Debt

Debt financing

Future Enterprises defaults on loan repayment of Rs.2,912-Cr to lenders

Mint  

Mumbai-based publicly listed Future Enterprises has defaulted on repayment of loans to a consortium of banks and other lenders. The firm was required to pay INR 2,911.51 crore to a consortium of banks and lenders between 23rd March and 31st March. The company could not repay the amount under the review period of 30 days. The lending banks were Axis Bank, Bank of Baroda, Bank of India, Canara Bank, Bank of Maharashtra, Central Bank of India, Canbank Factors, CSB Bank, DBS Bank, Dhanlaxmi Bank, HDFC Bank, IDBI Bank, Indian Bank, Indian Overseas Bank, SBI Global Factors, State Bank of India, South Indian Bank, and Union Bank of India. The total financial indebtedness of Future Enterprises, including short and long-term debt, stood at INR 6778.29 crore as of April 22, 2022.