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The resolution professional for Future Enterprises has invited expressions of interest (EoI) for sale of certain assets of the company such as its stakes in its insurance ventures and apparel manufacturing units.
There are two categories of assets under sale. Under category 1, the assets on the block are 0.51 per cent stake of Future Enterprises in Future Generali Indian Insurance Company, 25.18 per cent stake in Future Generali India Life Insurance Company, 49.81 per cent stake in Sprint Advisory Services and 49.82 per cent stake in Shendra Advisory Services.
Under category-2 assets, on offer are 39 per cent stake each of Future Enterprises in Apollo Design and Apparel Parks and Goldmohur Design and Apparel Parks.
The majority of the company’s fixed assets are located in Maharashtra and Karnataka. The apparel manufacturing units have a capacity of 70,000 trousers per month and 60,000 shirts per month.
EOI deadline
The deadline to receive EoIs is January 16 and the final list of prospective resolution applications will be issued on January 28. Resolution applicants will have to file their resolutions plans by February 27.
The company went into insolvency on February 27 this year, owing over ₹16,000 crore to its financial creditors.
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