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Our Bureau

Kochi , Dec 7

THE Cochin Rubber Merchants' Association today called upon the new management of Dunlop India, the Kolkata-based Ruia Group, to settle financial liabilities of Dunlop to rubber dealers in Kerala.

The liability of Dunlop to Rubber dealers in the State work out to over Rs 20 crore with accrued bank interest of the last eight years, the association said in a statement here.

"The erstwhile management of Dunlop had given an undertaking to the banks to clear off the `hundis', which were due with all accrued interest till the time of payment," the Association said.

However, the banks had initiated recovery proceedings against the rubber suppliers despite the fact that the liability for payment rested with Dunlop. "Some dealers had settled with banks due to the intense pressure tactics of the respective banks," the Association said.

"We call upon the new Dunlop management to settle the dues amicably without further delay," it said.

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