The Hindu Business Line : Doom Dooma Tea registered office to be shifted

The Registrar of Companies has accepted the proposal sent by the BM Khaitan Group to shift the registered office of Doom Dooma Tea Co Ltd to Kolkata from Mumbai.

According to a senior official of the company, the whole process of shifting the company's registered office is likely to be over within the next 10-12 days.

Once this process is over, Doom Dooma Tea Co will be merged with McLeod Russel India Ltd, the flagship tea venture of the BM Khaitan Group.

The merger will help McLeod Russel to increase its total annual tea production to around 70 million kg. In all probability, by the beginning of the next financial year the process will be over.

Doom Dooma Tea Co earlier belonged to Hindustan Lever. In December last, it was acquired by the BM Khaitan Group. Before that, HLL called it Tea Plantation Division (Assam).

In April 2005, the division was spun off into a wholly owned subsidiary. Doom Dooma had four gardens and three factories.

McLeod Russel has also decided to shift the registered office of its other major acquisition, Williamson Tea Assam Ltd. The company belonged to the UK-based Magor group. The headquarters is being shifted from Guwahati to Kolkata.

Currently, McLeod Russel is in the process of raising approximately $30 million through the Qualified Institutions Placement (QIP) mode and it is likely to be over by the month-end.

More Stories on : Regulatory Bodies & Rulings | Tea | West Bengal

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