RBL Bank takes possession of assets of Future Consumer Ltd at Veerasandra Village, Bangalore

Future Consumer Limited has received an intimation letter dated 8th December, 2023 from RBL Bank Limited ("RBL Bank"), informing about taking symbolic possession of the assets being immovable property comprising of land and building situated at Veerasandra Village in the district of Bangalore admeasuring 44116 Sq.Fts. ("Secured Assets") on 6th December,2023 u/s 13(4) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 read with the Security Interest (Enforcement) Rules, 2002 framed thereunder, since the Company and Guarantor - Mr. Kishore Biyani have failed to repay the amount due to RBL Bank.

The aforesaid Secured Assets were mortgaged to RBL Bank by the subsidiary company viz. Appu Nutritions Private Limited for securing the borrowings availed by the Company.

Shares of Future Consumer Limited was last trading in BSE at Rs. 0.83 as compared to the previous close of Rs. 0.84. The total number of shares traded during the day was 2983295 in over 1033 trades.

The stock hit an intraday high of Rs. 0.84 and intraday low of 0.81. The net turnover during the day was Rs. 2472205.00.

Source : Equity Bulls

Keywords

FutureConsumer INE220J01025 RBLBank VeerasandraVillage Bangalore