TCG, Apeejay interested in Assam Company, which has filed for insolvency

Hyderabad-based Megha Engineering & Infrastructures has also done so, with the necessary documents

Exceeding expectations of the lenders of Assam Company India Ltd, undergoing bankruptcy proceedings at the Guwahati bench of the National Company Law Tribunal (NCLT), the world’s first tea company has found at least 10 suitors.

Among those which have given an Expression of Interest (EOI), at least five are tea producers, while two are asset reconstruction companies (ARCs). The former comprise the diversified Apeejay Group, Warren Tea, Luxmi Tea Company that owns the Makaibari tea estate, MK Shah Exports and Dhunseri Petrochem. The last one is present in both tea and oil, a portfolio perfectly matching the potentially insolvent firm.