Sebi lens on now-defunct Kingfisher Airlines' directors

Move comes after SFIO alleges independent directors of the airline didn't follow proper rules

The Securities and Exchange Board of India (Sebi) is considering examining the role of independent directors and the potential conflict of interest at the now defunct Kingfisher Airlines. 

The move follows a report by the Serious Fraud Investigation Office (SFIO) where it has alleged that the independent directors of Kingfisher Airlines didn’t follow proper rules. The SFIO, an enforcement agency for probing financial frauds, has submitted its report on a loan default by the Vijay Mallya-promoted airline.

Sources said the SFIO had shared its probe findings with all the regulators concerned, enforcement agencies and recommended the course of action.

“We are looking into