Eastern Housing Udyog Finance Company Limited vs Arcuttipore Tea Co. Limited

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

2026 Supreme(Online)(NCLT) 698

NATIONAL COMPANY LAW TRIBUNAL
Bidisha Banerjee, J, Siddharth Mishra, T
Eastern Housing Udyog Finance Company Limited – Appellant
Versus
Arcuttipore Tea Co. Limited – Respondent

Advocates:
Mr. Shaunak Mitra, Adv.
For Resolution Professional
Mr. Hansraj Jaria, RP
Mr. Mohit Sharma, Adv.
Mr. Rishav Banerjee, Adv.
For the Applicant in IA(I.B.C)/1583(KB)2024
Mr. Rahul Sharma, Adv.
Mr. Nirmalya Dasgupta, Adv.
For the Respondent No.5
Ms. Swati Dalmia, Adv.
For the Respondent No.7
Mr. Orijit Chatterjee, Adv.
Mr. Shubham Raj, Adv.
Ms. Safura Ahmed, Adv.
Ms. Swapna Choubey, Adv.
For the Respondent Nos.9 to 13 in IA(I.B.C)/1976(KB)2024
Mr. Navneet Sewak, Adv.
Ms. Hritika Sharma, Adv.

ORDER

Per Bidisha Banerjee, Member (Judicial):

1. The Court convened through hybrid mode.

2. Ld. Counsel for the parties were heard at length.

3. This application has been preferred by the Resolution Professional of Arcuttipore Tea Co. Limited (CD) to seek approval of Resolution Plan in its entirety along with all annexures, Schedule, Appendixes including the claims contained therein as submitted by Premier Ferro Alloys & Securities Limited, the Successful Resolution Applicant (SRA in short) along with reliefs and concessions sought for under the Plan.

4. The Resolution Plan of Premier Ferro Alloys & Securities Limited has been approved by CoC by 90.44% vote on 20.06.2025 and Premier Ferro Alloys & Securities Limited was declared as Successful Resolution Applicant (SRA) in respect of the Corporate Debtor.

5. Submissions of the Applicant / Resolution Professional

a. The CIRP of Corporate Debtor commenced on 15.12.2023. In the said order, Mr. Pranab Kumar Chakrabarty having IBBI No. IBBI/IPA-003/IP-N00088/2017-18/10826 was appointed as the Interim Resolution Professional.

b. The IRP has made Public Announcement on April 5 & 6, 2024, in Business Standard(English), Aajkaal (Bengali) in Kolkata

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2026 Supreme(Online)(NCLT) 698

NATIONAL COMPANY LAW TRIBUNALBidisha Banerjee, J, Siddharth Mishra, TEastern Housing Udyog Finance Company Limited – AppellantVersusArcuttipore Tea Co. Limited – Respondent

Cases Referred (3)

NATIONAL COMPANY LAW TRIBUNAL
Bidisha Banerjee, J, Siddharth Mishra, T
Eastern Housing Udyog Finance Company Limited – Appellant
Versus
Arcuttipore Tea Co. Limited – Respondent