Debt

Debt financing

Future Retail's lenders classify company as NPA

Economic Times  

Lenders to Future Retail have classified the account as a non-performing asset (NPA), but do not want to take any pre-emptive action, and have asked the company to submit a "viable" resolution plan. Last month, Future Retail Ltd (FRL) had missed the due date for payment of INR 3,494.56 crore to banks and lenders. The Kishore Biyani-led Future Group firm had said it could not sell assets due to its ongoing litigation with Amazon, which impacted its monetisation plans.