Falcon Tyres Ltd fixed February 21 record date to allot one 10 per cent unsecured redeemable non-convertible debenture of Rs 15 for every share held.
The Pawan Ruia group has finally come out with an open offer for Dunlop India and Falcon Tyres following its indirect acquisition of these two outfits from the Jumbo group in December 2005.
Pawan Ruia has finally done it, a beaming Buddhadeb Bhattacharjee, then West Bengal chief minister, had said at the reopening of the 70-year-old Sahagunj factory owned by Dunlop in 2005. But with the Calcutta high court passing a winding-up order in 2013 and the Trinamool Congress-led state government passing a Bill to take over the company in 2016, the once-upon-a-time undisputed leader in the Indian tyre industry looks vastly undone. But that can hardly be a deterrent for Ruia, who has a penchant for making headlines one way or the other.
Among the companies that have shown interest in NTC are Abhishek Industries, Alps Industries, Falcon Tyres, Alok Industries and Nitco.
Ruia, a chartered accountant whose business ranged from sugar to textiles and heavy engineering to tyres, refused to comment on queries about his interest in Air India.
No tyres of any description have rolled out of its factories in Sahagunj (West Bengal) or Ambattur (Tamil Nadu) since 2011 and 2012, respectively.
Markets shrugged off RBI's neutral stance on key policy rates.
Industrialist Pawan Ruia's (think Dunlop and Jessop) arrest this month for cheating and criminal breach of trust marked a new low, but the tide had been turning against him for a while now. Ishita Ayan Dutt & Avishek Rakshit report.