Sunday, July 14, 2013

Court orders winding up of Deccan Cargo

Bangalore: The Karnataka High Court has issued orders for winding up Capt. G.R. Gopinath’s Deccan Cargo and Express Logistics Pvt Ltd (DCEL), which operates under the ‘Deccan 360’ brand.
The High Court’s order indicates that DCEL, even after being given several opportunities, could not pay dues to the tune of Rs 39 lakh to Dubai-based United Aviation Services (UAS) and Rs 1.36 crore to Patel Integrated Logistics Pvt Ltd.
The court directed the winding up of the company in its June 11, 2013 order based on two petitions — one filed by UAS, which provided various facilities like permits, ground handling and fuelling in West Asia, Europe and Russia for DCEL, and another one filed by Patel Integrated, which had provided various logistic services to DCEL.
Now, the Court has ordered the Official Liquidator to commence the liquidation process. Last year itself, the court had prohibited DCEL from selling any of its assets following these two petitions.
14/07/13 Krishnaprasad/Business Line