# In the matter of Hanuman Tea Co Limited

> NCLT judgment dated 2025-04-29. Citation: TCN-2025-NCLT-01079. Sudhir Credit Private Limited filed an application to intervene in T.P. No. 160/KB/2024 and…

- **Court:** NCLT
- **Order date:** 29 Apr 2025
- **Citation:** TCN-2025-NCLT-01079
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/hanuman-tea-co-limited-0db8e90e

## Summary

### Background

Sudhir Credit Private Limited filed an application to intervene in T.P. No. 160/KB/2024 and initiate Corporate Insolvency Resolution Process (CIRP) against Hanuman Tea Company Limited, which is already in liquidation. Sudhir Credit Private Limited claims to be a secured creditor by virtue of assignment from Bank of Baroda.

## Facts

The applicant, Sudhir Credit Private Limited, is a secured creditor of Hanuman Tea Company Limited, which is undergoing liquidation.

In 1990, Hanuman Tea Company Limited secured financial assistance from Bank of Baroda through various loan agreements, including a mortgage on assets.

In 2014, Bank of Baroda transferred its rights, title, and interest in the loan agreement to Sudhir Credit Private Limited for Rs. 54.56 crores.

As of December 2024, Sudhir Credit Private Limited's total claim, including interest, amounts to approximately Rs. 307.24 crores.

The petitioning creditor, Pawan Trading Company, has not taken any action in either the High Court or the Tribunal.

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## Issues and analysis

### Issue 1: Whether the applicant, Sudhir Credit Private Limited, can intervene in the existing proceedings and …

**Ratio:** Section 434 of the Companies Act 2013 allows for the transfer of pending proceedings,

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**Reasoning:** The Tribunal considered the applicant's claim as a secured creditor and the inaction of

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**Interpretation:** The Tribunal interpreted Section 434 to allow for the continuation of

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**Application:** The Tribunal applied Section 434 to allow Sudhir Credit Private Limited to

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## Parties

- **Judges:** BIDISHA BA…; Madhu S…
- **Appellants:** Sudhir Credit…
- **Respondents:** Hanuman Tea…; Pawan Trading…; +1 more
- **Other parties:** Ashish…
- **Advocates:** Rishav Ba…; Saubhik Cho…; +2 more

## Timeline

- **2025-04-29 — Date of Prono…**: Date of the order passed by the…
- **2025-06-10 — Filing of Periodical…**: The IRP/RP is required to file…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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