McLeod Russel India lenders likely to discuss Carbon Resources proposal

The contours of the proposal are like this: of an outstanding bank debt of Rs 1,650 crore, the upfront payment being offered is Rs 1,245 crore

McLeod Russel
Premium

Sources close to the development said that the meeting was likely over the next couple of days

Ishita Ayan Dutt Kolkata
Lenders to McLeod Russel India will meet shortly to discuss a proposal from Carbon Resources to clear outstanding debts of banks and take charge of the company.

On Friday, the Jalan family-owned Carbon Resources Private Limited sent a non-binding letter of intent (LOI) for debt resolution of McLeod Russel and acquiring a controlling stake in the country’s largest bulk tea producer.

Sources close to the development said that the meeting was likely over the next couple of days.

The contours of the proposal are like this: of an outstanding bank debt of Rs 1,650 crore, the upfront payment being offered is Rs 1,245

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Sep 20 2022 | 8:08 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com