Intimation of 61st Annual General Meeting to be held on May 29, 2026 alongwith the Notice to Shareholders and Annual Report for FY 2021-22
Awaiting price reaction for this filing.
Futura Polyesters Limited has convened its 61st AGM on May 29, 2026 to adopt FY 2021-22 financial statements. The company has been non-operational since December 2012 and went through liquidation proceedings with Official Liquidator taking control from October 2020. For FY 2021-22, revenue from discontinued operations was only Rs. 7.58 lakh (down from Rs. 1,547 lakh in FY 2020-21), with a net loss of Rs. 560.90 lakh. The company completed a One Time Settlement (OTS) of Rs. 243.45 crore with lenders in March 2025, with full payment made on June 23, 2025. No Dues Certificates have been obtained from all consortium lenders (Bank of India, Phoenix ARC, Reliance ARC, Union Bank, IDBI, Canara Bank, Axis Bank, and SBI). Banking facilities were regularized on February 18, 2026. The company is disposing of its freehold land in Chennai (211.14 acres total, 170.18 acres disposed, balance 40.96 acres remaining). No dividend has been recommended.
The company has cleared all secured debt through OTS and regularized banking, but remains non-operational with suspended trading since March 2013. Revival depends on land sale proceeds and compliance regularization. Shareholders face continued trading suspension until BSE listing fees and compliance are restored.