Future Consumer Limited has disclosed complete defaults on its total financial indebtedness of ₹615.67 crore as on March 31, 2026, according to a regulatory filing made in compliance with SEBI circular requirements. The disclosure reveals that the company is facing comprehensive payment defaults across all major debt categories, highlighting significant financial distress.

Complete Default on Bank Facilities

The company reported total outstanding bank loans and revolving facilities of ₹325.26 crore, with the entire amount classified as defaulted. This represents a 100% default rate on all banking relationships, including both principal repayments and interest obligations as of March 31, 2026.

Unlisted Debt Securities Default Details

Future Consumer's unlisted debt securities portfolio, totaling ₹290.41 crore, is entirely in default. The primary creditor is Resurgent India Special Situations Trust, holding Non-Convertible Debentures (NCDs) with both principal and accrued interest components.

Debt Composition Breakdown

Extended Default Timeline

The company's disclosure reveals a prolonged default period spanning multiple payment cycles. The defaults to Resurgent India Special Situations Trust include missed payments from multiple due dates:

• 2022 Defaults: May 15, August 15, November 15
• 2023 Defaults: February 15, May 15, August 15, November 15
• 2024 Defaults: February 15, May 15, August 15, November 15
• 2025 Defaults: February 15

This timeline indicates systematic payment failures over nearly three years, demonstrating persistent liquidity challenges.

Management Response and Future Plans

Future Consumer Limited has acknowledged the financial situation and outlined preliminary recovery strategies. The company stated it is "planning/working for Asset Monetization and Debt Reduction over the period in this year." However, no specific timelines or detailed restructuring plans were provided in the current disclosure.

Regulatory Compliance

The disclosure was made in accordance with SEBI Circular No. SEBI/HO/CFD/CMD1/CIR/P/2019/140 dated November 21, 2019, which mandates listed companies to report defaults on loans from banks, financial institutions, and unlisted debt securities. The filing was signed by Chief Financial Officer Rajendra Bajaj and submitted to both BSE Limited and National Stock Exchange of India Limited on April 6, 2026.

Future Consumer Limited received a procedural reprieve in its ongoing National Company Law Tribunal (NCLT) case as State Bank of India (SBI) acknowledged errors in its claim computation and withdrew part of its petition. The development came during the latest hearing at NCLT Mumbai, where both parties appeared before the tribunal.

SBI Acknowledges Claim Computation Errors

During the proceedings, Future Consumer's counsel informed the bench that SBI had responded to objections regarding incorrect claim computation by withdrawing part of their claim. The bank also revised its interest component, necessitating amendments to their original Form-1 petition.

SBI's counsel submitted before the tribunal that there was an error in the computation of their claim and committed to rectifying it through proper legal procedures.

Tribunal Grants Time Extension

The Hon'ble Tribunal responded to the developments by granting specific timelines for both parties to complete necessary procedures. SBI received two weeks to file an amended Form-1 petition through an affidavit, while Future Consumer was granted one additional week thereafter to file its reply to the amended form.

Case Background and Next Steps

This update follows Future Consumer's earlier disclosure dated 16th February, 2026, regarding SBI's case filing at NCLT Mumbai. The matter has been adjourned to 23rd April, 2026, providing both parties time to complete the required procedural formalities.

Future Consumer has committed to continue providing updates on the matter in compliance with Regulation 30 of SEBI Listing Regulations. The company's Managing Director Samson Samuel signed the disclosure, maintaining transparency with stakeholders regarding the ongoing legal proceedings.

The procedural relief, while temporary, provides Future Consumer with additional time to prepare its defense against the revised claims that SBI will present in its amended petition.