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Future Enterprises defaults on Rs 9.10 cr interest payment for NCDs

FEL has defaulted interest for the period between October 11, 2021, to April 10, 2022, a regulatory filing from the Future group firm said

For the three months ended December 2020, all Future group companies reported a combined revenue of Rs 3,228 crore and a loss of Rs 1,450 crore

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Future Group companies will be conducting meetings with their respective shareholders and creditors between April 20 to April 23, 2022, to seek their approval for the Rs 24,713 crore deal.

Press Trust of India New Delhi

2 min read Last Updated : Apr 12 2022 | 11:01 PM IST

Debt-ridden Future Enterprises Ltd (FEL) on Tuesday said it has defaulted on payment of Rs 9.10 crore interest on non-convertible debentures. The payment was due on April 11.

FEL has defaulted interest for the period between October 11, 2021, to April 10, 2022, a regulatory filing from the Future group firm said.

The gross principal amount on which the default has occurred is Rs 180 crore. "The Company is unable to service its obligations in respect of the interest on Non-Convertible Debentures was due on April 11, 2022," said FEL.

The debentures are secured and have a coupon rate of

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Topics : Future Enterprises Non convertible debentures Reliance Retail