<h1>Lenders Transfer McLeod Russel's Rs 1,104.69 Crore Debt to NARCL at 36% Loss; Simplifies Creditor Negotiations</h1> A consortium of lenders has transferred McLeod Russel India Limited's debt of Rs 1,104.69 crore to the National Asset Reconstruction Company Limited (NARCL) for Rs 700 crore, taking a 36% loss. The debt transfer, structured as 15% cash and 85% security receipts over five years, faced no counterbids due to poor tea sector sentiments. This move simplifies negotiations for McLeod Russel, now dealing with three creditors instead of many. The debt was previously classified as non-performing due to financial struggles. The company operates 33 tea estates and employs over 50,000 people.