 "Future group, FRL")
Following the footsteps of Future Retail, which turned non-performing asset (NPA), Future Enterprises (FEL) is likely to slip into the bad loan category in the first quarter of FY23 if the company is unable to clear dues using the sale of stake in a general insurance firm.
FEL, which defaulted on payments to lenders and debenture holders in the last week of March, has a 30 day-curation period.
The chances of any improvement in financial position to repay dues are very dim, bankers.
A senior public sector banker said it sold the stake in Future Generali India Insurance Company (Future Generali) and added
