Mcleod Russel India Limited has informed the Exchange about Sale or disposal
MCLEODRUSS · price
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McLeod Russel India Limited's Board approved three key resolutions on May 15, 2026. First, the company accepted a One-Time Settlement (OTS) from J.C. Flowers ARC for Rs. 150 crores to settle outstanding dues of Rs. 749.80 crore, payable in tranches by June 2027, representing about 20.58% of total institutional loan. Second, the company entered into an MoU to dispose of Mathura Tea Estates for Rs. 34.20 crores to a private buyer (Mr. Jayanta Kumar Sanyal) for part-payment of debt as per the NARCL sanction letter. Third, Mr. Aditya Khaitan was re-appointed as Managing Director for another 3 years effective May 17, 2026, subject to shareholder approval. The Mathura Tea Estates contributed 3% of company turnover (Rs. 27 crore) in FY 2024-25.
The OTS settlement will reduce the company's debt burden by approximately Rs. 600 crores, providing significant financial relief. The asset sale and debt restructuring with NARCL (covering 75.02% of debt) indicate the company is actively working to resolve its stressed debt situation, which could be positive for shareholders if successfully executed.