IndusInd Bank has acquired over 70 lakh shares in tea company Mcleod Russel after invoking pledged shares of the company to recover its dues.
Equity shares of the tea company, held by Ichamati Investments, were pledged with the bank for securing the outstanding dues of borrower Mcleod Russel India (MRIL).
IndusInd Bank is as one of the fastest-growing banks in the banking sector in India.