9911796707
TMI Blog2018 (10) TMI 1717X X X X Extracts X X X X X X X X Extracts X X X X ..... which the management is taken over by the Central Government or Tea Board before investigation of affairs of such company or otherwise. In this case, admittedly by Notification No. S. O. 260(E), dated January 28, 2016, Tea Board of India (Ministry of Commerce and Industries) has taken over the affairs and management of the corporate debtor tea company. This petition under section 9 of the I and B Code is not maintainable without consent of the Central Government - this petition under section 9 of the I and B Code cannot be admitted unless the operational creditor seeks consent from the Central Government as per section 16G(1)(c) of the Tea Act, 1953 - petition dismissed. - C. P. (IB) No. 308 /KB/ 2018. - - - Dated:- 5-10-2018 - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... paid by the corporate debtor, this petition to start the CIRP is filed. 4. The corporate debtor is served with the copy of this petition. They filed affidavit-in-reply. Besides the above contention as raised by them in the notice to reply, they additionally contended that similar application was filed by the operational creditor against them, which has been rejected by this authority by an order dated August 17, 2017. The second petition for the same relief is not maintainable. The operational creditor filed their rejoinder thereto. 5. I heard learned counsels for the operational creditor and corporate debtor at length. The following points of controversy are being raised for my consideration : (i) W ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rol of the Government and hence consent is not required ; and (ii) the provisions of section 16G(1)(c) of the Tea Act also not applicable in view of provisions of section 238 of the I and B Act. Moreover, intimation of Government Notification dated January 28, 2016 is stayed by the hon'ble High Court. 8. I have gone through the order of the hon'ble High Court wherein the above notification is challenged. It appears that validity of the notification dated January 28, 2016 is still under the consideration of the hon'ble Calcutta High Court in MAT No. 562 of 2016 and others alike matters. However, as an interim arrangement, the affairs of 7 tea estates have been handed over to the corporate debtor herein with further d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ting to insolvency and bankruptcy of the companies as well as individuals in India. Both statutes do not occupy one and same field. There are no inconsistent provisions in the Tea Act, 1953 which may give overriding effect of provisions of the I and B Code. Hence, I hold that provisions of section 238 of the I and B Code has no application in this case. 11. It is also brought to my notice by learned counsel for the corporate debtor that now the Central Government has initiated the process of sale of tea estates and expression of interest is called for. Be that as it may, I hold that the provisions of the I and B Code are not applicable unless the operational creditor seeks consent of the Central Government to start the CIRP of ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
