Tuesday, September 15, 2015

#Vijay Mallya and #Kingfisher Airlines under SFIO scanner for Rs.8000 crore fraud

Serious Fraud Investigation Office (SFIO)  has issued notices to Kingfisher Airlines,United Spirits Ltd (USL), Vijay Mallya and UB Group for over Rs.8000 crore fund diversion from Kingfisher Airlines.The alleged financial irregularities took place between 2005 and 2014.

In a BSE filing today United Spirits has confirmed that the SFIO has sought information from the company about alleged fund diversions by Kingfisher Airlines. USL said it has received a letter from SFIO in connection with its investigation into Kingfisher Airlines.A spokesman for Mallya's UB group declined to comment on the SFIO probe on Tuesday.