Future Consumer Limited has disclosed significant financial defaults totaling ₹596.58 crores as of December 31, 2025, in compliance with SEBI circular requirements. This disclosure comes alongside recent board restructuring following the resignation of Independent Director Birendra Kumar Agrawal.

Major Financial Defaults Disclosed

In a regulatory filing dated January 6, 2026, Future Consumer Limited revealed comprehensive details of its payment defaults across various financial instruments. The company's Chief Financial Officer Rajendra Bajaj submitted the disclosure under SEBI Circular No. SEBI/HO/CFD/CMD1/CIR/P/2019/140.

The defaults encompass both principal repayments and interest obligations, with 100% of outstanding amounts currently in default status.

Unlisted Debt Securities Details

The unlisted debt securities default primarily involves Resurgent India Special Situations Trust, with multiple payment dates missed since May 2022. The breakdown includes:

Missed payment dates span from May 15, 2022, through February 15, 2025, indicating prolonged financial distress.

Board Restructuring Context

The financial defaults disclosure follows significant board changes announced earlier. Birendra Kumar Agrawal resigned from his position as Independent Director effective November 11, 2025, citing "extraordinary circumstances." His departure resulted in vacancies across multiple key positions:

• Chairman of the Company
• Chairman and Member of the Audit Committee
• Member of the Nomination and Remuneration Committee
• Member of the Stakeholders' Relationship Committee

Financial Performance Overview

The company's challenging financial position is further highlighted by recent performance metrics and strategic decisions:

The negative networth of ₹85.53 crores underscores the company's financial difficulties, while debt conversion measures for subsidiaries aim to reduce interest burden.

Recovery Plans

Despite the challenging situation, Future Consumer Limited has indicated strategic initiatives for financial recovery. The company stated it is "planning/working for Asset Monetization and Debt Reduction over the period in this year," suggesting active efforts to address the current financial crisis.

Stakeholders will be closely monitoring the company's progress on asset monetization plans and the appointment of new board members to fill critical governance positions.

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.