Scotland Yard is considering bringing a corporate manslaughter charge against the world's largest private security firm over the death of an Angolan deportee.

Detectives investigating the death of Jimmy Mubenga, who collapsed while being deported on a commercial flight from Heathrow, have interviewed whistleblowers from G4S, the company hired by the government to deport foreign nationals.

They are considering whether the company could be held responsible for his death under rarely used legislation that came into force three years ago.

Passengers on British Airways flight 77 told police they saw three G4S guards heavily restraining Mubenga, who they said had been complaining of breathing difficulties before he collapsed. The guards were later arrested in connection with the death and, following interviews this week, were bailed until 4 May. They could face manslaughter charges.

However, sources with knowledge of the case have said police are also considering passing a file to the Crown Prosecution Service recommending a corporate manslaughter charge against G4S. The first and only company to be convicted under the Corporate Manslaughter and Corporate Homicide Act 2007 was found guilty last month. Cotswold Geotechnical Holdings was fined £385,000 for the death of Alexander Wright, 27, a geologist who suffocated when he became trapped in a collapsed trench.

Under the legislation, prosecutors need to prove a person's death was caused by a gross breach of duty of care by a company. They also need to convince a jury that the actions of a company's "senior management" were a substantial element in that breach.

A prosecution of this kind against G4S, which receives more than £600m from the government for services including the running of four prisons, three immigration removal centres and 675 court and police cells, would be highly damaging to the Home Office. G4S is the second-largest private employer in the world and boasts a £7bn turnover.

Police have recently interviewed three G4S whistleblowers, who last month told parliament that the company repeatedly ignored warnings from staff that potentially lethal force was being used against deportees. They said executives were warned about one technique nicknamed "carpet karaoke'', which involved bending deportees over in aircraft seats to silence them. The whistleblowers, who include a G4S charter operations manager who said he warned seniors they risked "playing Russian roulette with detainees' lives", are known to be cooperating with police and providing detailed paperwork they say corrobarates their claims.

Detectives are also seeking to track down other individuals from G4S known to have concerns about safety standards and training at the company.

Heathrow CID opened the inquiry into the death of Mubenga, 46, hours after he collapsed on the aircraft as it prepared for departure to Luanda on 12 October. The flight was delayed for 24 hours and passengers were transferred to a nearby hotel overnight. The following day, the passengers were interviewed by police but, owing to their imminent departure, only spent around 40 minutes each speaking to detectives.

Days later, the Metropolitan police's homicide unit took over the case after the Guardian independently tracked down passengers who said Mubenga had complained he was unable to breathe for several minutes before his collapse. The unit arrested three guards, aged 35, 48 and 49, and questioned them under caution.

Police have tried to trace other passengers for more in-depth interviews.

Four G4S whistleblowers last month submitted evidence to the Commons home affairs select committee. The evidence, obtained by the Guardian, alleged serious failings by G4S. It also contradicted some of what senior G4S officials told MPs at a hearing after Mubenga's death.

Keith Vaz, who Labour MP who chairs the committee, said the possibility that whistleblower evidence could assist the police investigation represented "progress". His committee has yet to decide whether to recall the G4S officials or hold further evidence sessions.

"I am not surprised that the police have decided to take the matter forward given the circumstances surrounding this case," he said. "I am sure the members of the home affairs committee will want to look further into this case during their inquiry into the deportation of detainees."

Committee member Julian Huppert, a Lib Dem MP, said police interest in the parliamentary testimony showed "how strong the committee process is". "I am glad the home affair select committee hearing has led to this outcome," he said.

G4S said in a statement: "As this is the subject of an on-going investigation, we are unable to comment as this time. We can confirm that G4S has received no approach at this time from the authorities in relation to the company's position and potential liabilities."