Calcutta: The corporate insolvency resolution process of Assam Company continues to be dogged by controversies over the conditions set in the tender, with one more company seeking to bring down the eligibility criteria of the bidders.
James Warren Tea Ltd argued before the company tribunal on Monday that the resolution professional (RP) running the insolvency procedure of Assam Co did not fix the tender condition in accordance with the provisions of the Insolvency & Bankruptcy Code, 2016.
It is the second company after MK Shah Exports Ltd to challenge the criteria set by RP, Kannan Tiruvengandam, and the committee of creditors of Assam Co.
MK Shah received a favourable order from the Guwahat…
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