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The Calcutta High Court on Thursday ordered the winding up of tyre manufacturing company, Dunlop India Ltd.
Justice Sanjib Banerjee, while ordering the winding up of Dunlop India, directed the official liquidator to take possession of the company’s assets and books of records.
A liquidator is appointed for taking control of all assets of a company for settling claims against it when a company goes into the winding-up process.
It may be recalled a group of creditors of the company that included EV Mathai & Co, A.K. Kundu & Co and some other creditors, had filed a winding up petition against Dunlop India.
Way back in 1936, DIL set up its first tyre manufacturing plant at 239-acre plant at Sahagunj. Its second plant at Ambattur came up in 1959. Prince Charles had visited the Dunlop plant. In 2005, it was taken over by the Ruia group and two years later emerged out of the purview of the Board of Industrial and Financial Reconstruction’s (BIFR).
Both its Shahgunj (West Bengal) and Ambattur (Tamil Nadu) unit have been closed for sometime now. While the Shahgunj unit closed down around end-2011, the Ambattur unit closed down in early 2012.
When contacted, a Dunlop India spokesperson said, the company was still awaiting a copy of the order.
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