Mcleod Russel Signs MoU for Corramore Tea Estate Asset Disposal

Mcleod Russel India Ltd has entered into a Memorandum of Understanding (MoU) for the disposal of assets of its Corramore Tea Estate in Assam. This move is part of a debt reduction strategy, with proceeds intended for part-payment of debt to National Asset Reconstruction Company Limited (NARCL) via India Debt Resolution Company Limited (IDRCL). The Corramore Tea Estate contributed 1.80% of the company's total turnover in FY26, amounting to ₹1,744.25 Lakhs. The transaction is valued at ₹26.16 Crores, subject to due diligence and necessary approvals, with an expected completion date of October 31, 2026. The buyer is Krishnabehari Tea Co Ltd, and the transaction is not considered a related party transaction.