June 12: The Supreme Court today stayed a Calcutta High Court order directing the winding up of tyre manufacturer Dunlop India Limited.

A vacation bench of Justices Gyan Sudha Misra and Madan B. Lokur passed the order on a plea by Dunlop, which had moved the apex court against the May 2 order by the high court’s division bench. The court has listed the matter for further arguments on July 30.

The division bench of the high court on May 2 had rejected Dunlop’s appeal against its single judge decision of January 31 ordering the winding up of Dunlop India.

The single judge had also directed the official liquidator to take possession of the company’s assets and books of records.

Plant plans

Dunlop owner Pawan K. Ruia is likely to meet the workers of Sahagunj later this week to explore the possibility of reopening the plant in Bengal.

“Now that the stay has been put, I will focus on re-opening the plant. There will be two options before the workers: they may join in a phased manner or if somebody wants to leave, he can do so. Their dues will be paid off,” Ruia said tonight.

As of now, around Rs 10 crore is outstanding as dues to workers.

There are about six creditors who are seeking the closure of the company. Their due is around Rs 12 crore. When the winding up case was filed, there were 50 creditors seeking Rs 54 crore from Dunlop. The company is disputing the claim of the present six creditors as well.