Future Retail, Future Enterprises default on Rs 8,158-cr loan repayments

FRL said it has missed the due date for repayment of Rs 5,322.32 cr to lenders on account of the ongoing litigations with e-commerce major Amazon and other related issues

Two leading companies of the Kishore Biyani-led Future Group -- Future Retail and Future Enterprises -- on Friday collectively defaulted on loan repayments worth Rs 8,157.97 crore.

The due date for payment of Rs 2,835.65 crore by Future Enterprises Ltd (FEL) and Rs 5,322.32 crore by Future Retail Ltd (FRL) was March 31, 2022.

Last year, FRL and FEL along with several other Future Group companies had entered into a One Time Restructuring (OTR) scheme for COVID-hit companies with a consortium of banks.

FRL said it has missed the due date for repayment of Rs 5,322.32 crore to lenders on account of the