Future Consumer Limited has announced that the National Company Law Tribunal (NCLT) hearing in the case filed by State Bank of India (SBI) against the company has been adjourned to June 4, 2026. The disclosure was made to both BSE Limited and National Stock Exchange of India Limited in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Case Proceedings Update

During the hearing, counsel for Future Consumer Limited submitted that the financial creditor had breached the timeline for amending Form-1 and had only recently served the amended document. Consequently, the company requested additional time to file its reply to the amended form. The counsel for the financial creditor explained that the delay was caused by the unavailability of bank officials due to year-end closing and audit procedures.

The Hon'ble Tribunal, after hearing both parties, granted the company one week to file its reply to the amended Form-1. The matter has been adjourned accordingly, with the next hearing scheduled for June 4, 2026.

Background and Compliance

This development follows the company's earlier disclosure dated March 24, 2026, which informed the exchanges about the filing of the case at NCLT (Mumbai) by State Bank of India. Future Consumer Limited has committed to providing further updates on the matter as required under SEBI Listing Regulations.

The communication was signed by Samson Charuvil Samuel, Managing Director of Future Consumer Limited, on April 23, 2026. The company maintains its corporate office at Sobo Brand Factory, Near Haji Ali, Tardeo, Mumbai, with its registered office at Knowledge House, Jogeshwari (East), Mumbai.

Key Details

Future Consumer Limited has provided an updated disclosure regarding the National Company Law Tribunal (NCLT) hearing in the case filed by Resurgent India Special Situations Fund. The latest hearing took place on April 17, 2026, marking a significant procedural development in the ongoing legal proceedings.

Latest Hearing Developments

During the April 17, 2026 hearing, the company's counsel attempted to resume arguments regarding the limitation defense strategy. However, the tribunal declined to hear oral arguments and instead directed both parties to submit their pleadings in written format. This procedural shift indicates the tribunal's preference for comprehensive written submissions over continued oral presentations.

Tribunal Directions and Timeline

The tribunal has established a structured timeline for written submissions. Future Consumer Limited must file its written submissions within 10 days of the April 17, 2026 hearing. Subsequently, Resurgent India Special Situations Fund, as the financial creditor, has been granted one week to respond to the company's submissions.

Background Context

This latest development continues the legal proceedings that began with the company's earlier disclosures. The case involves Future Consumer Limited's defense based on limitation periods, with the company previously arguing that the first default occurred in May 2022, which falls beyond the statutory limitation period.

The company has maintained its position that proceedings should be dismissed on limitation grounds, citing relevant Supreme Court precedents including the Pathapati Subba Reddy case judgment.

Regulatory Compliance

Future Consumer Limited has committed to providing regular updates on the proceedings as they develop, ensuring compliance with SEBI Listing Regulations under Regulation 30. The company's disclosure was signed by Managing Director Samson Samuel and filed with both BSE Limited and National Stock Exchange of India Limited on April 17, 2026.