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Regular-article-logo Friday, 18 July 2025

EVEREADY TO CONSIDER SALE OF TEA GARDENS ON FRIDAY 

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OUR BUREAU Published 06.11.00, 12:00 AM
Calcutta, Nov 6 :    Calcutta, Nov 6:  The board of Eveready Industries India Ltd (EIIL) will be meeting on November 10 to consider the sale of some of the tea estates subject to necessary approvals. 'We want to reorganise our tea business. Certain gardens are not giving us the desired results. So, we may sell them to either our group company or to someone outside,' said Aditya Khaitan, director of Eveready Industries who looks after the group's tea interests. The announcement confirmed The Telegraph report on Saturday that the Rs 832 crore batteries-to-tea conglomerate was planning to pull out of Darjeeling where it wants to sell all its gardens - Glenburn, Lingia, Nagri Farm and Soom. The buzz in the industry is that Ashok Lohia of Chamong Tea Ltd is the frontrunner in the race to acquire the gardens. Others in the fray include Sanjay Bansal of Ambootia Tea. Eveready has 26 gardens on Assam and West Bengal with a total tea production of 31,733 tonnes. One reason for putting the four Darjeeling gardens on the block is to raise funds to retire a part of the high-cost borrowings worth Rs 644.91 crore on which it bore an interest burden of Rs 83.48 crore in 1999-2000.    
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