Thursday, September 22, 2016

Kingfisher's A Raghunathan gets 18-month jail sentence in cheque bounce case

Hyderabad: A local court today sentenced A Raghunathan, former CFO of Kingfisher Airlines Ltd, to 18 months imprisonment in connection with two cheque bounce cases filed against him and businessman Vijay Mallya by GMR Hyderabad International Airport Ltd.
Third Special Court Magistrate M Krishna Rao also imposed Rs 20,000 fine in each case on Raghunathan after the latter appeared before the court.

Earlier, on several occasions, the order on quantum of punishment had got adjourned as the warrant issued against Raghunathan was still pending.
The court had on April 20 convicted Kingfisher Airlines, Mallya and Raghunathan, in connection with two cheque bounce cases involving Rs 50 lakh each, under relevant sections of the Negotiable Instruments Act.
The matter relates to cheques issued by Kingfisher Airlines Ltd to GMR Hyderabad International Airport Ltd (GHIAL), which operates Rajiv Gandhi International Airport, towards charges for using the facilities at the airport for Kingfisher Airlines flights.
22/09/16 PTI/Business Standard
To Read the News in full at Source, Click the Headline

0 comments:

Post a Comment