 "Bank moves NCLT to initiate insolvency proceedings against McLeod Russel")
Tea plantation companies in the country maybe heading towards a consolidated loss of around Rs 2000 crore this calendar year as all estates have been shut to contain spread of the deadly coronavirus.
While the estates were initially kept open with plantation companies argueing that the risk of infection was extremely low on the estates, the call was taken following the announcement of the 21-day shutdown by the government and various state governments passing orders for lockdown.
All of the 1422 registered tea estates and more than 250,000 micro-small planters have stopped production citing safety precautions for workers, unavailability of
