Future Enterprises (FEL) has defaulted on payment of Rs 29.33 crore as interest on non-convertible debentures (NCDs). The due date for payment was April 18, 2022. This is the third default by the Kishore Biyani-led Future group firm this month.
On April 12, FEL had informed the exchanges about default on payment of Rs 9.10 crore interest on NCDs and Rs 1.22 crore on April 15. The latest default is on the interest of securities issued for a sum of Rs 300 crore.
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.
