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CBI questions CFOs of KFA, UB Group

CBI on Tuesday questioned the then Chief Financial Officers of defunct Kingfisher Airlines and UB Group, A Raghunathan and Ravi Nedungadi, respectively, in connection with alleged loan default case against the airline.

Vijay Mallya-AV

CBI sources said both appeared for questioning in the afternoon and the exercise is still continuing.

CBI had registered a case against the then UB Group Chairman Vijay Mallya, Kingfisher Airlines, its Chief Financial Officer Raghunathan and unknown officials of IDBI Bank alleging that a Rs 900 crore IDBI Bank loan was sanctioned in violation of the norms regarding credit limits on the basis of a complaint received from the bank.

Mallya, according to sources, left for London by the 9W122 Delhi-London Jet Airways flight at 12:54 PM on March 2, days before a consortium of banks approached the Supreme Court for his passport to be impounded.

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