Future Enterprises has defaulted on interest payments of Rs 15.86 crore for its Non-Convertible Debentures (NCDs). The company has defaulted on interest payment of Rs 15.86 crore for a gross principal amount of Rs 327 crore. The Company is unable to service its obligations in respect of the interest on Non-Convertible Debentures due on September 20, 2020, since September 20, 2020 was holiday, interest was due on September 21, 2020. Earlier, the company had defaulted on debt repayment towards commercial paper.
Future Enterprises develops, owns and leases the retail infrastructure for the Group. The company also holds the Group’s investments in subsidiaries and joint ventures including insurance, textile manufacturing, supply chain and logistics.
