Fri, Feb 24, 2017 | updated 01:51 PM IST

Hyderabad Court sends Kingfisher Airlines former CFO to 18 months imprisonment

Updated: Sep 22, 2016 18:18 IST

Hyderabad [India], Sept. 22 (ANI): A Hyderabad court on Thursday 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.(GHIAL)

Third special court Magistrate M. Krishna Rao also imposed Rs. 20,000 as fine in each case on Raghunathan after the latter appeared before the court.

The court had on April 20 convicted Kingfisher Airlines, Vijay Mallya and Raghunathan, in connection with two cheque bounce cases involving Rs. 50 lakh each, under relevant sections of the Negotiable Instruments Act.

During arguments today, GHIAL counsel G. Ashok Reddy submitted that it was after five months Raghunathan had finally appeared before this court.

During arguments today, GHIAL counsel Reddy submitted that it was after five months Raghunathan had finally appeared before this court.

He further informed that Mallya is absconding and is out of the country and sought the court to proceed with sentence order against Raghunathan.

The matter relates to cheques issued by Kingfisher Airlines Ltd to GHIAL, which operates Rajiv Gandhi International Airport, towards charges for using the facilities at the airport for Kingfisher Airlines flights.

The court had earlier issued non-bailable warrants against Kingfisher Airlines, its chairman Mallya and Raghunathan on the ground of dishonouring the two cheques.

It had earlier said that before imposing the quantum of punishment, it would hear the plea of the convicts (Mallya and others, who have so far not appeared/attended the court), and then pass its order with) regard to sentencing them or imposing fine or both.

As per the GMR counsel, a total of 17 cases have been filed against Kingfisher Airlines in different courts over outstanding amount of Rs. 22.5 crore, which it owes to GMR.

The magistrate told Raghunathan that he has been found guilty under relevant sections of Negotiable Instruments Act.

Reddy, citing certain court rulings, submitted that this court can pass sentence against the company and also against Mallya

"One of the accused is present in the court and the court is requested to also sentence Kingfisher Airlines and Vijay Mallya, to avoid delay. Notwithstanding absence of Vijay Mallya, the court can sentence and impose fine against Vijay Mallya," Reddy submitted. (ANI)

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