Kishore Biyani, Future Retail and the ₹904-crore bank fraud case: What led to the Group’s collapse?

Kishore Biyani, Future Retail and the ₹904-crore bank fraud case: What led to the Group’s collapse?

Kishore Biyani’s Future Group witnessed meteoric rise before mounting financial troubles pushed it into insolvency

# CBI registers alleged ₹904-crore bank fraud case involving Future Retail The CBI has registered an alleged ₹904.32-crore bank fraud case involving Future Retail and promoters Kishore Biyani and Rakesh Biyani. The case follows an SBI complaint alleging misuse of credit facilities and diversion of funds to related companies. The FIR was registered on November 4, 2026. Investigators searched premises linked to the promoters in Mumbai and reportedly seized documents. SBI's complaint refers to a forensic audit examining transactions from April 2017 to April 2022, which flagged alleged accounting discrepancies and layered transfers. Future Retail was once a major retailer before financial distress led to insolvency. The allegations remain under investigation. **Source:** NDTV; The Hindu **Original report:** https://www.thehindu.com/business/Industry/kishore-biyani-future-retail-cbi-defrauding-charges-reliance-amazon-deal/article71677462.ece **Published:** 8 November 2026