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Dues recovery: lnduslnd Bank acquires 4.79% in McLeod Russel by invoking pledged shares : Rashtra News In June, lnduslnd Bank had acquired 70,67,500 equity shares of McLeod, forming 6.77% of paid-up equity share capital, by invoking pledged shares also for recovery of its dues.lnduslnd Bank on Thursday said it has acquired a 4.79% stake in debt-laden
A bulk of the one-time settlement money was to come from Calcutta's Carbon Resources, which was willing to buy 15 gardens in Assam capable of producing 18 million kg tea annually. However, banks failed to reach a consensus among themselves and the validity of the offer lapsed on September 30
ULFA, formed in 1979 demanding a “sovereign Assam,” carried out a reign of terror in Assam state in the late 1980s, including extortion, kidnappings and killings, especially targeting the state’s flourishing tea companies.
Company, promoted by Khaitan family of India, has signed agreement with Vietnamese company for sale of business for Rs 17 crore
McLeod Russel India Ltd., a bulk tea manufacturer, announced that it would sell Phu Ben Tea Company Ltd., its Vietnam subsidiary, for USD 2.15 million. The business would give TLK Agriculture Joint Stock Company (TLK) ownership of the entity. The company stated that the sale is anticipated to be finalised by December 24, 2023.