Who is Kishore Biyani? CBI books Future Retail founder, brother in ₹904-crore SBI loan fraud case
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The CBI has booked Future Retail founder Kishore Biyani and his brother Rakesh in an alleged ₹904.32-crore bank fraud case following an SBI complaint. The agency searched premises linked to Biyani in Mumbai, alleging loan fund diversion through associate companies.
The Central Bureau of Investigation (CBI) has registered a case against Future Retail Ltd and its promoters, Kishore Biyani and his brother Rakesh Biyani, over an alleged bank fraud of ₹904.32 crore involving the State Bank of India (SBI), PTI reported.
The agency conducted searches at multiple premises linked to Kishore Biyani in Mumbai on Friday, November 6, and seized documents relevant to the investigation, officials said, as per PTI.
According to the CBI, the FIR was registered on November 4 following a complaint by SBI's Stressed Assets Management Branch-III in Mumbai.