HC orders winding up of company after two firms seek recovery of amounts due to them
The pioneer of low-cost airlines in India Capt. G.R. Gopinath’s second large business venture — Deccan Cargo and Express Logistics Pvt. Ltd. (DCEL) — known under brand name ‘Deccan 360’ — has been ordered to wind up by the Karnataka High Court.
Capt. Gopinath launched DCEL after he sold low-cost airlines Deccan Aviation to Vijay Mallya’s Kingfisher Airlines.
The High Court directed closure of DCEL in a recent order based on petitions — one filed by Dubai-based United Aviation Services (UAS) and another by M/s Patel Integrated Logistics (PIL) Pvt. Ltd. — seeking recovery of amounts due to them by winding up the company. The court observed that the DCEL did not pay dues to these two companies even after the court offered it many opportunities. The DCEL owes Rs. 39 lakh to the UAS and Rs. 1.36 crore to the PIL.
Full report here Hindu