The claims were filed a few days ago in the Mumbai Bench of the National Company Law Tribunal (NCLT) and are yet to be accepted by the court, documents seen by ET show.
The main lender of the Central Bank is
(FEL) which owes a total of ₹6,778 crore to lenders and bondholders.
According to the FEL website, Kishor Biyani is described as the vice-chairman while Vijay Biyani has been named as the managing director. Sunil Biyani is a former director of FEL.
All three had given personal guarantees for the loan implemented by the subsidiary Iskrupa Mall Management,
Trading and Agency and Unique Mall as per documents seen by ET.
Documents reveal that Kishor and Vijay Biyani have given total guarantees of ₹513 crores, while Sunil Biyani has given guarantees of ₹21 crores. The cases against him are part of 15 separate cases registered against group companies. The bank did not respond to an email seeking comment.
It is the largest debtor in the group with approximately ₹17,000 crore dues. Two other listed companies – Future Enterprises which holds its own supply chain, and which has apparel brands such as Central and Brand Factory – add another ₹11,000 crore to the debt pile, leaving group-level outstanding ₹28,000 crore.
“The claims are part of the banks’ efforts to do whatever is possible. We will pursue cases to ensure maximum recovery. Other banks with outstanding loans to the group will also get involved in individual bankruptcy proceedings,” a person said. direct knowledge of the case.
Another person aware of the situation said, “The truth is that there are many challenges to resolution of these loans and court delays are not helping. Banks are doing whatever they want to fix, but There doesn’t seem to be a clear end.”
Last week, Bank of India dragged Future Lifestyle Fashions to the NCLT under the Insolvency and Bankruptcy Code for recovery of dues. The BoI’s plea against Future Retail, the group’s largest borrower, was accepted by the NCLT in July.