Future Consumer Faces NCLT Case Filed by State Bank of India
State Bank of India (SBI) has filed a case against Future Consumer Limited at the National Company Law Tribunal (NCLT) Mumbai. The NCLT bench noted missing information in SBI's petition, including the date of default and banker's evidence certificate. SBI has been given two weeks to amend the petition. No notice has been issued yet, and the case will be re-listed for a future date. Future Consumer Limited has disclosed this development to stock exchanges in compliance with SEBI regulations.
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Future Consumer Limited has disclosed to stock exchanges that State Bank of India (SBI) has filed a case against the company at the National Company Law Tribunal (NCLT) Mumbai. The development was communicated through a regulatory filing under Regulation 30 of SEBI Listing Regulations.
NCLT Proceedings Update
During the tribunal proceedings, counsel for SBI appeared when the matter was called out. The bench specifically asked SBI's counsel about the date of default in the case. However, this crucial information was not clearly mentioned in Form 1, and there was no banker's evidence certificate provided to support the petition.
| Case Details | Information |
|---|---|
| Tribunal | NCLT Mumbai |
| Petitioner | State Bank of India |
| Listed Date | Not specified |
| Re-listing Date | Not specified |
| Amendment Period | 2 weeks |
| Notice Status | Not issued |
Tribunal's Decision
Considering the incomplete documentation, the bench has allowed the creditor to amend the petition within two weeks from the hearing date. The matter has been re-listed for a future date, providing SBI an opportunity to rectify the deficiencies in their filing.
Importantly, no notice has been issued at this stage of the proceedings, indicating that the case is still in its preliminary phase. The company has indicated that it will make appropriate representations in the matter when required.
Regulatory Compliance
Future Consumer Limited has fulfilled its disclosure obligations by informing both BSE Limited and National Stock Exchange of India Limited about this development. The company's shares trade under scrip code 533400 on BSE and FCONSUMER on NSE. This disclosure ensures compliance with the provisions of Regulation 30 of SEBI Listing Regulations, which mandate timely disclosure of material events that could impact investor decisions.
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