Future Enterprises defaults on Rs 1.41 cr interest payment for NCDs

Debt-ridden Future Enterprises Ltd (FEL) has defaulted on payment of interest of Rs 1.41 crore for its non-convertible debentures.

The due date for payment was June 6, 2022, Future Supply Chain Solutions Ltd said in a regulatory filing on updates received from its promoter Future Enterprises Ltd (FEL).

“The Company is unable to service its obligations in respect of the interest on Non-Convertible Debentures…,” it added.

The Kishore Biyani-led Future Group firm has defaulted on several payments in the last few months.

The latest default is on the interest of securities issued for a sum of Rs 29 crore.