Debt-ridden Future Enterprises Ltd (FEL) on Tuesday said it has defaulted on payment of Rs 29.33 crore as interest on non-convertible debentures (NCDs). The due date for payment was April 18, 2022, it said in a regulatory filing. This is the third default by the Kishore Biyani-led Future group firm this month. On April 12, FEL had informed the exchanges about default on payment of Rs 9.10 crore interest on NCDs and Rs 1.22 crore on April 15. The latest default is on the interest of securities issued for a sum of Rs 300 crore. FEL has defaulted on interest for the period between April 17, 2021 to April 17, 2022, it said. The debentures are secured and have a coupon rate of 9.75 per cent per a
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