Future Enterprises (FEL) has defaulted on a principal amount of Rs 126.13 crore in September, which includes payment obligation of Rs 98.35 crore for NCDs and Rs 27.78 crore to banks, under a one-time restructuring (OTR) scheme.
FEL had entered into the OTR scheme for COVID-hit companies with its consortium of banks and lenders on October 27, 2020, as per the RBI guidelines. The due date for payment of the principal amount of Rs 126.13 crore to various banks and lenders, who were part of OTR scheme, was on September 30, 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.
