{"id":4490,"date":"2022-06-09T12:23:00","date_gmt":"2022-06-09T12:23:00","guid":{"rendered":"https:\/\/newdelhimart.com\/?p=4490"},"modified":"2022-06-09T12:23:00","modified_gmt":"2022-06-09T12:23:00","slug":"future-enterprises-defaults-on-rs-1-41-crore-interest-payment-for-ncds","status":"publish","type":"post","link":"https:\/\/apkwebtech.com\/site\/future-enterprises-defaults-on-rs-1-41-crore-interest-payment-for-ncds\/","title":{"rendered":"Future Enterprises defaults on Rs 1.41 crore interest payment for NCDs"},"content":{"rendered":"\n<p>Debt-ridden&nbsp;<a href=\"https:\/\/retail.economictimes.indiatimes.com\/tag\/future+enterprises+ltd\">Future Enterprises Ltd<\/a>&nbsp;(<a href=\"https:\/\/retail.economictimes.indiatimes.com\/tag\/fel\">FEL<\/a>) 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,&nbsp;<a href=\"https:\/\/retail.economictimes.indiatimes.com\/tag\/future+supply+chain+solutions+ltd\">Future Supply Chain Solutions Ltd<\/a>&nbsp;said in a regulatory filing on updates received from its promoter&nbsp;<a href=\"https:\/\/retail.economictimes.indiatimes.com\/tag\/future+enterprises\">Future Enterprises<\/a>&nbsp;Ltd (FEL).<\/p>\n\n\n\n<p>&#8220;The Company is unable to service its obligations in respect of the interest on Non-Convertible Debentures&#8230;,&#8221; it added.<\/p>\n\n\n\n<p>The Kishore Biyani-led&nbsp;<a href=\"https:\/\/retail.economictimes.indiatimes.com\/tag\/future+group\">Future Group<\/a>&nbsp;firm has defaulted on several payments in the last few months.<\/p>\n\n\n\n<p>The latest default is on the interest of securities issued for a sum of Rs 29 crore.<\/p>\n\n\n\n<p>FEL has defaulted on interest payment for the period December 12, 2021 to June 5, 2022, it said.<\/p>\n\n\n\n<p>The debentures are secured and have a coupon rate of 9.8 per cent per annum.<\/p>\n\n\n\n<p>In April, FEL had informed the exchanges about a default of Rs 2,835.65 crore towards its consortium of banks. Its due date was March 31, 2022.<\/p>\n\n\n\n<p>FEL was part of the 19 group companies operating in retail, wholesale, logistics and warehousing segments, which were supposed to be transferred to&nbsp;<a href=\"https:\/\/retail.economictimes.indiatimes.com\/tag\/reliance\">Reliance<\/a>&nbsp;Retail as part of a 24,713 crore deal announced in August 2020.<\/p>\n\n\n\n<p>The deal was called off by the billionaire Mukesh Ambani-led&nbsp;<a href=\"https:\/\/retail.economictimes.indiatimes.com\/tag\/reliance+industries+ltd\">Reliance Industries Ltd<\/a>&nbsp;in April.<\/p>\n\n\n\n<p><strong>Source-https:\/\/retail.economictimes.indiatimes.com\/news\/industry\/future-enterprises-defaults-on-rs-1-41-crore-interest-payment-for-ncds\/92094008<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Debt-ridden&nbsp;Future Enterprises Ltd&nbsp;(FEL) has defaulted on payment of interest of Rs 1.41 crore for its non-convertible debentures. The due date[&#8230;]<\/p>\n","protected":false},"author":1,"featured_media":4500,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_joinchat":[],"footnotes":""},"categories":[3],"tags":[],"class_list":["post-4490","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"aioseo_notices":[],"a3_pvc":{"activated":false,"total_views":0,"today_views":0},"_links":{"self":[{"href":"https:\/\/apkwebtech.com\/site\/wp-json\/wp\/v2\/posts\/4490","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/apkwebtech.com\/site\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/apkwebtech.com\/site\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/apkwebtech.com\/site\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/apkwebtech.com\/site\/wp-json\/wp\/v2\/comments?post=4490"}],"version-history":[{"count":0,"href":"https:\/\/apkwebtech.com\/site\/wp-json\/wp\/v2\/posts\/4490\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/apkwebtech.com\/site\/wp-json\/wp\/v2\/media\/4500"}],"wp:attachment":[{"href":"https:\/\/apkwebtech.com\/site\/wp-json\/wp\/v2\/media?parent=4490"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/apkwebtech.com\/site\/wp-json\/wp\/v2\/categories?post=4490"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/apkwebtech.com\/site\/wp-json\/wp\/v2\/tags?post=4490"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}