Future Lifestyle Fashions Limited Announces Defaults in Payment of Amount of Principal Due on Loans
million and the amount of the Deferred Interest on NCDs of INR 429.8 million. The Lenders had implemented One Time Restructuring (OTR) in the accounts of FLFL on 30th April 2021. Subsequently, in view of the non-repayment of principal amount due under the said OTR, the Accounts of the company were classified as Non-Performing Assets on May 31, 2022. The amount of default as on December 31, 2022 of INR 14,656.7 million comprised of the persisting default of INR 4,360.1 million of the Quarter ended on September 30, 2022.