Update on NCLT hearing - SBI Vs Future Consumer Limited
Awaiting price reaction for this filing.
Future Consumer Ltd provided an update on the insolvency case filed by State Bank of India (SBI) at NCLT Mumbai. During the hearing, SBI admitted there was an error in the computation of their claim and agreed to withdraw part of their claim and revise the interest component. The NCLT bench gave SBI two weeks to file an amended form-1 via affidavit, and one week thereafter for the company to file its reply. The matter has been adjourned to 23rd April 2026.
The insolvency petition has not been admitted yet; SBI's admission of a computation error and partial withdrawal of their claim is a mildly positive development for the company, but the matter remains pending and continues to pose an overhang on the stock.