This paper primarily dwells on the fraud examination of the legendary airline company, Kingfisher Airlines, led by the flamboyant Chairman of the United Breweries Group and hitherto Kingfisher Airlines, Mr. Vijay Mallya. For the purpose of examination of fraud, two financial models in relation to the topic were employed and tested, viz. Beneish Model and Benford’s Law, while analyzing, in brief, the quality of financial auditing done using the annual reports of Kingfisher Airlines Ltd. for the period of 5 years from the financial year 2008-2009 to 2012-2013. The three variable and the five variable models of the Beneish Model were employed to obtain a score <-2.2, indicating that it was ineffective in identifying fraud by Kingfisher Airlines. Benford’s Law proved to be more effective. Due to the presence of abnormal data points or anomalies, a high chance of fraud was proved in the company’s financials.