 "Future Enterprises defaults on Rs 86.18 lakh interest payment for NCDs")
Debt-ridden Future Enterprises Ltd (FEL) on Thursday said it has defaulted on interest payment of Rs 86.18 lakh for its non-convertible debentures.
The due date for payment was December 21, 2022, it said in a regulatory filing.
"The Company is unable to service its obligations in respect of the interest on Non-Convertible Debentures... due on December 21, 2022," it said.
The debentures have a coupon rate of 9.55 per cent per annum.
FEL has defaulted on interest payments for the period from June 21, 2022, to December 20, 2022.
The total amount of securities issued was Rs 18 crore.
Also Read
Lenders of FEL have also appointed an auditor for conducting a forensic audit of the firm. In recent times, the company has defaulted on payment of interest on several non-convertible debentures.
It is engaged in the business of manufacturing, trading, leasing of assets and logistics services. It used to develop, own and lease the retail infrastructure for the Future Group.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app