 "Future group, FRL")
Debt-ridden Future Enterprises Ltd (FEL) on Tuesday said it has defaulted on payment of Rs 9.10 crore interest on non-convertible debentures. The payment was due on April 11.
FEL has defaulted interest for the period between October 11, 2021, to April 10, 2022, a regulatory filing from the Future group firm said.
The gross principal amount on which the default has occurred is Rs 180 crore. "The Company is unable to service its obligations in respect of the interest on Non-Convertible Debentures was due on April 11, 2022," said FEL.
The debentures are secured and have a coupon rate of
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