The investigation into an alleged fraud at the now defunct Kingfisher Airlines Ltd has run into an unlikely hurdle: the airline’s books of accounts have vanished.Executives of the Kingfisher Airlines have informed the authorities that its accounting books have gone missing, Reasoning that after a vendor took away computers and servers that had stored the financial accounts related to non-payment of dues. Kingfisher Airlines tells Serious Fraud Investigation Office that an IT services vendor took away computers and servers with the accounts information
Executives of the grounded airline have informed officials of the Serious Fraud Investigation Office (SFIO) that a vendor had carted away the computers and servers that stored the financial accounts of the airline for non-payment of dues. The airline claims that it has no backup of the files, two SFIO officials said, requesting anonymity.
Mallya, who left the country as creditors approached the courts to recover over Rs.9,000 crore owed by the airline, has declined to return to India claiming that he fears an unfair trial.
Demanding his return are at least five law enforcement and judicial bodies in India—the Supreme Court, the Enforcement Directorate (ED), the service tax department, SFIO and the income-tax department.
Mallya, 60, who presided over a liquor empire until a few years ago and was ranked the 45th richest Indian by Forbes in March 2012 with a net worth of $1 billion, was summoned by the ED in April.