A PROJECT ON CORPORATE FRAUD

INTRODUCTION

 Kingfisher Airlines is started by International

Business Baron Dr.Vijay Malya.
 Kingfisher Airline is an airline group based in
India.
 It’s head office is in Mumbai.

 Kingfisher Airline was established in 2003 and

started its operations on 9th May 2005 and its
International operations on 3rd September 2008.
 Till December 2011, Kingfisher Airlines had the
second largest share in India’s Domestic air
travel market.
COMPANY’S PERFORMANCE – BEFORE
FRAUD
FRAUD TACTICS
 Kingfisher Airlines
borrowed loans from 17
banks and does not
even pay up when it has
the capacity to pay.

 Kingfisher Airlines has

not used the loan for
the purpose borrowed
and diverted the funds
elsewhere.
CONTINUE…
 According to SFIO report Kingfisher Airlines
created new divisions backdated book entries to
avoid paying taxes.

 The airline had claimed lenders and bank

officials, that it had proactive measures in place
to improve performance and took loans.

 Support of Government Authorities he influenced

the bank officials to approve the loans.
MAIN PLAYERS INVOLVED

 A. Raghunandhan – C.F.O of KFAL

 Shailesh Barkar – V.P of Finance

Deputy General Managers:-

 Amit nidkarni

 A.c Shah

Yoghesh Agarwal – Former IDBI chairman

LEGAL PROCEEDINGS
According to the news: Can’t punish Vijay
Mallya in absentia: Supreme Court !

CHARGES :
 Section 120 B.

 Section 420.

 Section prevention Corruption act 1998.

 Non- bailable warrant.

- Court Order on 10th July 2017

CONTINUE…
 Extradition Request submitted by the Ministry of
external affairs.

 Extradition took place in U.K on behalf of

INDIAN GOVERNMENT.

1. Focused on mislead bank and misuses of

proceeds
2. Got bail with in 2 days.
CORPORATE GOVERNANCE

 Set of process and policies by which companies and

countries are directed, administrated and controlled.

Good Feature of Corporate governance

 Create better bond with the boards.

 Keep the information and accounts accurate.
 Better connection with shareholders.
 Better control function of the internal audit and
technical knowledge.