AI Structured Summary
Not yet generated for this judgment
Judgment
O R D E R
03.12.2024: Heard counsel for the parties.
Ms. Maninder Acharya, Ld. Sr. Counsel appearing for appellant and Shri Joy Saha, for the respondents.
This appeal has been filed against the order of the Adjudicating Authority dated 26.04.2024 in I.A. (IB) No. 8/KB/2023. The I.A. was filed by the State of West Bengal which prayers have been quoted in para-3 of the order which are reproduced below :-
a. To pass an order directing the Respondent No. 1 to keep the tea estate as morefully mentioned in paragraph 4 of this application form outside the purview of CIRP of the Corporate Debtor or outside the resolution plan submitted by the successful resolution applicant or outside any plan submitted by other resolution applicants.
b. To pass an order to restrain the respondent no. 2 from voting in any manner on the asset of the Applicant as more fully mentioned in Paragraph 4 of this application.
c. To pass an order to restrain the respondent no. 1 or the successful resolution applicant from dealing with the assets of the applicant as more fully mentioned in paragraph 4 hereinabove in any manner whatsoever.
d. To pass an ad-interim orders in terms of prayers above.
The Adjudicating Authority by the impugned order has dismissed the application. The Ld. Counsel for the respondent has submitted that in Company Appeal (AT)(Ins.) No(s). 593 of 2022 as well as other connected appeals which was filed by the Resolution Professional the issue was raised regarding the entitlement of the Resolution Professional to take possession of the tea gardens which were alleged assets of the corporate debtors and this Tribunal after hearing the appellants, Resolution Professional as well as the State of West Bengal has decided those appeals by final judgment dated 02.08.2024, that is subsequent to the impugned order. This Tribunal in paragraph- 121 has disposed of the appeal. Para-121 of the judgment is as follows:-
121.The orders rejecting the IAs of RP insofar as the aforesaid three Tea Gardens are concerned are unsustainable and deserve to be set aside. In view of the above, all the Appeal(s) are disposed of in following manner:
I. Company Appeal (AT) (Insolvency) No. 672 of 2021 is partly allowed. The order dated 28.05.2021 passed in IA No.1256/KB/2020 is partly allowed, insofar as Garganda Tea Garden is concerned. The order of the Adjudicating Authority with respect to other Tea Gardens, i.e., Hantapara, Tulsipara and Dumchipara is affirmed.
II. Company Appeal (AT) (Insolvency) No.593 of 2022 is partly allowed. Order dated 21.04.2022 in IA No.1111/KB/2021 set aside, insofar it relates to Tea Garden Kilcott. Rest of the order is affirmed.
III. Company Appeal (AT) (Insolvency) No.754 of 2022 is partly allowed. Order dated 09.05.2022 passed in IA No.665/KB/2021, insofar as it relates to Bagracote Div.I is set aside. Rest of the order is affirmed.
IV. Company Appeal (AT) (Insolvency) No.628 of 2022 and Company Appeal (AT) (Insolvency) No.907 of 2022 are dismissed.
V. It is held that Tea Gardens of Garganda, Kilcott and Bagracote are assets of the Corporate Debtor, to which the RP was entitled to be handed over the possession. However, in sequence of the events and facts that these three Tea Gardens having been run by Merico and Sammelan and in the Tea Gardens, thousands of workers are working, we are of the view that ends of justice will be served in holding that RP shall be deemed to be in possession of the aforesaid Tea Gardens and operation of these three Tea Gardens shall henceforth be under the supervision and control of the RP till the CIRP continues.
Parties shall bear their own costs.
In view of the judgment of this Tribunal which was subsequent in point of time to the issues which were raised by State of West Bengal in I.A. (IB) No. 8/KB/2023 the decision in IA has to follow the judgment of this Tribunal, hence the present appeal is also disposed of in terms of the judgment of this Tribunal dated 02.08.2024. The order impugned is modified and the appeal is disposed of in terms of the order dated 02.08.2024.
This Tribunal vide its judgment dated 02.08.2024 has already held that which are the tea gardens in which Corporate Debtor has subsisting which could have been the part of the assets of the CDs.
The appeal is disposed of accordingly.