Mcleod Russel India Limited has informed the Exchange about Sale or disposal
MCLEODRUSS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
McLeod Russel India Limited's Board meeting on April 27, 2026 approved two key items. First, Mr. Pradip Bhar (68 years old, with 39+ years in tea industry) was appointed as Additional Director and Whole-Time Director designated as Whole-Time Director and CFO for 3 years, subject to shareholder approval. He was already serving as CFO since July 2019. Second, the company entered into MoUs for proposed disposal of three tea estates - Nya Gogra, Rupajuli, and Boroi - situated in Assam, for part-payment of debt under the NARCL/IDRCL debt restructuring plan. Expected sale proceeds total approximately Rs. 88.85 crore (Rs. 44.79 crore for Nya Gogra, Rs. 16.76 crore for Rupajuli, and Rs. 27.30 crore for Boroi). The transactions are not related party transactions and buyers are not from promoter group. Completion is expected by May 30, 2026.
The appointment of Mr. Bhar as both Director and CFO consolidates leadership continuity during the debt resolution process. The asset sales represent part of the company's debt restructuring strategy, reducing leverage but also reducing future revenue streams as these estates contributed about 6% of total turnover.