Future Enterprises (FEL) has defaulted on an interest payment of Rs 1.42 crore due on Non-Convertible Debentures (NCDs). The company is unable to service its obligations in respect of the interest on NCDs due on June 6, 2022. The interest payment was due for 182 days between December 6, 2021, and June 5, 2022, for a principal amount of Rs 29 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.
