SBI alleges Future Retail misused sanctioned loan funds
In short
SBI has alleged that Future Retail did not use sanctioned loan money as agreed. The allegation is linked to the ₹904-crore bank fraud case involving Kishore Biyani and the group’s collapse.
What the reporting says
SBI alleged that Future Retail failed to use sanctioned funds in line with the loan terms, according to a Hindu Industry summary on the ₹904-crore bank fraud case linked to Kishore Biyani and the group’s collapse. The allegation is tied to the lender’s case against the company.
Why it matters
SBI alleged that Future Retail failed to use sanctioned loan funds according to the terms and conditions of the facilities, in connection with the ₹904-crore bank fraud case involving Kishore Biyani and the wider group collapse.