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January 2011

Kingfisher Airlines Ltd. (31-3-2010)

By Himanshu V. Kishnadwala | Chartered Accountant
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Section A : Disclosures on Clause 21 of CARO, 2003 regarding
fraud noticed or reported on or by the company during the year


8. Kingfisher Airlines Ltd. (31-3-2010)

From Auditor’s Report :

As per the information and explanations furnished to us by
the management, no material frauds on or by the Company and causing material
misstatements to financial statements have been noticed or reported during the
course of our audit, except for charge backs received by the Company aggregating
to Rs.475.44 lacks from the credit card service providers due to misutilisation
of credit cards by third parties.

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