, and appointed resolution professional Savan Godiavala as the liquidator.
The bench ordered the liquidation of the company after the committee of creditors rejected the revised resolution plan submitted by Thriveni Earthmovers, a Tamil Nadu-based infra and mining firm.
“Hence, to avoid market complications, trading in the equity shares of Lanco Infratech will be suspended with effect from September 14, 2018,” BSE said.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
Related Articles
Statkraft in advanced talks to buy Lanco Infratech’s hydel power unitADVERTISEMENT
