Future Consumer Limited receives physical possession notice from RBL Bank

Future Consumer Limited has received an intimation letter dated 23rd January,2024 from RBL Bank Limited ("RBL Bank"), informing about taking physical 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 which was mortgaged to RBL Bank by the subsidiary company viz. Appu Nutritions Private Limited ("Secured Assets") on 23rd January,2024 pursuant to order dated 28th December,2023 passed by Hon'ble Chief Judicial Magistrate, Bengaluru Rural District in Crl. Mis No 1789/2023 and in exercise of powers granted 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 in view of the Company and Guarantor having failed to repay the amount due to RBL Bank.

Shares of Future Consumer Limited was last trading in BSE at Rs. 1.01 as compared to the previous close of Rs. 0.97. The total number of shares traded during the day was 2213741 in over 763 trades.

The stock hit an intraday high of Rs. 1.01 and intraday low of 1.01. The net turnover during the day was Rs. 2235878.00.

Source : Equity Bulls

Keywords

FutureConsumer INE220J01025 RBLBank PhysicalPossession Assets