The Corporate Affairs Ministry has ordered an inspection of the account books of debt -ridden Kingfisher Airlines after receiving complaints from stakeholders alleging violation of company law like provisions on debt-equity ratio as per reports.

The Registrar of Companies, Bangalore, has been asked to carry out inspection of the books of accounts of Kingfisher Airlines under section 234 of the Companies Act, it said. The RoC has sought information from the company about its debt-equity ratio, details of secured and unsecured loans of 2009-10 and 2010-11, daily operational expenses and administrative costs, among other things, the sources said. The order for inspection was issued last week.

The RoC has also been asked to look into possible violations of accounting norms by Kingfisher Airlines in its balance sheet, it said. Section 234 of the Companies Act provides powers to seek more explanation or details from a company or inquire into its financial details if the Registrar is not satisfied.

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