In April this year, BoI had moved the tribunal seeking to initiate insolvency resolution proceedings against FRL, which has defaulted on loan repayments.
"The Company is unable to service its obligations in respect of the interest on Non-Convertible Debentures was due on June 24, 2022," FEL said in a regulatory filing.
Debt-ridden Future Enterprises Ltd (FEL) has defaulted on interest payment of Rs 4.10 crore for its non-convertible debentures.
The due date for payment was June 24, 2022, FEL said in a regulatory filing. "The Company is unable to service its obligations in