Mumbai: The Chief Financial Officer of Kingfisher Airlines is at the Enforcement Directorate office in Mumbai in connection with the money laundering case.
On Thursday, the ED summoned A Raghunathan, the CFO, as well as a five officials of IDBI Bank as part of its probe into the money laundering case. The IDBI officials are also expected to reach the ED office shortly.
The CBI has filed an FIR against the officials for sanctioning loans worth Rs 9,000 crore to Kingfisher Airlines.
The officials indicated that the agency will question some important functionaries of the bank and the airlines before they decide on issuing summons to the main player and liquor baron Vijay Mallya in the case.
The agency is also investigating the overall financial structure of Kingfisher airlines and if any possible kick backs were made.
The ED has pressed charges under various sections of the PMLA against Mallya and others named in the CBI complaint.
The CBI had booked Mallya, director of Kingfisher Airlines, the company, Raghunathan and unknown officials of IDBI Bank in its FIR alleging that the loan was sanctioned in violation of norms regarding credit limits.
The CBI action came as part of its wide probe into criminal aspects of loans declared to be non-performing assets by public sector banks.
The ED is looking into the "proceeds of crime" that would have been generated using the slush funds of the alleged loan fraud and it is also probing if some of this amount was sent abroad illegally, they said.
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