Mcleod Russel India Limited has informed the Exchange regarding Change in Director(s) of the company.
MCLEODRUSS · price
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McLeod Russel India Limited's Board meeting on May 15, 2026 approved three key items: (1) One-Time Settlement with J.C. Flowers ARC for Rs. 150 crore against outstanding dues of Rs. 749.80 crore, representing ~20.58% of institutional loans, payable by June 30, 2027, with lender to issue no-dues certificate upon completion; (2) Re-appointment of Mr. Aditya Khaitan as Managing Director for 3 years from May 17, 2026, subject to shareholder approval; (3) Memorandum of Understanding for disposal of Mathura Tea Estates to Mr. Jayanta Kumar Sanyal for Rs. 34.19 crore as part-payment of debt under NARCL restructuring. The company had previously received NARCL sanction (April 9, 2026) covering ~75.02% of total debt restructuring.
The debt restructuring through OTS and NARCL significantly reduces the company's debt burden from Rs. 749.80 crore to Rs. 150 crore for the ARC portion, which is positive for shareholders as it improves the balance sheet. The asset sale of Mathura Tea Estates (3% of turnover) proceeds will go toward debt repayment, signaling continued deleveraging efforts.