Future Enterprises defaults on interest payment

Future Enterprises (FEL), a part of the beleaguered Future Group, on Tuesday said it 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, it said in a regulatory update.