Kishore Biyani-led Future Enterprises has pushed its board meeting to September 7. Earlier, the board was scheduled to meet on Friday for consideration and approval of audited financial results of the company for the fiscal ending March 2020.
The meeting has been deferred due to non-completion of audit process of financial results, the company said in a late evening announcement.
The company further said that trading window for dealing in the securities of the company, which was already closed w.e.f. April 1, 2020, will remain closed till 48 hours after the announcement of audited financial results.
Future Retail, one of the operating companies of Future Group, recently averted a default by making an interest payment of $14 million or about Rs 105 crore to its coupon holders for $500 million senior secured notes. The company was originally due to make the interest payment on its 5.60 percent 2025 dollar notes on July 22 which it missed.
Future Group had a consolidated debt of Rs 12,778 crore as of September 2019, as per the company’s public records. Its flagship company Future Retail had a gross debt of Rs 2,657 crore.
First Published: IST