6.4 crore due to future customer default due to unlisted loan securities

Future Consumer, a part of Crisis Future Group, said on Monday that it had defaulted on principal and interest payments of Rs 6.4 crore in arrears of unlisted debt securities.

Types of instruments included secured, redeemable and non-convertible debentures and May 15 was the default date, the company said in a regulatory update.

The total amount issued by the company through debt securities was `200 crore, with arrears of Rs 158.9 crore as on April 30.

It added that as on March 31, 2022, the total financial debt of the company, including short-term and long-term, was Rs 537.07 crore.

Earlier on May 14, another group company Future Enterprise (FEL) said it had failed to pay interest of Rs 8.94 lakh on non-convertible debentures (NCDs).

The Company was unable to meet its obligations on principal and interest in the NCD on May 13, 2022.

The principal amount was Rs 2 crore for the payment of interest for 178 days between November 16, 2021 and May 12, 2022, it said in a regulatory update.

Earlier on May 10, FEL had said that it had failed to pay interest of Rs 2.28 crore due on NCDs.

Interest was paid for a total principal amount of Rs 50 crore.

Earlier in March, FEL had defaulted on interest payments of Rs 9.91 crore and earlier in April it had defaulted on interest payments of Rs 15.95 crore at NCD.

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