The agency is also investigating the overall financial structure of Kingfisher Airlines.
The company, owned by the UB Group, had been relying on internal group reserves and debt to manage its operations over the past two years and this infusion is expected to fuel its sustained growth.
The government on Friday said it has penalised Kingfisher Airlines with a fine of over Rs 26 crore (Rs 260 million) for delay in the payment of tax deduction at source (TDS).
Kingfisher Airlines is looking to roll over close to Rs 800 crore of its short-term debt, even as it finalises the paperwork to borrow another Rs 1,500 crore from a few Indian public sector banks.
Kingfisher Airlines, India's first full service low-cost carrier, will induct 11 new Airbus A320 aircraft to its fleet by January 2006, its chairman and managing director Vijay Mallya said on Wednesday.
Analysts say piecemeal bailouts won't work, serious cash infusion is needed.
At the beginning of this year, his stake in the airline stood at 30.14%.
Shares of Kingfisher Airlines on Friday slumped by over 19 per cent to an all-time low on the bourses, before recovering some ground, as the cash-strapped company continued to face turbulence after it cancelled 30 more flights on Thursday.
Kingfisher Airlines' debt restructuring package has received an in-principle nod from bankers. The package will be implemented within 120 days of receiving the Reserve Bank of India's (RBI) nod. Kingfisher, the second largest carrier in terms of market share, has debt of around Rs 6,000 crore across 12 lenders such as the State Bank of India, Bank of India and Vijaya Bank, among others.
Kingfisher Airlines has objected to being identified as a 'wilful defaulter' by state-run UCO Bank.
Kingfisher Airlines Ltd, which has been grounded for almost a year for want of cash, is in talks with a foreign investor for a potential stake sale, Chairman Vijay Mallya said on Tuesday, without naming any investor.
Spelling fresh trouble for Kingfisher Airlines, aviation regulator DGCA is likely to issue a show-cause notice asking why its flying license should not be suspended or cancelled.
The company's meeting with the striking employees failed to resolve the deadlock over unpaid salaries.
Kingfisher Airlines's has hit a rough patch again with three of its directors resigning for better prospects.
The Central Bureau of Investigation has started a preliminary enquiry looking into the Rs 950 crore (Rs 9.5 billion) alleged bad loan given by IDBI Bank to Kingfisher Airlines ignoring the company's negative credit ratings and net worth.
The company's board approved the airline's plan to raise the amount through issuance of equity shares or preference shares or through global depository receipts.
The move comes when Kingfisher remains the only listed airline in India to have made losses in the third quarter of the current financial year.
The company had dent of about Rs 14,070 crore.
An open letter written by women employees of KFA alleged that the company did not pay salaries
Cars, towing machines, forklifts, tractors, fire extinguishers, and iron ladders will be e-auctioned.
IDBI Trusteeship Services, in its capacity as the lenders' trustee to Kingfisher Airlines, has invoked a little over 4.93 mn shares worth Rs 1,300 crore.
Lenders of bankrupt airline Jet Airways, led by the State Bank of India (SBI), on Thursday told the Supreme Court that successful bidder Jalan Kalrock Consortium (JKC) was "unwilling" to pay the dues and that the "liquidation" was the only option left. The bench led by Chief Justice of India (CJI) DY Chandrachud was hearing the SBI-led consortium plea against the NCLAT's March order upholding ownership transfer of the bankrupt airline to JKC.
As per RBI guidelines, a wilful defaulter tag would be given if it is found that a loan taken is diverted for some other use rather than for which it was availed.
The agency is looking at alleged "diversion of funds and financial reporting frauds".
Public sector banks were allotted 11,63,30,639 shares in the company on conversion on March 31, 2011.
At the EBIDTA level domestic operations showed an operating loss of Rs 178 crore.
Mallya, who is wanted in India on alleged fraud and money laundering charges amounting to an estimated Rs 9,000 crore, also said all his companies have effectively ceased operations and manufacturing following the lockdown in India.
Kingfisher has faced lawsuits from GMR and GVK-group run airports and also faced cases of cheque bouncing.
Captain Sanjay Sudan had filed the suit against Kingfisher Airlines seeking recovery of around Rs 13 lakh (Rs 1.3 million), his outstanding salary for three months from the airline.
The airline which has not flown for more than a year, had reported a loss of Rs 755.17 crore (Rs 7.55 billion) a year earlier, Kingfisher said in a filing to the BSE.
DIAL has filed four cases in June 2012 against Mallya over KFA's cheques totalling Rs 7.5 crore not being honoured.
From highways connecting once-remote regions to aviation networks carrying millions, India's infrastructure story is one of transformation.
SBI-led consortium of 17 banks had a total exposure of about Rs 6,500 cr to Kingfisher Airlines.
Sebi on Friday barred fugitive businessman Vijay Mallya from the securities markets and restrained him from associating with any listed firm for three years in the matter of routing of funds to the Indian securities market using overseas bank accounts with UBS AG. The Indian government has been attempting to extradite Mallya from the United Kingdom to face fraud charges related to his now-defunct company Kingfisher Airlines. Mallya has been living in the United Kingdom since March 2016.
New Delhi District Consumer Disputes Redressal Forum, presided by C K Chaturvedi, asked the company to pay Rs 45,792 to Delhi-based family comprising Sandeep Sharma, Navdeep Sharma, Monika Sharma and Poonam Sharma.
KFA plans to raise $250 million (about Rs 1,100 crore) through GDRs and Rs 500 crore (Rs 5 billion) through a domestic issue in the next couple of months.
The Yeti Airlines aircraft took off from Kathmandu's Tribhuvan International Airport at 10.33 am on Sunday and crashed on the bank of the Seti River between the old airport and the new airport in Pokhara, minutes before landing, according to the Civil Aviation Authority of Nepal.
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