CBI Registers FIR in Rs 904.32 Crore Bank Fraud Case Against Future Retail's Kishore Biyani:

The Central Bureau of Investigation (CBI) has registered a case against businessman Kishore Biyani, the founder and promoter of Future Retail Limited, in connection with an alleged Rs 904.32 crore bank fraud.

In relation to the same, the CBI officials had also conducted a search operation at several premises in Mumbai on Friday, and an FIR was registered on November 04, 2026. They interrogated the accused's young brother named Rakesh Biyani for offences of criminal conspiracy for cheating and also for offences under the Prevention of Corruption Act.

The CBI spokesperson in a statement told "the Central Bureau of Investigation (CBI) has registered a case on the complaint of the State Bank of India, Stressed Assets Management Branch - III, Mumbai against M/s Future Retail Ltd. (M/s. FRL) and its Promoters/Managing Directors/ Executive Directors/Guarantors namely, (i) Kishore Biyani (ii) Rakesh Biyani, unknown public servants and unknown others for offenses of criminal conspiracy for cheating and also the offenses under the Prevention of Corruption Act, resulting in alleged wrongful loss of Rs.904.32 Crores to the complainant Bank."

Further stated, "It is further alleged that the company diverted the funds by siphoning them off through associate companies/connected entities and caused loss to the bank," and "incriminating documents relevant to the investigation were recovered and seized during the searches."