Press Esc to close

Pack up, Calcutta HC tells Dunlop India

Kolkata, Jan 31, 2013, PTI: 21:45 IST
The Calcutta High Court on Thursday ordered winding up of tyre manufacturing company Dunlop India Limited, which had set up its first factory at Sahaganj in 1936.

Justice Sanjib Banerjee, while ordering the winding up of Dunlop India, directed the official liquidator to take immediate possession of the company’s assets and books of records.

E V Mathai and Company and A K Kundu and Company, followed by 15 other creditors, had moved a winding up petition before the High Court seeking liquidation of the company in 2008 for non-payment of dues amounting to around Rs 1,000 crore.

The lawyers of DIL submitted before the court that they were taking every step to settle the issue.
The court, however, refused a plea by DIL to stay operation of the order.

Appearing for the state, Advocate General Anindya Mitra submitted that the state, which also had claims of around Rs 50 crore, would welcome any order that could facilitate the reopening of the company.

Having led the tyre manufacturing industry for decades, the company went into doldrums since the late 1990’s.
In 2005, the Ruia Group led by Pawan Kumar Ruia took control of DIL.

Go to Top

More from this section
Most trending stories
Photo Gallery
Hundreds of vehicles stranded at Jammu-Srinagar national highway as it remained closed...

Hundreds of vehicles stranded at Jammu-Srinagar national highway as it remained closed...

Prime Minister Narendra Modi receiving a memento from FICCI president Pankaj Patel at the 90th...

Prime Minister Narendra Modi receiving a memento from FICCI president Pankaj Patel at the 90th...

Tourists enjoy the weather after a fresh snowfall at Mahasu peak in Kufri near Shimla on Wednesday..

Tourists enjoy the weather after a fresh snowfall at Mahasu peak in Kufri near Shimla on Wednesday..

Prince William, Duke of Cambridge, left, and Prince Harry on the red carpet as they attend...

Prince William, Duke of Cambridge, left, and Prince Harry on the red carpet as they attend...

India's captain Rohit Sharma celebrates his double-century during the second ODI cricket match...

India's captain Rohit Sharma celebrates his double-century during the second ODI cricket match...

A leopard after it fell into a well at Bamungaon in Guwahati on Wednesday....

A leopard after it fell into a well at Bamungaon in Guwahati on Wednesday....

Prime Minister Narendra Modi, former Prime Minister Manmohan Singh, senior BJP leader LK Advani...

Prime Minister Narendra Modi, former Prime Minister Manmohan Singh, senior BJP leader LK Advani...

India's Prime Minister Narendra Modi (C) pays homage to the victims of the December 2001 parliament.

India's Prime Minister Narendra Modi (C) pays homage to the victims of the December 2001 parliament.

Bollywood actress Soha Ali Khan with mother Sharmila Tagore and sister Saba Ali Khan at the launch..

Bollywood actress Soha Ali Khan with mother Sharmila Tagore and sister Saba Ali Khan at the launch..

Sunset in Bengaluru on Wednesday...

Sunset in Bengaluru on Wednesday...

Like us on Facebook

Copyright 2017, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523
Powered by Yodasoft Technologies Pvt. Ltd.