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Tripartite meeting to solve Dunlop imbroglio likely

West Bengal Finance Minister Asim Dasgupta on Friday said he would soon convene a tripartite meeting involving the Dunlop management and the bankers to resolve the present crisis of the ailing tyre company.

" We have to make them sit together to resolve the crisis. We don't want to see the Dunlop's Sahaganj factory closed under any circumstance," Dasgupta told reporters in Calcutta.

He, however, refused to comment on the defamation suit reportedly filed by the Dunlop management against the chairman cum managing director of United Bank of India.

Dasgupta, however, did not specify when he was going to convene the tripartite meeting but said " we are trying to hold the meeting at the quickest possible time."

" There is no slackness in the demand for tyres. Moreover, the BIFR (Board of Industrial and Financial Reconstruction) package is there."

The United Bank of India has demanded that the promoters of the tyre company should be changed before finalising any package for the smooth running of the company.

Dunlop India Ltd is suffering from working capital shortage and the bankers and the trade union has alleged that the management has siphoned off money from the company.

In another development the bankers have demanded that the management should bring back the money it has siphoned off.

UNI

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