McLeod Russel India

In August 2023, McLeod reached an understanding with Carbon Resources for the sale of tea estates. The size of the deal pegged at Rs 700 crore was to enable a one-time settlement

The company recently signed an agreement for selling its business in Vietnam to TLK Agriculture Joint Stock Company of Vietnam for $2.15 million

Subject to the completion of the sale, PBTCL would cease to be a subsidiary of BTHL and a step-down subsidiary of McLeod Russel

McLeod's crop in India is about 45 million kg (mkg) across 31 estates in Assam and two in Dooars

Jalans' cost of acquiring 5.03 per cent was about Rs 15 crore and they realized about Rs 11 crore from the sale

Revenue from operations in Q4FY23stood at Rs 226.04 crore as against Rs 254.24 crore a year back

Sources close to the development indicated that the settlement between McLeod promoters and IL&FS included a combination of payment of an amount and land

Meanwhile, even as the appeal process is being pursued in NCLAT, the Khaitans are understood to be engaging with IL&FS for a settlement

IL&FS sought to initiate CIRP against McLeod Russel in connection with a default in payment in 2019

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Revenues from operations at Rs 425.06 crore were lower by 13.93% from the same period last year

With two rival bids, the once powerful group that owns the world's largest tea producer is in danger of losing control of its last major asset

CMD Khaitan says banks have been very supportive and have come to a conclusion on what debt restructuring resolution should be

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Carbon Resources has offered an upfront payment of Rs 1,245 crore of an estimated outstanding bank debt of Rs 1,650 crore

The contours of the proposal are like this: of an outstanding bank debt of Rs 1,650 crore, the upfront payment being offered is Rs 1,245 crore

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On September 16, 2022, Carbon Resources (P) Ltd bought 4.95 million equity shares, representing 4.73 per cent, of total equity of MRIL

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Bankers support the company as it engages with them 'very consciously', says CEO Aditya Khaitan.