Most Bizarre: Kingfisher Airlines' Accounting Books Have Gone Missing

04/07/2016 11:00 AM IST | Updated 15/07/2016 8:27 AM IST
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MUMBAI, INIDA NOVEMBER 15: Vijay Mallya, Chairman of Kingfisher Airlines at press conference to announce the results at Regency Ballroom, Hyatt Regency, Andheri (E) on November 15, 2011 in Mumbai, India. (Photo by S Kumar/Mint via Getty Images)

In a strange turn of events, executives of the now grounded Kingfisher Airlines have informed the authorities that its accounting books have gone missing after a vendor took away computers and servers that had stored the financial accounts related to non-payment of dues, the Mint reported.

The airline has said it does not have backup of the accounting records, Mint report said citing officials from the Serious Fraud Investigation Office (SFIO).

Vijay Mallya-promoted Kingfisher Airlines is under investigation into alleged fraud and the non-payment of Rs 900-crore in loans that the company owes a consortium of public banks including the State Bank of India.

One of the officials cited in the report said the investigation has now been delayed as a result of the missing accounting books, adding the authorities will be seeking out the required detail from lenders and other financial entities connected to Kingfisher Airlines.

Mallya has accused government agencies of pursuing a “heavily biased investigation" after several law enforcement agencies including the Enforcement Directorate and the Income Tax Department, have demanded his return after he left the country in June.

Last month, a special court in Mumbai declared the UB Group chairman a ‘proclaimed offender’ after the Enforcement Directorate alleged Mallya had used about half of a Rs.900 crore loan from IDBI Bank for other purposes.

In June, Mallya left India for the UK in the midst of the controversy, and has publicly denied accusations of graft and lashed out at the draconian methods of the Indian authorities aiming to recover money from him.

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