Business Update15 May 2026, 04:00 pm
Mcleod Russel: ₹150 Cr OTS Accepted; Aditya Khaitan Re-appointed
AI Summary
Mcleod Russel India Ltd's board approved a One-Time Settlement (OTS) of ₹150 crores with J.C. Flowers Asset Reconstruction Private Limited (JCF ARC) for settling outstanding dues, representing approximately 20.58% of the total institutional loan as of December 31, 2025. The settlement is payable in tranches by June 30, 2027. The board also approved the re-appointment of Mr. Aditya Khaitan as Managing Director for three years starting May 17, 2026, and approved the execution of a Memorandum of Understanding (MoU) for the proposed disposal of assets of Mathura Tea Estates for part-payment of debt.
Key Highlights
- Mcleod Russel accepts ₹150 Cr OTS from JCF ARC, payable by June 30, 2027.
- OTS represents approx. 20.58% of total institutional loan as of Dec 31, 2025.
- Aditya Khaitan re-appointed as Managing Director for 3 years from May 17, 2026.
- MoU approved for disposal of Mathura Tea Estates assets for debt payment.
- NARCL sanction letter obtained on April 9, 2026, representing approx. 75.02%.