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Dunlop India appeals against liquidator's appointment

West Bengal,Business/Economy, Thu, 29 Mar 2012 IANS

Kolkata, March 29 (IANS) Tyre maker Dunlop India Ltd (DIL) Thursday filed an appeal against the March 26 Calcutta High Court order appointing a provisional liquidator to take charge of the company's assets.

 

"Aggrieved by the court's order we have filed an appeal before a division bench of the Calcutta high Court," company spokesman D. Nandi said.

 

The order was given while hearing petitions filed by unsecured creditors of the company, headed by Pawan Ruia.

 

A liquidator is appointed for taking control of all the assets of a company for settling claims against it when a company goes into the winding-up process.

 

As on March 31, 2011, the company has unsecured loans of about Rs.272 crore and secured loans of about Rs.48 crore.

 


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