Bizbits

The company was referred to the BIFR on January 14 though its case is yet to be admitted. On February 24, Justice Sinha had restrained Dunlop from disposing of its assets without prior permission of the court.

NRC Ltd had alleged that Dunlop had failed to repay its dues amounting to Rs 3.89 crore as on Januray 31, 1998. The winding-up petition was filed under Sections 433, 434, 439 and 450 of the Companies Act of 1956, praying for the appointment of a provisional liquidator.