Get latest articles and stories on Latest News at LatestLY. Debt-ridden Future Enterprises Ltd (FEL) has defaulted on interest payment of Rs 4.10 crore for its non-convertible debentures. Latest News | Future Enterprises Defaults on Rs 4.10 Crore Interest Payment for NCDs.
The Company is unable to service its obligations in respect of the interest on Non-Convertible Debentures was due on June 20, 2022, the Kishore Biyani led firm said in its regulatory filing.
A plea seeking initiation of insolvency resolution proceedings against FRL was filed by Bank of India (BoI), the lead banker in the consortium of lenders to the company.