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SEBI slaps Kishore and Rakesh Biyani with ₹50 lakh fine over Future Retail disclosure lapses
Business
Published on 13 May 2026
Some related party deals lacked mandatory approvals
SEBI fined Kishore Biyani, Rakesh Biyani and former CFO C P Toshniwal a total of ₹50 lakh for breaching disclosure norms and related party transaction rules in the Future Retail case. The regulator said relationships and transactions were not properly disclosed and some deals had not received mandatory approvals. The wider probe also examined allegations of account manipulation and fund siphoning.
- SEBI imposed a combined ₹50 lakh penalty in the Future Retail matter
- Disclosure of relationships and transactions was found inadequate
- Some related party transactions lacked mandatory approvals
- Investigation included allegations of account manipulation and fund siphoning
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times