Delhi High Court Seeks Biyani Brothers' Assets in ₹800 Crore Recovery Case
· Business · LiveMint, Times of India
The Delhi High Court has ordered Future Group promoters Kishore Biyani and Rakesh Biyani to disclose their assets, including bank accounts and shareholdings, within a week. This directive comes as lenders, including Catalyst Trusteeship Ltd and Phoenix ARC Ltd, seek to recover nearly ₹800 crore in unpaid loans. The loans are linked to personal guarantees provided by the brothers for two Future Group companies. Lenders have expressed concerns about potential asset transfers before claims are resolved.
Why it matters
This legal action could significantly impact the personal wealth of the Biyani brothers and sets a precedent for lenders pursuing personal guarantees in corporate defaults, affecting future lending practices in India.
Read the original report — LiveMint
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