Loan & Debt15 May 2026, 03:56 pm
Mcleod Russel: ₹150 Cr OTS Accepted from JCF ARC
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) to settle 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 company had previously obtained a sanction letter from National Asset Reconstruction Company Ltd (NARCL) for restructuring approximately 75.02% of its debt. The board also approved the re-appointment of Mr. Aditya Khaitan as Managing Director and the execution of a 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, settling 20.58% of institutional loan.
- Settlement value of ₹150 crores is payable by June 30, 2027.
- Aditya Khaitan re-appointed as Managing Director for 3 years.
- MoU approved for disposal of Mathura Tea Estates assets for debt payment.
- Company obtained Sanction Letter from NARCL on 9 April 2026 representing approx. 75.02% for the restructuring of debt.