SBI vs Future Consumer Limited: NCLT Hearing Adjourned with Direction for Company Submission
Future Consumer Limited provided an update on the ongoing matter before the National Company Law Tribunal (NCLT) concerning State Bank of India (SBI). The company addressed the proceedings regarding the case initiated by the bank.During the hearing, counsel for SBI presented documentation including sanction letters, a recall notice, and an NESL report which authenticated the debt owed to the bank. This was alongside a revival letter related to the claim.
Counsel representing Future Consumer Limited stated that the company has ongoing arbitration proceedings with a JV Partner and expressed hope for a favorable order in this matter. The defense team also noted that another issue pending before the Bench, relating to whether Future Consumer Limited qualifies as an NBFC given its investment size, needs resolution prior to proceeding fully on the current matter.
Following deliberation by all parties, the NCLT has kept the case on hold until June 8, 2026. The company has been directed to file its written Submission before the next hearing date. Future Consumer Limited confirmed it will provide further updates regarding the development of this legal matter.
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