Page 2 - Future Enterprises

Stocks to watch: TCS, Wipro, Future Ent, IDBI Bank, Adani Green, ONGC, NHPC

Stocks to watch today: Canara Bank plans to raise up to Rs 3,500 crore through tier II bonds; TCS clarified that it would pay 100 per cent of variable payout in the June quarter of FY23.

Debt-ridden Future Enterprises faces second plea to initiate insolvency

Debt-ridden Future Enterprises Ltd is now facing a second plea filed by an operational creditor of the company before National Company Law Tribunal to initiate insolvency proceedings. The latest petition is filed against Future Enterprises by Retail Detailz India, claiming default of Rs 4.02 crore before the Mumbai bench of the National Company Law Tribunal (NCLT). "The Company has received e-filing confirmation from NCLT with respect to the filing of an application by an Operational Creditor Retail Detailz India Private under section 9 of the IBC for an alleged default amount of Rs 4.02 crore," Future Enterprises said in a late evening filing on Tuesday. No further date has been allotted so far for hearing the said application, it added. Last week, another operational creditor, Foresight Innovations, had filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC) 2016, for an alleged default amount of Rs 1.58 crore before the Mumbai bench of NCLT. The next da

Stocks to watch: L&T, Adani Power, Ambuja Cements, LIC, Paytm, JSW Steel

Stocks to watch today: L&T commissioned a new green hydrogen plant at Hazira in Gujarat; Future Enterprises defaults on payments of interest of two non-convertible debentures (NCDs) of Rs 12.6 crore.

Future Enterprises defaults on Rs 12.68 crore interest payment for NCDs

Debt-ridden Future Enterprises Ltd (FEL) said it has defaulted on payments of interest of two non-convertible debentures totalling Rs 12.68 crore. The due date for payment was August 17, 2022, FEL said in a regulatory filing. "The company is unable to service its obligations in respect of the interest on Non-Convertible Debentures (NCDs) due on August 17, 2022," it said on Thursday. The debentures are secured with a coupon rate of 9.60 per cent per annum. The interest amount was payable for the period between February 16 and August 17, 2022, it said. The amount of securities issued was Rs 106 crore and Rs 159 crore, totalling Rs 265 crore. Earlier this week FEL informed exchanges that an operational creditor of the company has filed a plea before the National Company Law Tribunal to initiate insolvency proceedings against the firm. The Future group firm has missed the interest payment of several NCDs in the last three months. FEL was part of the 19 Future group companies operat

Future Ent to quantify receivables from FRL and submit claims before IRP

The National Company Law Tribunal on Wednesday ordered insolvency resolution proceedings against Future Retail

Sensex falls 111 pts, Nifty holds 15,750; RIL sinks 7%, MRPL 10%

Benchmark indices swung wildly in trade on Friday after the government's move to tax oil refiners' windfall gain amid soaring crude oil prices hurt index heavyweight Reliance Industries' stock

Future Enterprises defaults on Rs 6.15 cr interest payment for NCDs

The due date for payment was June 29, 2022, FEL said in a regulatory filing on Thursday

Stocks to watch: Adani Enterprises, Dish TV, Infosys, Hindustan Copper

Stocks to watch today: Adani Enterprises subsidiary raised over Rs 6,000 crore to set up greenfield copper refinery; State-run IOB will boost advances across retail, corporate and MSME loans this year

Future Enterprises defaults on Rs 4.10 crore interest payment for NCDs

Earlier this week, FEL defaulted twice on interest payments of Rs 85.71 lakh and Rs 6.07 crore for its non-convertible debentures.

Future Enterprises defaults on Rs 1.41 cr interest payment for NCDs

The latest default is on the interest of securities issued for a sum of Rs 29 crore

Future Enterprises to raise Rs 3,000 cr via insurance biz sale to pare debt

Earlier on Thursday, Future Enterprises Ltd completed the sale of its 25 per cent equity in Future Generali India Insurance Company Ltd (FGIICL) to joint venture partner Generali for Rs 1,266.07 crore

Future Enterprises sells 25% stake in joint venture insurance firm

Future Enterprises has defaulted on repayment of Rs 2,911.51 crore of loans to lenders

Future Enterprises defaults on Rs 2,911.51 cr loan repayments

Future Enterprise Ltd (FEL) has defaulted on repayment of Rs 2,911.51 crore of loans to its lenders, missing 30 days of review period. The company was required to pay an aggregate amount of Rs 2,911.51 crore between March 23 and March 31, 2022, to various consortium banks and lenders, a regulatory filing said. The Kishore Biyani-led Future group had a review period of 30 days as per the scheme of One Time Restructuring (OTR) for COVID-hit companies with its consortium of banks. "The Company was unable to discharge the above Obligations to Banks / Lenders under the review period of 30 days, as the Company was not able to complete the monetisation of the specified investments as contemplated in OTR Plan (as defined the said Agreement), on Due Dates," said a regulatory filing from FEL. The filing showed that it defaulted on payments on March 31. FEL's total financial Indebtedness of the listed entity including short-term and long-term debt is Rs 6,778.29 crore, the filing added. Ear

Future Enterprises defaults on Rs 29.33 cr interest payment for NCDs

Debt-ridden Future Enterprises Ltd (FEL) on Tuesday said it has defaulted on payment of Rs 29.33 crore as interest on non-convertible debentures (NCDs). The due date for payment was April 18, 2022, it said in a regulatory filing. This is the third default by the Kishore Biyani-led Future group firm this month. On April 12, FEL had informed the exchanges about default on payment of Rs 9.10 crore interest on NCDs and Rs 1.22 crore on April 15. The latest default is on the interest of securities issued for a sum of Rs 300 crore. FEL has defaulted on interest for the period between April 17, 2021 to April 17, 2022, it said. The debentures are secured and have a coupon rate of 9.75 per cent per annum. Earlier this month, FEL had announced a default of Rs 2,835.65 crore towards its consortium of banks. The due date was March 31, 2022. FEL has defaulted on several payments in the last two months. In March, it had defaulted twice -- for Rs 19.16 crore and Rs 93.99 crore owed to banks.

Future Enterprises defaults on Rs 1.22 cr interest payment for NCDs

The latest default is on the interest of securities issued for a sum of Rs 25 crore.

Top headlines: Telcos slam Trai, Rs 1,900 cr deficit may hit infra projects

Business Standard brings you top headlines on Wednesday

Future Enterprises defaults on Rs 9.10 cr interest payment for NCDs

FEL has defaulted interest for the period between October 11, 2021, to April 10, 2022, a regulatory filing from the Future group firm said

Two independent directors of debt-ridden Future Enterprises resign

All 19 companies would be consolidated into one entity -- FEL -- and then transferred to RRVL

Top Headlines: Tax collections at Rs 13 trn; PSBs stare at Rs 13k crore-hit

In FY22, direct tax collections broke all records, touching Rs 13,81 trillion. Future Retail and Future Enterprises defaulted on loan repayments worth Rs 8,157.97 crore. More in our top headlines:

Future Enterprises defaults on Rs 2,835-crore loan repayment

Debt-ridden Future Enterprises Ltd (FEL) on Friday said it has defaulted on payment of Rs 2,835.65 crore to various banks and lenders.