Bank of India declares Rs 575 crore exposure to Future Enterprises as fraud
The Bank of India has officially marked its ₹575 crore exposure to Future Enterprises as fraudulent. Previously categorized as a non-performing asset, this account has been sufficiently provisioned. Future Enterprises, helmed by Kishore Biyani, entered insolvency proceedings back in 2022, focusing on retail infrastructure development and managing a variety of subsidiaries and joint ventures across different sectors.
Key Takeaways
- The Bank of India has officially marked its ₹575 crore exposure to Future Enterprises as fraudulent.
- Previously categorized as a non-performing asset, this account has been sufficiently provisioned.
- Future Enterprises, helmed by Kishore Biyani, entered insolvency proceedings back in 2022, focusing on retail infrastructure development and managing a variety of subsidiaries and joint ventures across different sectors.
The Bank of India has officially marked its ₹575 crore exposure to Future Enterprises as fraudulent. Previously categorized as a non-performing asset, this account has been sufficiently provisioned. Future Enterprises, helmed by Kishore Biyani, entered insolvency proceedings back in 2022, focusing on retail infrastructure development and managing a variety of subsidiaries and joint ventures across different sectors.
Original Publisher Attribution
This summary was curated from Economic Times.