Dunlop pays Rs 10 cr to HC, gets stay on winding up till Feb 18
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The Dunlop company on Friday told the Calcutta High Court that it has agreed to deposit Rs 10 crore to secure the stay on the order passed by Justice Sanjib Banerjee which ruled for winding up of the company. Following such assurance, the Division Bench of Justice Girish Chandra Gupta and Justice Tarun Kumar Das asked the counsel of Dunlop to deposit the bank draft to Registrar General of the High Court.
While Dunlop urged the high court to impose a stay on the order of winding up of the company, the division bench said it would not be possible to pass an order for a permanent stay on the order. The stay will be effective till February 18. Dunlop will have to now approach the regular division bench for seeking a permanent stay on the order of winding up of the company.
On January 31, Justice Sanjib Banerjee ruled for winding up of the company to clear the dues of 16 companies. Dunlop challenged the order in the division bench, which asked it to deposit Rs 10 core to the high court for a stay.