Future Enterprises Limited has formally notified stock exchanges regarding the scheduling of its forty-first Committee of Creditors (CoC) meeting, demonstrating the ongoing nature of the company's insolvency resolution process. The formal intimation was issued on April 10, 2026, to both BSE Limited and the National Stock Exchange of India Limited.

Meeting Details and Regulatory Compliance

The company has scheduled its forty-first CoC meeting in accordance with regulatory requirements under SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015. The meeting specifics are outlined below:

Resolution Professional and Authorization

The insolvency proceedings continue under the supervision of CA Avil Menezes, who serves as the Resolution Professional for Future Enterprises Limited. His professional credentials and authorization details are as follows:

Stock Exchange Communication

The intimation was formally communicated to both major Indian stock exchanges where the company's securities are listed. The communication included proper identification codes for tracking purposes:

The notification fulfills the company's obligation under sub-clause 16(g) of Clause A of Part A of Schedule III of the SEBI LODR regulations, ensuring transparency in the insolvency resolution process for all stakeholders including creditors, investors, and regulatory authorities. The formal documentation includes the Resolution Professional's signature and professional stamp, validating the authenticity of the communication.

Future Enterprises Limited (FEL), currently undergoing Corporate Insolvency Resolution Process (CIRP), has announced a significant development for its debenture holders. The company has set August 1, 2025, as the record date for an interim distribution of ₹508.00 crore, generated from asset sales under the supervision of Resolution Professional Avil Menezes.

Key Details of the Interim Distribution

• Record Date: August 1, 2025 (Friday)
• Distribution Amount: ₹508.00 crore
• Source of Funds: Proceeds from the sale of certain FEL assets
• Approval: National Company Law Tribunal (NCLT) on May 2, 2025

Debentures Covered in the Distribution

The interim distribution covers Non-Convertible Debentures (NCDs) across four series:

Axis Trustee Services Limited (ATSL) serves as the debenture trustee for these NCDs.

CIRP Background and Distribution Process

Future Enterprises Limited has been under CIRP since February 27, 2023, following an order by the NCLT Mumbai Bench III. The Resolution Professional initiated the asset sale process under Regulation 29 of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016.

The Committee of Creditors (CoC) approved both the sale and the interim distribution of the proceeds. Subsequently, the RP filed an Interlocutory Application (I.A. 5888 of 2024) with the NCLT, seeking directions for the interim distribution.

NCLT Order and Distribution Conditions

The NCLT's order on May 2, 2025, allowed the interim distribution subject to the following conditions:

1. The distribution is subject to mandatory priority payments as per Section 53 of the Insolvency and Bankruptcy Code.
2. It is considered interim in nature and subject to final entitlement of creditors under either Section 30 (in case of a resolution plan) or Section 53 (in case of liquidation).
3. Any excess distribution, if made, shall be reversed accordingly.

Implications for Debenture Holders

This interim distribution represents a significant development for FEL's debenture holders, who may receive partial recovery of their investments. However, it's important to note that the distribution is subject to the conditions set by the NCLT and the final resolution of the CIRP process.

The company has made this announcement in compliance with Regulation 60 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Debenture holders are advised to take note of the record date and await further communications regarding the distribution process.