# In the matter of Khayerbari Tea Company Ltd. (KTCL) Vs.
Shyamal Kumar Bhattacharya
Resolution Professional
of Kumlai Tea and Industries Ltd. Company Appeal (AT) (Insolvency) No. 466 & 467 of 2022

> NCLAT judgment dated 2022-07-20. Citation: TCN-2022-NCLAT-00339. Khayerbari Tea Company Ltd. (KTCL) and Santiprova Agro Products Pvt. Ltd. filed appeals…

- **Court:** NCLAT
- **Order date:** 20 Jul 2022
- **Citation:** TCN-2022-NCLAT-00339
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/khayerbari-tea-company-ltd-ktcl-vs-shyamal-kumar-bhattacharya-resolution-profess-4e66cd2f

## Summary

### Background

Khayerbari Tea Company Ltd. (KTCL) and Santiprova Agro Products Pvt. Ltd. filed appeals against orders rejecting their applications seeking direction to the Resolution Professional to consider their Expression of Interest (EOI). The Adjudicating Authority rejected the applications because the EOIs were submitted after the expiry of the last date of submission.

## Facts

Khayerbari Tea Company Ltd. (KTCL) filed Company Appeal (AT) (Insolvency) No. 466 of 2022 against an order dated 22.03.2022, where the Adjudicating Authority (National Company Law Tribunal), Kolkata Bench, rejected its application seeking direction to the Resolution Professional to consider and accept the Expression of Interest (EOI) dated 11.02.2022. The Adjudicating Authority rejected the application because the EOI was sent after the expiry of the last date of submission. Santiprova Agro Products Pvt. Ltd. filed Company Appeal (AT) (Insolvency) No. 467 of 2022, challenging a similar order dated 22.03.2022, where its I.A. seeking direction to the Resolution Professional to consider and accept the EOI dated 17.02.2022 was not acceded to. During the pendency of the

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority was correct in rejecting the applications of the Appellants …

**Ratio:** The Adjudicating Authority has the power to reject applications if the Expression of

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**Reasoning:** The Adjudicating Authority rejected the applications because the EOIs were submitted

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**Interpretation:** The interpretation is that the Adjudicating Authority's decision to reject the

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**Application:** The ratio and reasoning apply to the specific facts because the Appellants'

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## Parties

- **Judges:** Ashok Bh…; M. Satyanarayana…; +1 more
- **Appellants:** Khayerbari Tea…
- **Respondents:** Kumlai Tea and…; Shyamal Kumar…

## Timeline

- **2022-02-11 — EOI Date…**: Khayerbari Tea Company Ltd.'s…
- **2022-02-17 — EOI Date…**: Santiprova Agro Products Pvt. Ltd.'s…

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