Kingfisher CFO appears before ED; Vijay Mallya also summoned

| Friday, March 11, 2016 - 17:28
First Published |
Vijay Mallya

New Delhi: Former Chief Financial Officer of Kingfisher Airlines, A. Raghunathan, had appeared before the Enforcement Directorate (ED) on Friday following which the ED decided to summon Vijay Mallya.

Former CFO of the now defunct Kingfisher Airlines had been summoned by the ED and had appeared before them earlier in the afternoon. He answed to the ED in regards to the money that the now defunct company owes. A consortium of 17 banks has approached the Apex Court for recovery of an amount close to Rs. 9000 crore.

The summon had been issued to Raghunathan on Thursday. The case has been registered under the Prevention of Money Laundering Act.

The ED after verifying several documents and transactions that had to be called in from Mumbai, decided to summon Vijay Mallya, himself. According to reports Raghunathan has put the blame on Mallya for the financial crisis that caused the downfall of Kingfisher Airlines and said that he had only worked as per Mallya’s instructions.

(Also Read: Vijay Mallya was accompanied by Pinky Lalwani on flight out of India)

The liquor baron has to appear before the ED on the 18th of March. Reports say that the ED has asked Mallya to furnish documents related to his personal finances.

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