Future Retail, Future Enterprises Default On Rs 8,158 Crore Loan Repayments
NDTV
Future Retail Limited and Future Enterprises Limited on Friday collectively defaulted on loan repayments worth Rs 8,157.97 crore
Two leading companies of the Kishore Biyani-led Future Group - Future Retail Limited (FRL) and Future Enterprises Limited (FEL) - on Friday collectively defaulted on loan repayments worth Rs 8,157.97 crore.
The due date for payment of Rs 2,835.65 crore by FEL and Rs 5,322.32 crore by FRL was March 31, 2022.
Last year, FRL and FEL along with several other Future Group companies had entered into a One Time Restructuring (OTR) scheme for COVID-hit companies with a consortium of banks.
FRL said it has missed the due date for repayment of Rs 5,322.32 crore to lenders on account of the ongoing litigations with e-commerce major Amazon and other related issues.
