BackHC rejects Dunlop appeal
A division bench upheld an earlier order on winding up of Dunlop India
Premium(Mint)
Kolkata: Calcutta high court on Thursday rejected an appeal by Dunlop India Limited (DIL) against a trial court order that directed winding up of the tyre manufacturing company.
A division bench comprising justice Asim Kumar Banerjee and justice M.K. Chaudhuri dismissing the appeal upheld the order of justice Sanjib Banerjee on winding up of Dunlop India Limited, which had set up its first factory at Sahaganj near here in 1936.
Justice Sanjib Banerjee, while ordering the winding up of Dunlop India, had directed the official liquidator to take possession of the company’s assets and books of records.
E V Mathai and Sons and A K Kundu and Company, besides 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 of about Rs1,000 crore.
Company spokesperson in a mailed statement said, “Dunlop India Ltd will prefer an appeal against today’s judgement and order passed by the Hon’ble Division Bench of the Calcutta High Court. Having led the tyre manufacturing industry for decades, the company went on a bumpy ride since the late 1990’s. In 2005, the Ruia Group led by Pawan Kumar Ruia took control of the company.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
