Calcutta, Nov 14 :    Calcutta, Nov 14:  The board of Bishnauth Tea Co Ltd today cleared the sale of some of its unremunerative tea estates in Assam to retire a portion of its Rs 160 crore debt burden. A four-member committee, comprising S.K. Mitra, wholetime director and other directors like Aditya Khaitan, G. Momen and P.K. Kaul, has been formed to identify the gardens which can be put on the block. Mitra said that the company would like to bring down the debt burden to Rs 90-95 crore. Bishnauth Tea has 15 gardens in Assam with a total production of 18 million kg. Williamson Magor Ltd holds a 65 per cent stake in Bishnauth Tea, with group companies holding another 10 per cent. However, even as Bishnauth Tea passed a resolution to dispose off its unremunerative gardens and group company Eveready Industries Ltd having already announced its intention of disposing some of its tea estates in Darjeeling, Dooars and Assam, the board of George Williamson approved a proposal to acquire new gardens in Assam. A decision to this effect was taken at the company's board meeting here, officials said. While Williamson Tea Holdings of UK holds a 70 per cent stake in George Williamson, the Khaitans hold 8-9 per cent and the rest is held by the financial institutions and the public. The company has 17 tea estates in Assam with a total production of 20 million kg. Industry circles speculate that George Williamson plans to acquire all the tea estates of Eveready as well as Bishnauth Tea, as part of its strategy to consolidate its tea business. Mitra did not rule out the possibility of George Williamson acquiring the unremunerative gardens of Bishnauth Tea. 'If we get a good price we may sell off the gardens to them,' he added.