Andrew Yule & Company Ltd. (BSE:526173); Jay Shree Tea & Industries Ltd. (BSE:509715); Ambootia Group; and Bagaria Business Pvt Ltd. have shown interest in becoming strategic investors in five tea estates that have been put on the block by West Bengal Tea Development Corporation Ltd. Rungmook-Cedars, Rangaroon and Pandam - of the five tea estates that have been put under hammer are located in Darjeeling. Hilla and Mahua - are located in Dooars. Around 3,000 people are employed in these five gardens."We are keen to take the management control of Rangaroon and Pandam tea estates in Darjeeling.

We have already submitted our proposal to the industry minister. Even the labour unions in these two gardens want us to take over the estates," Kallol Datta, Chairman and Managing Director, Andrew Yule, said. The government will shortly appoint an expert to advise the government on whether to stay invested in the estates or not.

The loss made by the five estates is estimated at INR 2.25 billion. Each year, the gardens run up cumulative loss of INR 250 million. DP Maheshwari, Managing Director at Jay Shree Tea & Industries, said: "We are interested but first we have to go through the terms of reference." Ambootia Group too is interested in Darjeeling gardens.

Chairman Sanjay Bansal succeeded in turning around all 14 estates of the company that were in the red when he took charge."The productivity of these gardens - which are on the block - is very low and they also have liabilities and legal cases against them. If the government takes care of liabilities, then we will definitely give a thought to become a strategic investor. Let the government first give us the terms of reference," he said.

Sheo Sankar Bagaria, Managing Director of Bagaria Group that owns three estates in Darjeeling and one in Cachar, is also keen to become a strategic investor."We want to expand our Darjeeling operations," said Bagaria.