Future Consumer Limited has informed the Exchange about General Updates
Awaiting price reaction for this filing.
Future Consumer Limited has shared an update on the insolvency-related case filed against it by Resurgent India Special Situations Fund at the NCLT Mumbai. The hearing, originally scheduled for March 9, 2026, took place on March 17, 2026. The company's counsel argued that the first default occurred in May 2022, which is beyond the limitation period, and pointed to a waiver of past defaults. Resurgent's counsel countered that the latest acceleration notice dated April 24, 2024 should be treated as the date of default. The Tribunal raised a new concern based on FY24-25 financials: with plant, equipment and machinery worth over Rs. 300 crore and large investments in subsidiaries, the Tribunal questioned whether the company should have been registered as an NBFC with the RBI. The company has been directed to file an additional affidavit within 10 days, and the next hearing is scheduled for April 16, 2026.
Shareholders should note that the insolvency threat from Resurgent remains unresolved and may now be compounded by an NBFC classification question, both of which add to ongoing uncertainty around the company's future and stock price.