Bombay HC overturns fraud classification of Biyani accounts
after close1 source ↓written by the desknot a recommendation
The Bombay High Court has set aside Bank of India's classification of Kishore and Rakesh Biyani's accounts as fraud, citing lack of reasoning under the RBI's 2024 Fraud Master Directions. The court ordered their names removed from the RBI's Central Fraud Registry, allowing the bank to initiate new proceedings. This ruling may restore confidence in the Biyanis' financial dealings.
Not investment advice. For informational purposes only.