Bank of India has classified Kishore Biyani-promoted Future Enterprises Ltd’s ₹575.40-crore non-performing asset account as fraud and fully provisioned for the exposure.

Bank of India (BoI) has classified the Future Enterprise Ltd (FEL) account, currently listed as a Non-Performing Asset (NPA) in its books, as fraud.

Kishore Biyani-promoted FEL owes the public sector bank Rs 575.40 crore, per the BoI’s regulatory filing. The Bank has fully provisioned for this exposure.

The filing said the fraud classification follows the Bank’s “Policy on determination and disclosure of Material events / information”.

An account is classified as fraud by a Bank if there is misappropriation of funds and criminal breach of trust; fraudulent encashment through forged instruments; manipulation of books of accounts or through fictitious accounts, and conversion of property; forgery with the intention to commit fraud by making any false documents / electronic records; among others.

Published on October 12, 2026