KFA official gets 18-mnth imprisonment in cheque bounce cases

Thursday, Sep 22, 2016,16:27 IST By Metrovaartha A A A

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

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

Raghunathan’s counsel said that several warrants were issued by different courts and he was unable to appear before this court. He sought for splitting the case against Raghunathan. He had appeared before other courts in the past few days in connection with NBWs issued against him after he had moved the High Court, and got the warrants recalled.

Reddy argued that the High Court in its order (for recall of NBWs) had “made it clear that its order will not stand in way when the matter reached at the stage of judgement, pronouncement of sentence or conviction of the accused in the case”.

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 had so far not appeared/attended the court), and then pass its order with regard to sentencing them or imposing fine or both.

Latest News