New Delhi: The Serious Fraud Investigation Office (SFIO) is carrying out additional inquiries into the case against defunct Kingfisher Airlines, which was owned by defaulter businessman Vijay Mallya.
The white collar crime probe agency, which comes under the corporate affairs ministry, in a report has flagged various violations by individuals, including Mallya, and entities related to Kingfisher Airlines.
When asked about the status of probe into the Kingfisher matter, corporate affairs secretary Injeti Srinivas said one report has been submitted. “One report has been submitted. Some more additional inquiries are taking place,” he told PTI.
Last month, officials had said the ministry has given its approval for the SFIO to file prosecution cases against Mallya and others in the Kingfisher Airlines matter. Specific details about the matter could not be immediately ascertained.
The SFIO had red-flagged a slew of violations of companies law by Mallya, Kingfisher Airlines and officials, including serious corporate governance lapses, officials had said.
Among others, the probe agency had recommended examining the role of some banks as well as bank officials in sanctioning credit facilities to the airline apart from action against promoter directors, they had said.
Mallya, who has been based in the UK for a long time, is wanted in India for Kingfisher Airlines’ default on loans worth nearly Rs9,000 crore and some other matters. The ED and the Central Bureau of Investigation (CBI) have already filed their separate chargesheets against the businessman and other accused.
The extradition trial of Mallya is going on in a UK court and the next hearing would start on 10 January. The trial will be for one of its final hearings to determine the “admissibility” of some of the evidence presented by the Indian government, when Judge Emma Arbuthnot will set a timetable for closing arguments and her ruling on whether Mallya can be extradited to India to face fraud and money laundering charges.
The trial, which opened on 4 December, is aimed at laying out a prima facie case of fraud against the embattled businessman. Mallya was arrested by Scotland Yard on an extradition warrant in April this year and has been out on bail on a bond worth £6,50,000.