McLeod Russel sale plan may draw interest from Assam Company's suitors

The acquisition of McLeod Russel gardens may be less complex than Assam Company, which is undergoing insolvency proceedings

McLeod Russel’s proposed sale of some gardens in Assam and exit from the Dooars region may take the sheen off the Assam Company sale, which comes with the trappings of regulations of the Insolvency and Bankruptcy Code (IBC).

For tea producers looking for expansion, who found it difficult to bid for Assam Company India, McLeod provides a second chance to buy higher-end gardens; for others, it opens up options. 

According to McLeod executives, the acquisition of their gardens may be smoother and less complex than those of Assam Company, where allegations have started stacking up in the NCLT as well