IndusInd Bank has acquired 4.79 per cent stake in embattled tea plantation firm ‘McLeod Russel India’ (MRIL) by invoking 50 lakh pledged shares of the company. Held by Ichamati Investments, equity shares of McLeod Russel India were pledged with IndusInd Bank for securing the outstanding dues of the tea plantation company. The bank has invoked the pledge held on these shares for recovery of its dues from MRIL.
IndusInd Bank is as one of the fastest-growing banks in the banking sector in India.