Future Enterprises (FEL) has defaulted on payments of interest of two non-convertible debentures (NCDs) totalling Rs 12.68 crore. The due date for payment was August 17, 2022. The company is unable to service its obligations in respect of the interest on Non-Convertible Debentures due on August 17, 2022. The debentures are secured with a coupon rate of 9.60 per cent per annum. The interest amount was payable for the period between February 16 and August 17, 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.
