McLeod Russel India Ltd's equity shares have been delisted from the Calcutta Stock Exchange (CSE) effective July 17, 2026. The voluntary delisting was approved by the exchange following an application submitted by the company's Board of Directors. This move does not impact the company's listing status on other major stock exchanges.

The delisting was executed under the SEBI (De-listing of Equity Shares) Regulations, 2021. The CSE issued a notice, Ref. No. CSE/LD/DL/18156/2026, on July 16, 2026, confirming the approval. Consequently, the shares bearing CSE Scrip Code 23930 and 10023930 have been removed from the official list of the exchange.

mcleod russel had initially decided to file for voluntary delisting from the CSE during a Board Meeting held on August 14, 2025. The recent approval marks the conclusion of this process. The company's shares will continue to be traded on BSE Limited (Scrip Code: 532654) and National Stock Exchange of India Limited (Scrip Code: MCLEODRUSS).

The disclosure confirms that the delisting from the CSE will have no material impact on the shareholders. Trading and liquidity for the company's equity shares remain unaffected on the BSE and NSE platforms. A copy of the CSE notice has been made available on the company's official website.

The National Company Law Tribunal (NCLT), Kolkata bench, has dismissed the insolvency application filed by National Asset Reconstruction Company Limited (NARCL) against McLeod Russel as withdrawn, granting the creditor liberty to revive the plea if the debt restructuring process fails. The withdrawal follows a sanction letter dated April 2, 2026, issued by NARCL to the company for restructuring debts amounting to approximately Rs.444.55 crores. The company received communication regarding the NCLT order via email on July 14, 2026, from its advocate, while a certified copy of the order remains awaited and has not yet been uploaded on the official NCLT website as of the date of disclosure.

NARCL, acting through its attorney India Debt Resolution Company Limited, had filed the application under Section 7 of the Insolvency and Bankruptcy Code, 2016. The entity was the assignee of the debt originally held by HDFC Bank Limited, with the alleged default of approximately Rs.444.55 crores forming the basis for the filing before the tribunal.

Restructuring Details

The decision to withdraw the application was driven by the restructuring terms outlined in the sanction letter and subsequent modifications issued by NARCL. The development provides temporary relief to the tea major as it navigates the restructuring of its financial liabilities. The liberty to revive the application ensures that insolvency proceedings can be reinstated should the restructuring efforts not succeed.

The key entities involved in the proceedings are outlined below: