Enforcement Directorate Quizzes Former CFO Of Kingfisher

The defunct Kingfisher Airlines Chief Financial Officer (CFO), A Raghunathan, on Friday (March 11) has appeared before Enforcement Directorate (ED) as part of its probe into a money laundering case. CBI had registered a case against Mallya, Kingfisher Airlines, CFO of the airlines, and unknown officials of IDBI Bank in its FIR alleging that Rs 900 crore IDBI loan was sanctioned in violation of norms regarding credit limits on the basis of complaint received from the bank. Clarifying his position in the loan owed by KFA, Mallya in a recent statement had said after the closure of the airline, since April, 2013, the banks and their assignees have recovered, in cash, an aggregate of Rs 1,244 crore from sale of pledged shares

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Vijay Mallya’s key adviser and former Chief Financial Officer (CFO) of United Breweries Group Ravi Nedungadi appeared before Enforcement Directorate (ED) on Friday (March 11). Nedungadi, 58, is the director in the board of United Breweries Holdings Ltd (UBHL).

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