Future Enterprises to raise Rs 3,000 crore from insurance biz sale; aims to pare debt, avoid insolvency - Economic Times

On March 31, FEL defaulted on repayment of Rs 2,911.51 crore of loans to the consortium of banks and lenders. Later it also missed a 30-day review period as per the scheme of One Time Restructuring (OTR) for COVID-hit companies with its consortium of banks.

Debt-ridden Future Group firm Future Enterprises Ltd expects to raise around Rs 3,000 crore from selling its stake in the insurance business to pare debt, which may save the company from facing the r… [+3408 chars]

full article...