Future Consumer Limited has informed the Exchange about Update on NCLT hearing SBI Vs Future Consumer Limited
Awaiting price reaction for this filing.
SBI has filed a case against Future Consumer at the NCLT Mumbai bench over a debt recovery matter. In the latest hearing, the company raised objections about errors in SBI's calculation of the claim amount. SBI accepted that there was an error in computation, withdrew part of its claim, and said it would revise its interest component and file an amended form. The NCLT has given SBI two weeks to submit the corrected form, after which the company gets one week to file its reply. The next hearing is scheduled for 23rd April 2026.
This is a positive development for shareholders as SBI's partial withdrawal of claim suggests the company's challenge to the debt quantum has merit. However, the insolvency case is still pending and continues to create uncertainty about the company's financial position and future.