September: Future Enterprises defaults on Rs 126.13 crore.
- Debt-ridden Future Enterprises defaulted on Rs 126.13 crore in September, including Rs 98.35 crore for NCDs and Rs 27.78 crore to banks, under a one-time restructuring (OTR) programme.
- Future Enterprises Ltd. (FEL) and its consortium of banks and lenders joined the RBI-mandated OTR programme for COVID-19-hit enterprises on October 27, 2020.
On September 30, 2022, OTR banks and lenders were owed Rs 126.13 crore.
- “The firm was not able to satisfy the aforementioned commitments to banks and lenders, on the Due Date,” FEL said in a regulatory statement Saturday.
- It defaulted on IDBI Bank, Indian Bank, and Central Bank of India term loans of Rs 15.76 crore, Rs 9.35 crore, and Rs 2.65 crore, respectively.