A day after judge Sanjib Banerjee of the high court here passed an interim order to appoint a provisional liquidator over Dunlop India (DIL) assets, the company on Tuesday withdrew a petition before him, seeking protection from any coercive step the state government might take.
Following newspaper reports that West Bengal ministers were planning to take steps against the company, DIL filed the application in February this year, seeking a direction to the state.
The company is likely to move a bigger bench of the HC against yesterday’s single judge’s order appointing a provisional liquidator to take stock of its assets, while barring the company management from selling any property of the tyre maker.
DIL has also been fighting a winding up petition from unsecured creditors at the HC. The petition, seeking liquidation of the company, was launched by a Kerala-based partnership firm, EV Mathai and Sons, and was later joined by 11 unsecured creditors. Company officials said most of these creditors used to supply raw material (rubber) to DIL. The hearing for all the winding up petitions will resume on April 3, in judge Banerjee’s court.
Both the units of Dunlop are closed. Four months after the management shut its Sahagunj (a suburb here) factory, the tyre maker declared suspension of work at its Ambattur plant (Chennai) last month, citing labour unrest.
As for the order yesterday, Madura Coats had moved a winding-up petition in 2009 against DIL for non-payment of Rs 2 crore. In January this year, it filed the application for appointment of a provisional liquidator, on the ground that DIL was transferring its assets to deprive creditors.
