Mcleod Russell accepts OTS of Rs 150 cr from JCF ARC

Kolkata: As part of its restructuring, Mcleod Russell India has accepted a one-time settlement sanction of Rs 150 crore from JC Flowers Asset Reconstruction (JCF ARC).JCF ARC is acting as trustee of JCF YES Trust for settlement of the company's outstanding dues and represents about 20.6% in value of the total institutional loan as on Dec 31, 2025. "As earlier informed, we have already obtained sanction letter from National Asset Reconstruction Company Ltd (NARCL) representing approximately 75% for the restructuring of debt of the company. The settlement value of the OTS with JCF ARC is Rs 150 crore payable in tranches by June 30, 2027," the company said in a stock exchange filing.YES Bank had earlier disbursed various credit facilities to Mcleod Russell. These facilities were later assigned to JCF ARC, acting in its capacity as trustee of JCF YES Trust. The outstanding dues under these facilities stood at Rs 749.8 crore as on March 31. "The company has agreed to settle the aforesaid outstanding dues for an aggregate amount of Rs 150 crore, payable in tranches by June 30, 2027, in compliance with other terms and conditions," it added.The company has also approved execution of an MoU for disposal of assets of Mathura Tea Estates for part-payment of debt under the sanction letter of NARCL.Earlier, Mcleod Russell India sold three tea estates to repay part of its debt stock — Nya Gogra Tea Estate, Rupajuli Tea Estate and Boroi Tea Estate. The total revenue from those asset sales was around Rs 88 crore.