Trading in the equity shares of two companies - Bharati Defence and Infrastructure and Todays Writing Instruments - will be suspended from February 1. This comes after the commencement of liquidation proceedings, leading stock exchange Bombay Stock Exchange (BSE) said.
The decision has been taken in order to avoid market complications, BSE said in a circular.
The move comes after the Mumbai Bench of National Company Law Tribunal (NCLT) on January 14, initiated the liquidation process against Bharati Defence and appointed Vijay Kumar V Iyer as liquidator.
Similarly, the Ahmedabad Bench of NCLT on November 30, 2018 had commenced the liquidation process against Todays Writing and named insolvency professional Vishal Bidawatjika as liquidator.
In two similar-worded circulars, the BSE said that trading in the equity shares of Bharati Defence and Todays Writing will be suspended in order to avoid market complications.