Subscribe To Print Edition About The Tribune Code Of Ethics Download App Advertise with us Classifieds

FRL defaults on Rs5,322-cr debt repayment

PTI

Updated At : 02:29 PM Apr 02, 2022 IST

New Delhi, April 1

Future Retail Ltd (FRL) on Friday said it has missed the due date for repayment of Rs 5,322.32 crore to lenders on account of the ongoing litigations with e-commerce major Amazon and other related issues. Last year, FRL had entered into a one-time restructuring scheme for Covid-hit companies with a consortium of banks and was under obligation to raise Rs 3,900 crore before March 31, 2022 by way of equity contribution. —

The Tribune, now published from Chandigarh, started publication on February 2, 1881, in Lahore (now in Pakistan). It was started by Sardar Dyal Singh Majithia, a public-spirited philanthropist, and is run by a trust comprising five eminent persons as trustees.

The Tribune, the largest selling English daily in North India, publishes news and views without any bias or prejudice of any kind. Restraint and moderation, rather than agitational language and partisanship, are the hallmarks of the newspaper. It is an independent newspaper in the real sense of the term.

The Tribune has two sister publications, Punjabi Tribune (in Punjabi) and Dainik Tribune (in Hindi).

Remembering Sardar Dyal Singh Majithia

Designed and developed by :

FRL defaults on Rs5,322-cr debt repayment

PTI

Unlock Exclusive Insights with The Tribune Premium