Future Enterprise (FEL) has defaulted on repayment of Rs 2,911.51 crore of loans to its lenders, missing 30 days of review period. The company was required to pay an aggregate amount of Rs 2,911.51 crore between March 23 and March 31, 2022, to various consortium banks and lenders.
The Kishore Biyani-led Future group had a review period of 30 days as per the scheme of One Time Restructuring (OTR) for COVID-hit companies with its consortium of banks.
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.
