- Title:
CLARIFICATION ON SOCIAL MEDIA NEWS - Time:
11:37:56 - Date:
6 Aug 2021 - Category:
Miscellaneous - ID:
8775H
AXIS/CO/CS/213/2021-22
August 6, 2021
Dear Sirs,
SUB: CLARIFICATION ON SOCIAL MEDIA NEWS RELATING TO AXIS BANK LED CONSORTIUM EXPOSURE TO FUTURE GROUP
We draw your attention to certain messages on social media wherein it is mentioned that an Axis Bank Limited led consortium has an exposure of Rs 16,000 cr to the Future group. In this context, the Bank has received queries seeking more information on its exposures to the Future group.
Accordingly, we clarify that Axis Bank's outstanding as on June 30, 2021 to Future group entities is as set out in the table below:
| Entities |
Outstanding Fund Based |
Outstanding Non Fund Based |
Total |
| Future Enterprises Limited |
151 |
13 |
164 |
| Future Retail Limited |
250 |
55 |
305 |
| Other Future group entities |
158 |
21 |
179 |
| All amounts in Rs Crore, rounded off to nearest Rs crore Other Future group entities comprises the aggregate of exposures to Future Lifestyle Fashions Ltd, Iskrupa Mall Management Company Pvt Ltd, Shree Balaji Ethnicity Retail Ltd, Nufuture Digital (India) Ltd, Rachika Trading Pvt Ltd, Galaxy Cloud Kitchens Limited, Galaxy Entertainment Corporation Ltd, and Indus Tree Producer Transform Private Limited. |
|||
You are requested to take note of above and arrange to bring the same to the notice of all concerned.
Thanking you,
Yours Sincerely,
For Axis Bank Limited
Girish V. Koliyote
Company Secretary
CLARIFICATION ON SOCIAL MEDIA NEWS 11:37:566 Aug 2021Miscellaneous8775H