Future Enterprises (FEL) has defaulted on payment of interest of Rs 6.07 crore for its non-convertible debentures (NCDs). The company is unable to service its obligations in respect of the interest on NCDs was due on June 20, 2022. The company has defaulted on interest payment for the period between December 20, 2021 to June 19, 2022. The debentures are secured and have a coupon rate of 10.15 per cent per annum.
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.
