B. M. Khaitan Group company and bulk tea producer McLeod Russel India Ltd. (MRIL) has signed an agreement to sell three of its tea estates to the city-based Luxmi Tea Company for Rs 150 crore. While revealing more details about this deal, McLeod Russel said, it has executed an agreement for sale of specified assets of Addabarie Tea Estate, Mahakali Tea Estate and Dirai Tea Estate on April 22, 2019, as reported by various media sources.
Khaitan Group company has advised McLeod Russel India Limited for this deal. The advisory committee was led by a team of partner Padam Khaitan, partner Devidas Banerji, senior associate Shourya Sengupta and associate Sneh Lata.
Reports also mentioned that Khaitan had also advised the company in December 2018 on its sale of tea estates to MK Shah Exports.