At meeting held on 29 April 2021
The Board of Future Consumer at its meeting held on 29 April 2021 has approved a resolution plan to restructure the existing secured and unsecured financial debt from the bankers of the Company, as permitted under a 'Resolution Framework for COVID 19 related stress' announced by the Reserve Bank of India.The said resolution plan has been approved by the Board, subject to final approval from the lenders of the Company.
It may be noted that non-convertible debentures (NCDs) issued by the Company are not part of the aforesaid resolution plan.
Pursuant to the implementation of resolution plan for Existing Debt, the Board expects that the Company would recover from the financial stress caused by the COVID 19 pandemic, within the resolution timeframe.
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