Dunlop India chairman Pawan Kumar Ruia said: "The Sahaganj plant will resume production either just before the Puja or right after the Puja."
The company is under liquidation.
Promised court that it will deposit Rs 10 crore by February 11.
Taken out from the supervision of the Board for Industrial and Financial Reconstruction (BIFR), Dunlop India Limited (DIL) expects to make a marginal profit by March 2008 and declare a dividend for shareholders next fiscal.
Power has to be restored by the West Bengal State Electricity Development Ltd that was surrendered when production was suspended at the plant in November last year.
Tyre major Dunlop India's main plant at Shahgunj near Kolkata would be re-opened on October 31, West Bengal Chief Minister Buddhadeb Bhattacharjee said on Monday.
Dunlop India of the Pawan Ruia group has submitted a Rs 600 crore (Rs 6 billion) draft rehabilitation scheme to the Board for Industrial and Financial Reconstruction for the revival of the ailing outfit.
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.
After nearly five years of uncertainty Dunlop India's plant at Ambattur near Chennai would re-open on Sunday with 1000 workers scheduled to join work under a new management headed by Pawan Kumar Ruia
Owned by Pawan Ruia, the tyre manufacturing company closed down the factory in 2009.
Getting the first tyres out from the Sahaganj plant will still require a lot of effort, but with the state government on its side, the hopes are high.
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.
The high court in Kolkata has ordered winding up of the Pawan Ruia group's tyre maker, Dunlop India, directing the official liquidator to take possession of all the company's assets and books of records.
The recession-hit company had earlier temporarily shut its plants at both Sahagunj, near Kolkata, and Ambattur, near Chennai. But with the rising demand in the the automobile sector, it was decided to resume production. According to Ruia, the Ambattur plant will resume operation from October 19.
Though the general feeling among the majority of the workers is that of a relief as the management finally asked them to join work from December 2, a section of workers started demanding inclusion of the 25 workers who had been chargesheeted by the management earlier.
Just two years after it was revived after a long shut down, tyre maker Dunlop (India) Ltd will suspend production at its Sahaganj unit in West Bengal citing lack of working capital and drastic fall in demand.
The new management of Dunlop India Ltd headed by P K Ruia has urged the West Bengal Industrial Reconstruction Department to grant it the status of a 'relief undertaking' so that creditors were not able to move court against it. \n
The Ruia group, which had taken over ailing companies like Jessop and Dunlop India for turnaround, is also eyeing the sugar sector.
The factory located in Ambattur Industrial Estate, which became sick in 2001, under the Manu Chabbria-led management, has been taken over by the Kolkata-based Ruia group which finalised agreements with workers.
The directorate of revenue Intelligence has issued a show cause notice to Pawan Kumar Ruia, who had acquired public sector engineering giant Jessop & Co and ailing tyre company Dunlop India Ltd, for allegedly claiming false export benefits.
Following the takeover of ailing tyre maker Dunlop India Ltd by Ruia group, three directors of the company have resigned while reconstitution of the board would take some time, chairman of the group P K Ruia said.
After a long gap of more than 55 months, the Sahagunj factory of Dunlop India Limited in West Bengal re-opened on Friday for maintenance work to pave the way for operations to begin from August this year.
The stand-off between the Pawan Kumar Ruia led management of ailing Dunlop India and workers' union remained unresolved on Saturday, but the new management expressed confidence that all pending issues would be sorted out soon paving the way for re-op
The devastating fire that gutted the four-storied building housing the marketing office of Dunlop India Ltd early this morning would have no impact on the revival plans of the company
Fire Brigade sources said 30 fire tenders have been pressed into service to control the blaze.
Markets shrugged off RBI's neutral stance on key policy rates.
No tyres of any description have rolled out of its factories in Sahagunj (West Bengal) or Ambattur (Tamil Nadu) since 2011 and 2012, respectively.
Turns down firm's plea for stay on CCI order; final order pending
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances