<p>Debt-ridden Future Enterprises Ltd (FEL) on Wednesday said it has defaulted on payment of interest of Rs 1.06 crore for its non-convertible debentures.</p>.<p>The due date for payment was May 17, 2022, FEL said in a regulatory filing.</p>.<p>"The Company is unable to service its obligations in respect of the interest on Non-Convertible Debentures...," it said.</p>.<p>The Kishore Biyani-led Future group firm has defaulted on several payments in last three months.</p>.<p>The latest default is on the interest of securities issued for a sum of Rs 23 crore.</p>.<p>FEL has defaulted on interest payment for the period between November 11, 2021 to May 16, 2022, it said.</p>.<p>The debentures are secured and have a coupon rate of 9.28 per cent per annum.</p>.<p>Last month, FEL had informed the exchanges about a default of Rs 2,835.65 crore towards its consortium of banks. Its due date was March 31, 2022.</p>.<p>FEL was part of the 19 group companies operating in retail, wholesale, logistics and warehousing segments, which were supposed to be transferred to Reliance Retail as part of a 24,713 crore deal announced in August 2020.</p>.<p>The deal was called off by the billionaire Mukesh Ambani-led Reliance Industries Ltd last month.</p>
<p>Debt-ridden Future Enterprises Ltd (FEL) on Wednesday said it has defaulted on payment of interest of Rs 1.06 crore for its non-convertible debentures.</p>.<p>The due date for payment was May 17, 2022, FEL said in a regulatory filing.</p>.<p>"The Company is unable to service its obligations in respect of the interest on Non-Convertible Debentures...," it said.</p>.<p>The Kishore Biyani-led Future group firm has defaulted on several payments in last three months.</p>.<p>The latest default is on the interest of securities issued for a sum of Rs 23 crore.</p>.<p>FEL has defaulted on interest payment for the period between November 11, 2021 to May 16, 2022, it said.</p>.<p>The debentures are secured and have a coupon rate of 9.28 per cent per annum.</p>.<p>Last month, FEL had informed the exchanges about a default of Rs 2,835.65 crore towards its consortium of banks. Its due date was March 31, 2022.</p>.<p>FEL was part of the 19 group companies operating in retail, wholesale, logistics and warehousing segments, which were supposed to be transferred to Reliance Retail as part of a 24,713 crore deal announced in August 2020.</p>.<p>The deal was called off by the billionaire Mukesh Ambani-led Reliance Industries Ltd last month.</p>