Tea firm McLeod Russel expects final debt restructuring plan in few months

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

McLeod Russel India, the country’s largest bulk tea producer, expects its debt-restructuring plan to be finalised in the next few months.

McLeod owes banks about Rs 1,800 crore and with unpaid interest, the total amount is said to be around Rs 2,300 crore. Bankers are fully in support of the company as it engages "very consciously" with them for a restructuring plan, said Aditya Khaitan, McLeod Russel chairman and managing director, while responding to shareholders' questions at the firm’s annual general meeting.

“Hopefully, in the next few months, we will be able to finalise the restructuring programme with the bankers