Tyre-maker, Dunlop India has obtained more two days from the Calcutta High Court to deposit Rs 10 crore, before considering a prayer for stay on the winding up order passed by a trial court last week. Since 2008, 17 winding-up petitions filed against the company, of which the single bench had passed the closure order and directed the liquidator to take possession of the assets, books and documents of the company immediately. The entity had moved the Division Bench seeking a stay on the winding-up order issued by Justice Sanjib Banerjee.
On February 4, 2013, a division bench of justices G C Gupta and T K Das, responding to the company's request of stay order which challenged the single-judge order passed the directive with the condition that the lawyer of the company will take instruction from the management that it will bring Rs 10 crore to show its bona fide intention of reviving of the company, by February 6, 2013. But Dunlop India, failed to deposit the amount, so it has got a final breather from court till February 8 to deposit the amount.
