Future Enterprises defaults on Rs 1.07 crore interest payment for NCDs
The complete sum of securities issued was Rs 23 crore and Long term Enterprises has defaulted on this gross principal volume
New Delhi: Personal debt-ridden Foreseeable future Enterprises Ltd (FEL) on Thursday stated it has defaulted on payment of interest on non-convertible debentures of Rs 1.07 crore.
“The corporation is unable to support its obligations in regard of the desire on Non-Convertible Debentures that was owing on November 16, 2022,” it mentioned in a regulatory submitting.
The debentures have a coupon amount of 9.28 per cent and FEL has defaulted on curiosity payments for the period of time from May perhaps 17, 2022, to November 15, 2022.
The complete total of securities issued was Rs 23 crore and a default has occurred on this gross principal volume.
The personal debt-ridden Future Team has been struggling with 3 petitions submitted by its operational creditors in advance of the Countrywide Company Legislation
