NCLT directs Moser Baer Solar to go under liquidation
The National Company Law Tribunal (NCLT) has directed Moser BaerNSE -4.00 % Solar Ltd to go under liquidation, as the debt-ridden company failed to get any resolution plan from any firm within the mandated 270 days. The principal bench of NCLT, headed by President Justice M M Kumar, has directed the company to go under the liquidation on May 30 and appointed a liquidator for the process.
Moser Baer Solar is a subsidiary of optical storage media maker Moser Baer India Ltd (MBIL), which is also facing liquidation.
