> ## Content Index > Fetch the complete content index at: https://newsanek.com/llms.txt > Use this file to discover other available public pages before exploring further. # CBI books Future Retail, Kishore Biyani in alleged Rs 904 crore bank fraud - URL: https://newsanek.com/cbi-future-retail-kishore-biyani-bank-fraud/ - Published: 2026-11-07T03:32:39.000Z - Updated: 2026-11-07T04:36:44.000Z - Description: The probe alleges the company moved loan funds through linked firms. Searches in Mumbai led to seized documents, and the investigation is still going on. - Author: Kumar Ujjwal - Tags: Business, #sub-business-stories, #sub-money-finance, #trending, #trending-in, #running The Central Bureau of Investigation (CBI) has registered a case against Future Retail Ltd and its promoter, Kishore Biyani. The case concerns an alleged bank fraud worth Rs 904.32 crore. Key numbers in the CBI case **Rs 904.32 crore**Alleged bank fraud amount **nine**Banks in the credit group **November 4**FIR registration date Graphic: News Anek, from the facts in this report The CBI has also named Kishore Biyani's brother, Rakesh Biyani, in the case. The agency said the first information report was registered on November 4. Searches were held at premises linked to Biyani in Mumbai on Friday. The New Indian Express and Rediff both reported this, citing officials and a CBI statement. Tradersunion put the amount at about 9.04 billion rupees, roughly 96 million dollars. ### Key points - The CBI has registered a case against Future Retail Ltd and Kishore Biyani. - Rakesh Biyani is also named in the case. - The alleged fraud is Rs 904.32 crore. The complaint came from State Bank of India. - The CBI says incriminating documents were seized during searches in Mumbai. ## So what is the alleged fraud about? The complaint was filed by State Bank of India. Its Stressed Assets Management Branch III in Mumbai made the complaint. The CBI alleges that the accused entered into a criminal conspiracy. The aim was to get credit facilities from SBI and from a group of nine banks. The agency also alleges that the company did not use the funds for the purposes they were sanctioned for. It says the money was diverted through associate companies and connected entities. Future Retail ran hypermarkets and supermarkets, including Big Bazaar, Fashion@Big Bazaar and Foodhall. ## What is the company's situation now? Tradersunion reported that Future Retail is already in insolvency proceedings. A Mumbai bench of the National Company Law Tribunal ordered its liquidation in 2024. Tradersunion said the new probe could make it harder to assess liabilities and recover funds linked to the company. ## What happens next in the probe? The CBI says the investigation is continuing. It wants to find the full scope of the alleged conspiracy. The agency also wants to identify the roles of everyone involved. This includes public servants and private individuals. Biyani did not immediately respond to a Reuters request for comment, Tradersunion reported. These are allegations, and the case is under investigation. --- ### Sources - [tradersunion: India probes Future Retail over alleged bank fraud case](https://tradersunion.com/news/companies/show/4133125-india-probes-future-retail-bank-fraud/?ref=newsanek.com) - [Rediff.com: Future Retail, Kishore Biyani Face CBI Probe Over Rs 904 Crore Bank Fraud](https://www.rediff.com/business/report/cbi-books-kishore-biyani-future-retail-in-rs-904-cr-bank-fraud/20261106.htm?ref=newsanek.com) - [The New Indian Express: CBI books Kishore Biyani, Future Retail in alleged Rs 904 crore bank fraud](https://www.newindianexpress.com/business/2026/Nov/06/cbi-books-kishore-biyani-future-retail-in-alleged-rs-904-crore-bank-fraud?ref=newsanek.com)