 "A Raghunathan after stepping out of the ED office in Mumbai (pic: Kamlesh Pednekar)")
“He (Raghunathan) was a key person at Kingfisher Airlines, he was aware about all the financial transactions of the company, which will be crucial for the probe,” an ED official told Business Standard.
Apparently Ravi Nedungadi, chief financial officer (CFO) of United Breweries (UB group), has also reached ED office to submit some important documents sought by the probe agency.
Raghunathan has been summoned by probe agency for his role in entire loan sanctioning process.
Apart from them, Yogesh Agarwal, former chairman and managing director of IDBI Bank, and a few key bank officials who were then part of credit committee have also been summoned.
Sources said Agarwal is likely to be quizzed tomorrow by ED.
Raghunathan has been asked to provide all banking and transaction details of Mallya’s companies, the ED source said.
So far probe in the case revealed that Raghunathan was the one who had asked the bank to release short term loan (STR) at various points of time in 2009. In his communication to banks, he referred to a slew of meetings happened between Mallya and bank officials.
ED has recently filed a case against Mallya, Kingfisher Airlines and key IDBI Bank officials under Prevention of Money Laundering Act (PMLA).
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. The agency is also investigating the overall financial structure of Kingfisher Airlines and if any possible kick backs were made.
Questioning is going to continue till evening, said the source.
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