Future Enterprises Ltd. News and Updates

Keep track of all breaking news on Future Enterprises Ltd. from all sources in a single place.

21 Aug 2024, 06:58PM

Central Bank of India top bidder for Future's stake in insurance ventures

Business Standard

Central Bank of India on Wednesday said it has emerged as the successful bidder for the stake acquisition of debt-ridden Future Enterprises Ltd (FEL) in life and general insurance venture. Central Bank of India has been declared as the successful bidder by the Committee of Creditors (CoC) for the sale of Category 1 assets of FEL in Future Generali India Life Insurance Company Limited and Future Generali India Insurance Company Limited, the state-owned bank said in a regulatory filing. The Letter of Intent dated August 20, 2024, is received by the bank in this regard, it added. Future Enterprises owns a 25 per cent stake in Future Generali India Insurance Company and a 33 per cent stake in Future Generali Life Insurance. On July 20, 2022, the Mumbai bench of the National Company Law Tribunal (NCLT) ordered initiating insolvency resolution proceedings against the debt-ridden FRL and dismissed objections raised by e-commerce major Amazon. The NCLT has passed the order after allowing

Future Enterprises Ltd. is trading above its 50 day SMA of 0.6

Future Enterprises Ltd.

27 Dec 2023

Future Enterprises' RP invites EoI for insurance ventures, apparel units

Business Line

The deadline to receive EoIs is January 16 and the final list of prospective resolution applications will be issued on January 28

Future Enterprises Ltd. is trading below its 30 day SMA of 0.6

Future Enterprises Ltd.

13 Nov 2023

Future Enterprises insolvency: Jindal (India) emerges as the sole bidder for Kishore Biyani's company, says report

Business Today

Kolkata-based Jindal's plan was the only one that was submitted to the creditors till last week, as per the report. November 10 was the last date to submit the resolution plans for Future Enterprises Limited.

Future Enterprises Ltd. is trading above its 50 day SMA of 0.6

BC Jindal Group Co's the sole bidder for Future Enterprises

Economic Times | 13 Nov 2023

Future Enterprises Ltd.

27 Oct 2023

Jindal (India) to compete with Reliance Retail for Future Enterprises acquisition, submits debt resolution plan: Report

Business Today

Mukesh Ambani-controlled Reliance Retail is already in the race to acquire the company. Earlier, Reliance Retail had sought time till October 30 to take a call on its bid for Future Enterprises.

Future Enterprises Ltd. is trading below its 30 day SMA of 0.6

Future Enterprises Ltd.

18 Sep 2023

Future Retail's creditors extend voting timeline on SpaceMantra's bid to Sept 30

Economic Times

The committee of creditors (CoC) for Future Retail (FRL) has extended the voting period once again as they are undecided on whether to approve a low offer from SpaceMantra or opt for liquidation. The creditors have until September 30 to make a decision. SpaceMantra is the only bidder to acquire FRL, offering a recovery of about 2.79% for creditors. Lenders are uncomfortable with the offer and have raised concerns about valuations and the inaccessible nature of many FRL stores.

Future Enterprises Ltd. is trading above its 50 day SMA of 0.6

Future Enterprises Ltd.

26 Jul 2023

Reliance Retail in final list of resolution applicants for Future Enterprises

Business Line

The last date for submitting resolution plans is August 24, extended from the earlier date of August 19

Future Enterprises Ltd. is trading below its 30 day SMA of 0.6

Future Enterprises Ltd.

12 Jul 2023

Jindal (India), Reliance Retailemerge as prospective resolution applicants for Future Enterprises

Business Line

The provisional list of PRAs was issued under the corporate insolvency resolution process

Future Enterprises Ltd. is trading above its 50 day SMA of 0.6

Reliance Retail among prospective buyers for Future Enterprises

Business Line | 12 Jul 2023 2 more

Future Enterprises Ltd.

05 Jul 2023

Most Future Enterprises lenders back Avil Menezes as resolution professional

Economic Times

The National Company Law Tribunal (NCLT) had appointed Jitender Kothari as the interim resolution professional (IRP) in February when FEL was admitted for corporate insolvency on a petition by Foresight Innovations, an operational creditor.

Future Enterprises Ltd. is trading above its 50 day SMA of 0.6

Future Enterprises Ltd.

25 Jun 2023

Future Enterprises CoC re-constituted, claims over Rs 12,265 cr admitted

Business Standard

Taking a step forward for debt resolution, the interim resolution professional of debt-ridden Future Enterprises Ltd (FEL) has reconstituted the Committee of Creditors and claims of more than Rs 12,265 crore have been admitted from both secured and unsecured financial creditors. The interim resolution professional (IRP) has received claims of Rs 7,014.83 crore from 22 secured financial creditors of FEL. A total of Rs 6,952.42 crore of claims have been admitted as of June 5, 2023. The IRP also received claims of Rs 8,880.50 crore from unsecured financial creditors, of Rs 5,313.27 crore of claims have been admitted. In the CoC, Centbank Financial Services Ltd has the highest voting percentage of 27.22 per cent. Union Bank of India and Axis Trustee Services have 10.97 per cent and 10.92 per cent voting percentages, respectively. Centbank Financial Services Ltd had claimed an amount of Rs 3,344.81 crore as due, which has been fully admitted. Axis Trustee Services has claimed Rs 1,341.

Future Enterprises Ltd. is trading above its 50 day SMA of 0.6

Future Enterprises Ltd.

11 Jun 2023

Future Enterprises invites expression of interest for assets across India

Business Standard

The last date of receipt of interest is set at June 25 and the provisional list will be out on July 5. The last date of submissions for objections of the provisional list is July 10

Future Enterprises Ltd. is trading above its 50 day SMA of 0.6

Future Enterprises' RP invites EoIs for resolution

Business Line | 11 Jun 2023

Is Future Enterprises Ltd. worth buying?

148 Votes:

Buy 81.08%

Sell 14.19%

Hold 4.73%

36.56% Fall from 52W High

Future Enterprises Ltd. News and Updates

Keep track of all breaking news on Future Enterprises Ltd. from all sources in a single place.