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CBI charges Future Retail promoters Kishore Biyani with Rs 904 crore SBI fraud
CBI charges Future Retail promoters Kishore Biyani with Rs 904 crore SBI fraud after searching Mumbai premises.
The Central Bureau of Investigation registered a case against Future Retail promoters Kishore Biyani and others for allegedly defrauding the State Bank of India of 904.32 crore rupees. On Friday, November 6, 2026, officers conducted searches at multiple premises in Mumbai and seized documents linked to the company's directors. The bank filed a complaint claiming that sanctioned loan funds were diverted to associate companies rather than used for their intended purposes.
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CBI charges Future Retail promoters Kishore Biyani with Rs 904 crore SBI fraud
The Central Bureau of Investigation (CBI) has turned the spotlight back on Future Retail Limited (FRL) promoters by charging them with a massive financial fraud against the State Bank of India. Kishore Biyani and other group leaders face allegations of defrauding the bank of Rs 904.32 crore, marking a dramatic legal escalation in the case. This development follows a period of high-stakes legal battles and has reignited scrutiny over the collapse of the retail group once hailed as a leader in India's consumption sector.
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