Future Enterprises (FEL) has defaulted on payment of Rs 9.10 crore interest on non-convertible debentures (NCDs). The payment was due on April 11. FEL has defaulted interest for the period between October 11, 2021 to April 10, 2022.
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.
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.
