Serious Fraud Office probing Kingfisher over fund diversion

The Serious Fraud Investigation Office has launched an investigation against Kingfisher Airlines over alleged mismanagement of funds exceeding Rs 8000 crore, CNBC-TV18's Prerna Baruah reports, quoting unnamed sources.Sources say the SFIO has already sent notices to United Breweries, Kingfisher Airlines and United Spirits and is likely to summon Vijay Mallya, executives of United Breweries and United Spirits.The SFIO is probing alleged financial irregularities from 2005 to 2014, which may have been contributed to the eventual collapse of the airline.The SFIO is probing the flow of funds between Kingfisher Airlines and group companies United Spirits and United Breweries.