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FCL, the FMCG arm of the debt-ridden Future Group, had defaulted on Rs 253.95 crore loans and revolving facilities like cash credit from banks and financial institutions as on September 30, a filing said on Thursday.
Future Consumer Ltd (FCL) has defaulted on the payment of Rs 369.59 crore towards principal and interest on loans from banks, financial institutions and unlisted debt securities in the September quarter. FCL, the FMCG arm of the debt-ridden Future Group, had defaulted on Rs 253.95 crore loans and
Landcraft Retail has secured the highly sought after commercial property in Mumbai, owned by Salman Khan, on lease, for the operations of their new Food Square store.
The HC had, while issuing notice to the government and various lenders including RBL Bank and Yes Bank, refused to stay the DRT order and posted the matter for hearing on October 18.
The founder of the Future Group, Kishore Biyani, has approached the Bombay High Court challenging the forensic audit process and report on the accounts of the Future Retail Ltd. (FRL) company.