SBI Files Insolvency Case Against Future Consumer At NCLT

Future Consumer Ltd, part of the debt-laden Future Group, faces fresh legal proceedings as SBI has approached the NCLT Mumbai to initiate insolvency resolution. The case highlights the continuing financial challenges of the group, which has been under pressure due to mounting debt and stalled restructuring efforts. SBI’s petition seeks to recover dues and ensure creditor protection under the Insolvency and Bankruptcy Code (IBC).  

Key highlights from the announcement include  

• SBI has filed a case against Future Consumer Ltd at NCLT Mumbai.  
• The petition is aimed at initiating insolvency resolution under the IBC framework.  
• Future Consumer, part of the Future Group, has been struggling with debt and liquidity issues.  
• The case underscores rising creditor action against Future Group companies.  
• Industry experts note that insolvency proceedings could impact suppliers, investors, and employees linked to the company.  
• The development adds to the broader challenges faced by the Future Group amid stalled restructuring and legal disputes.  

This case marks another chapter in the financial troubles of the Future Group, with creditor action intensifying. The outcome of the NCLT proceedings will be closely watched, as it could set the course for Future Consumer’s debt resolution and future viability.  

Sources: Reuters, Economic Times, Business Standard