Biyani’s flagship company Future Retail, which operates large-format hypermarkets, is undergoing insolvency proceedings since last July; it has failed to attract buyers, ET reported on March 1. The company has admitted claims of ₹19,185 crore from financial creditors.

NCLT allows insolvency plea against Future Enterprises

With the commencement of CIRP, the management of the company now vest with the resolution professional and the powers of the board of directors stand suspended, a filing said

Future Enterprises admitted for insolvency

Bench admits petition by Foresight Innovation, which puts the default anount at Rs 1.58 crore; Operational creditor Retail Detailz India’s petition claims default of Rs 4.02 crore

Future Enterprises admitted for insolvency, NCLT appoints interim RP

The NCLT appointed a resolution professional to manage the affairs of the company till it is sold to a successful bidder.

Future Enterprises Admitted To Insolvency

Jitender Kothari appointed resolution professional

NCLT orders commencement of insolvency proceedings against Future Enterprises

Future Enterprises defaults on ₹12.75 crore interest payment on NCDs

Debt-ridden Future Enterprises Ltd (FEL) has defaulted on the payment of interest of Rs 12.75 crore on two non-convertible debentures (NCDs).

Future Enterprises defaults on Rs 12.75-crore interest payment on NCDs

“The company is unable to service its obligations in respect of the interest on Non-Convertible Debentures was due on February 16, 2023,” it said.

Future Enterprises defaults on Rs 12.75 crore interest payment on NCDs

Debt-ridden Future Enterprises Ltd (FEL) on Thursday said it has defaulted on interest payment of Rs 86.18 lakh for its non-convertible debentures.

Future Enterprises defaults on Rs 86.18 lakh interest payment for NCDs

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FEL has defaulted on interest payments for the period from June 20, 2022, to December 18, 2022

Future Enterprises defaults on ₹6.07 crore interest payment for NCDs

Hasn't faired well - amongst the low performers

Performance

Seems to be overvalued vs the market average

Valuation

Lagging behind the market in financials growth

Growth

Average profitability - not good, not bad

Profitability

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

Future Enterprises Limited is engaged in the business of multi brand retail trading. It owns and operates stores like Big Bazaar, fbb, Food Bazaar, Foodhall, HomeTown and Ezone.