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Future Group arm defaults on debt repayment of Rs 22 cr due September 5

In a regulatory filing, the company said it has been unable to service its obligations towards payment of principal redemption and interest due on September 5, 2020

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The redeemable non-convertible debentures with 36 months tenure are to be redeemed in three instalments of 30:30:40 at the end of 18th, 24th and 36th month from the date of allotment, the company said.

Press Trust of India New Delhi

2 min read Last Updated : Sep 07 2020 | 11:41 PM IST

Future Group firm Future Consumer Ltd (FCL) on Monday said it has defaulted on payment of principal redemption and interest on non-convertible debentures.

The current default amount includes principal of Rs 20 crore and interest of Rs 2.03 crore, payable annually, it said.

In a regulatory filing, the company said it has been unable to service its obligations towards payment of principal redemption and interest due on September 5, 2020.

"The company has approached the debenture trustees seeking deferment of the said obligations such that 50 per cent of the amount due shall be paid on or before September 30,

Topics : Future Consumer Future Group loan default NCDs

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