Page 3 - Mcleod Russel

Lenders take forward their resolution plan for McLeod Russel outside NCLT

Led by ICICI Bank, the largest lender, they have asked LSI Financial Services to do a feasibility study on the health gardens and the firm's EBITDA prospects

Bank moves NCLT to initiate insolvency proceedings against McLeod Russel

Sources said the hearing on this matter will come up next month

Eveready not under stress, working to revive profitability: Khaitan

Eveready managing director, Amritanshu Khaitan did not confirm a deal with Duracell but said that the company continues to look at opportunities and discuss various joint ventures or strategic tie-ups

McLeod Russel moves NCLT to resume tea estate sale to help it repay dues

Tribunal had stayed the sale after a financial creditor moved Kolkata bench of NCLT to recover dues of Rs 100 cr; McLeod says sale is part of restructuring plan, will help revive company

Eveready's plan to sell battery business to pare debt tied in legal knots

Battery division sell-off may be delayed

Shareholders defeat all four of McLeod Russel's special resolutions

After the AGM move, the tea company may be forced to change the restructuring plan

Lending to group firm was a mistake, says McLeod Russel's Khaitan

Shareholders said McNally's failure to repay the borrowings direly affected McLeod's financial position

McLeod Russel director resignations raise eyebrows; SES red-flags trend

Several independent directors quit citing health reasons but continue to serve on other boards

McLeod Russel seeks shareholders' nod on chairman's pay, recovery waiver

The move comes at a time when the company is facing severe financial stress and is approaching the banks for loan restructuring

McLeod Russel rejigs board amidst potential insolvency proceedings

Pradip Bhar, a cost accountant by profession, who was associated with WMG for over 31 years, has taken charge as the firm's new CFO

Lenders to troubled McLeod Russel go to SBI Caps for loan restructuring

A similar restructuring of loans is being considered by the lenders for another Williamson Magor entity, McNally Bharat Engineering

Auditor flags doubt on McLeod Russel's ability to stay in business

The auditor has also stated that the financial statement prepared by the company is not in accordance with the requirements of Regulation 33 of the Sebi

McLeod Russel auditor Deloitte concerned over company's solvency

According to Deloitte, the Williamson Magor Group company's liabilities exceed assets by Rs 1,435.66 crore

McLeod Russel hits 52-week low as lenders start invoking pledge

In a regulatory filing with BSE, McLeod said during June 10-11, 3,800,000 shares of the company, representing 3.64% of the company's share capital has been invoked against a total loan of Rs 400 cr

Promoters lose 4.32% stake in McLeod Russel as ABFL invokes pledged shares

Stake now stands at 38.39%; Woodside Parks, the promoter group's investment wing, loses its entire holding

Promoters of McLeod Russel pledge nearly all of their shareholding

In separate regulatory filings with the BSE, the company said on April 30, another two promoter group companies pledged their shares

McLeod Russel shares tumble 8.9% to Rs 37.85 after ratings downgrade

Sources said a significant part of McLeod's debt would come up for repayment in the next 3-6 months, which would keep its liquidity position under stress

ICRA downgrades McLeod Russel on falling margins, exposure to group cos

The ratings downgrade implies a reduction of assurances in McLeod's ability of timely servicing its financial obligations and credit risks

McLeod Russel posts 20.59% fall in net profit in Q3 after estate sales

The Tea Board had ordered compulsory closure of gardens and factories so that sub-standard tea is flushed out of the market

McLeod locks deal with Goodricke to sell two more tea estates in Assam

Sources estimated the Harchurah tea estate to be valued at Rs 360 per kilo for and the Bargang tea estate at Rs 350 per kilo