Future Consumer Limited (FCL), a key player in India's consumer goods sector, continues to navigate legal proceedings at the National Company Law Tribunal (NCLT) in Mumbai. The company has provided an important correction regarding the ongoing case filed by Resurgent India Special Situations Fund, clarifying a date error in its previous disclosure.

Date Correction and Latest Update

In a follow-up disclosure dated December 10, 2025, Future Consumer Limited issued a correction to its earlier communication regarding the NCLT proceedings. The company clarified that the next hearing date was mistakenly reported in the previous disclosure.

The correction was necessary to ensure accurate information is available to all stakeholders and regulatory authorities regarding the timeline of the legal proceedings.

Case Background and Timeline

The legal proceedings have followed a structured timeline with multiple hearings and submissions:

During the December 10, 2025 hearing, counsel Mr. Shyam Kapadia represented Future Consumer Limited and successfully submitted Additional Affidavit and Written Submissions, which were taken on record by the Tribunal.

Current Proceedings Status

The case involves Resurgent India Special Situations Fund as the Financial Creditor and Future Consumer Limited as the Corporate Debtor. Despite document submissions during the December 10 hearing, arguments could not be taken up due to the Tribunal's scheduling constraints, leading to the adjournment to January 16, 2026.

Regulatory Compliance

In adherence to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Future Consumer Limited has maintained transparency by promptly correcting the disclosure error and informing BSE Limited and the National Stock Exchange of India Limited. Managing Director Samson Samuel continues to oversee the regulatory filings and stakeholder communications.

The January 16, 2026 hearing is expected to be significant as the Tribunal will consider the submitted documents and hear arguments from both parties in this ongoing corporate legal matter.

Future Consumer Limited (FCL), a key player in India's consumer goods sector, has reported significant financial distress in its latest quarterly results. The company's financial health has deteriorated, raising concerns about its ability to continue as a going concern.

Financial Snapshot

FCL's financial position paints a grim picture:

Debt Restructuring and Legal Proceedings

The company is grappling with several financial and legal challenges:

1. Loan Defaults: FCL has defaulted on loan payments to banks and financial institutions, resulting in loans being classified as non-performing assets.

2. Debt Assignment: RBL Bank Limited has assigned FCL's financial debt to Prudent ARC Limited under the SARFAESI Act, indicating a potential restructuring of the company's debt obligations.

3. Debenture Transfer: The company received communication regarding the transfer of 2,000 debentures from British International Investment Plc to Resurgent India Special Situations Trust.

4. Legal Action: Resurgent India Special Situations Fund has filed a case against FCL at the National Company Law Tribunal.

Auditors' Concerns

The auditors have expressed material uncertainty about FCL's ability to continue as a going concern, citing:

• Ongoing liquidity issues
• Inability to conclude re-negotiations
• Challenges in obtaining replacement financing

Recent Corporate Actions

Despite the financial turmoil, FCL's Board of Directors has approved some strategic moves:

1. Conversion of Outstanding Dues: The company plans to convert outstanding dues into convertible securities to be issued by its subsidiary companies:

   • The Nilgiri Dairy Farm Private Limited (NDFPL): Up to ₹22.50 Crore
   • Aadhaar Retailing Limited (ARL): Up to ₹7.50 Crore

2. Subsidiary Performance:

   NDFPL (Figures in ₹ Lakhs):

   Metric	FY 2024-25	FY 2023-24	FY 2022-23
   Turnover	3,916.71	4,111.81	3,965.73
   Net Worth	-8,552.51	-	-

   ARL (Figures in ₹ Lakhs):

   Metric	FY 2024-25	FY 2023-24	FY 2022-23
   Turnover	37,748.20	31,108.47	28,574.91
   Net Worth	-10,643.05	-	-

These corporate actions aim to alleviate the interest burden on the subsidiaries, which are currently unable to meet their interest obligations.

The company's financial distress and ongoing restructuring efforts highlight the challenges faced by FCL in the current economic environment. Stakeholders will be closely watching the outcome of the legal proceedings and the effectiveness of the debt restructuring measures in the coming months.