In a move that underscores continuity and financial stewardship, McLeod Russel India Limited disclosed that its Board has approved the appointment of Pradip Bhar as an Additional Director with effect from 27 April 2026 and has designated him as Whole-Time Director and Chief Financial Officer for a three-year term, subject to shareholder approval and applicable laws. Bhar, who has spent decades in the tea industry and has been serving as CFO since July 2019, is credited with steering the company through critical financial and legal matters and driving cost discipline during a period of intense restructuring.
Tied to this leadership evolution, the company also announced three MoUs for the proposed disposal of assets at Nya Gogra, Rupajuli, and Boroi Tea Estates as part of a debt-resolution strategy facilitated by National Asset Reconstruction Company Limited through IDRCL. The mooted proceeds are substantial: approximately Rs 44.79 crore from Nya Gogra, Rs 16.76 crore from Rupajuli, and Rs 27.30 crore from Boroi, with buyers named as Bengal Tea & Fabrics Limited, Khona Tea Estate LLP, and Jatinga Agro-Tech Private Limited respectively. All transactions are subject to due diligence and requisite approvals, aligning with the broader restructuring framework to stabilize the balance sheet.
Taken together, the moves signal an integrated approach to governance and turnaround—an internal, long-tenured executive stepping into a broader leadership role while the company pursues asset monetization to address debt and liquidity headwinds. As McLeod Russel navigates a complex realignment, Bhar’s expanded responsibilities could prove pivotal in translating strategic ambitions into tangible financial resilience.