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High Court Orders Winding Up Of Dunlop India Ltd-Business Standard

Thursday, 31 Jan 2013 06:18am EST 

Business Standard reported that the Calcutta High Court ordered winding up of tyre manufacturing company Dunlop India Ltd DIL). 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 INR1,000 crore (INR10 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 INR50 crore (INR500 million), would welcome any order that could facilitate the reopening of the Company. 

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24 Dec 2014