News

Future Consumer's NCLT Case Adjourned to December 10

Future Consumer Limited informed stock exchanges that its insolvency case filed by Resurgent India Special Situations Fund at NCLT Mumbai was scheduled for November 12, 2025, but could not be heard as per the arguing counsel's request. The case C.P.(IB)/914(MB)2025 has been adjourned to December 10, 2025 for further consideration. This follows the company's earlier disclosure dated October 29, 2025 regarding the case filed against it.

Future Consumer Limited's Independent Director and Chairman Resigns Due to Extraordinary Circumstances

Birendra Kumar Agrawal resigned from his position as Independent Director of Future Consumer Limited effective November 11, 2025. His resignation was attributed to extraordinary circumstances, with no other material reasons cited. As a result of his departure, Agrawal also ceased to serve as Chairman of the Company and Chairman of the Audit Committee, as well as his membership roles in the Nomination and Remuneration/Compensation Committee and Stakeholders Relationship and Share Transfer Committee. The company has notified stock exchanges BSE and NSE of this board change.

Future Consumer Limited Reports Quarterly Results Amid Financial Distress and Legal Proceedings

Future Consumer Limited announced its unaudited financial results for the quarter ended September 30, 2025. The company faces significant financial challenges including a net capital deficiency of Rs. 28,912.18 lakhs and outstanding borrowings of Rs. 57,234.01 lakhs. The company has defaulted on loan payments to banks and financial institutions, resulting in loans being classified as non-performing assets. RBL Bank Limited has assigned the company's financial debt to Prudent ARC Limited under the SARFAESI Act. The company received communication from Resurgent India Special Situations Trust regarding transfer of 2,000 debentures from British International Investment Plc. A case has been filed against the company by Resurgent India Special Situations Fund at the National Company Law Tribunal, with the next hearing scheduled for November 12, 2025. The auditors have expressed material uncertainty about the company's ability to continue as a going concern due to liquidity issues and inability to conclude re-negotiations or obtain replacement financing.

Future Consumer Limited Converts Outstanding Dues into Convertible Securities for Two Subsidiaries

Future Consumer Limited's Board approved the conversion of outstanding dues into optionally convertible debentures for two wholly-owned subsidiaries. The company will subscribe to debentures worth up to Rs. 22.50 crore from The Nilgiri Dairy Farm Private Limited (NDFPL) and up to Rs. 7.50 crore from Aadhaar Retailing Limited (ARL). NDFPL operates in dairy products, bakery products, and FMCG distribution under the Nilgiris 1905 brand, while ARL focuses on FMCG distribution through wholesale and franchise models. Both subsidiaries show negative net worth as of March 31, 2025, with NDFPL at Rs. -85.53 crore and ARL at Rs. -106.43 crore. The transaction aims to avoid interest burden that the subsidiaries are unable to pay. The conversion is expected to be completed by March 31, 2026, subject to necessary approvals and consents.

Future Consumer Limited Receives Interim Order from NCLT Mumbai in Case Filed by Resurgent India Special Situations Fund

Future Consumer Limited received an Interim Order from the National Company Law Tribunal, Mumbai Bench regarding case C.P. (IB)/914(MB)2025 filed by Resurgent India Special Situations Fund. The order directs the company to file a reply within seven days of receiving notice from the applicant, after which the applicant can file a rejoinder within seven days. The matter has been relisted for October 8, 2025. This follows the company's earlier disclosures dated August 25, 2025 and August 28, 2025 about the case filed against it at NCLT Mumbai.