Home / Companies / News / Future Enterprises risks turning NPA by next quarter, say banking experts

Future Enterprises risks turning NPA by next quarter, say banking experts

FEL, which defaulted on payments to lenders and debenture holders in the last week of March, has a 30 day-curation period

For the three months ended December 2020, all Future group companies reported a combined revenue of Rs 3,228 crore and a loss of Rs 1,450 crore

Premium

3 min read Last Updated : Mar 31 2022 | 6:01 AM IST

Following the footsteps of Future Retail, which turned non-performing asset (NPA), Future Enterprises (FEL) is likely to slip into the bad loan category in the first quarter of FY23 if the company is unable to clear dues using the sale of stake in a general insurance firm.

FEL, which defaulted on payments to lenders and debenture holders in the last week of March, has a 30 day-curation period.

The chances of any improvement in financial position to repay dues are very dim, bankers.

A senior public sector banker said it sold the stake in Future Generali India Insurance Company (Future Generali) and added

Topics : Future Enterprises Non-performing Asset Future Generali NCLT RBI

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in