Bombay HC sets aside Bank of India's fraud tag on Biyani brothers
The Bombay High Court has overturned Bank of India's (BOI) move to label the accounts of Future Lifestyle Fashions (FLFL) promoters, Kishore Biyani and Rakesh Biyani, as fraudulent. The court ruled that the bank did not offer a justification for its action, which is a requirement under the RBI's 2024 Master Directions on fraud. The Biyanis had filed a legal challenge against the bank's classification notice issued on June 21, 2025.
by shortkt.com✓