Future Consumer Ltd, the FMCG company owned by debt-ridden Future Group, faces an insolvency plea filed before the National Company Law Tribunal (NCLT).
Resurgent India Special Situations Fund had moved the Mumbai bench of the NCLT, filing an application to initiate insolvency proceedings against Future Consumer, claiming defaults.
Confirming the development, Future Consumer in a regulatory filing earlier this week said: "The company would be making appropriate representation in the matter".
According to details available on the NCLT portal, the insolvency plea was filed on August 20, 2025, and is yet to be listed before any bench for hearing.
Resurgent India Special Situations Fund was launched by Resurgent India, a Sebi-registered Category I merchant banker and investment bank.
In the June quarter results, FCL had informed that it is facing a "significant liquidity crunch", which has impacted the company's operations.
Moreover, it had defaulted on payment of interest/repayment of principal amount on loans from banks, financial institutions, and unlisted debt securities.
As of June 2025, the total debt servicing obligations due, including interest, were Rs 558.73 crore.
It was part of the 19 group companies operating in retail, wholesale, logistics and warehousing segments, which were supposed to be transferred to Reliance Retail under a Rs 24,713 crore deal announced in August 2020.
Resurgent India Special Situations Fund had moved the Mumbai bench of the NCLT, filing an application to initiate insolvency proceedings against Future Consumer, claiming defaults.
Confirming the development, Future Consumer in a regulatory filing earlier this week said: "The company would be making appropriate representation in the matter".
According to details available on the NCLT portal, the insolvency plea was filed on August 20, 2025, and is yet to be listed before any bench for hearing.
Resurgent India Special Situations Fund was launched by Resurgent India, a Sebi-registered Category I merchant banker and investment bank.
In the June quarter results, FCL had informed that it is facing a "significant liquidity crunch", which has impacted the company's operations.
Moreover, it had defaulted on payment of interest/repayment of principal amount on loans from banks, financial institutions, and unlisted debt securities.
As of June 2025, the total debt servicing obligations due, including interest, were Rs 558.73 crore.
It was part of the 19 group companies operating in retail, wholesale, logistics and warehousing segments, which were supposed to be transferred to Reliance Retail under a Rs 24,713 crore deal announced in August 2020.
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