‘No hope, better if I die in…’: Jet Airways' Naresh Goyal breaks down in court

Naresh Goyal was arrested in September by the Enforcement Directorate (ED) last year in an alleged fraud of ₹538 crore at the Canara Bank.

Updated on: Jan 7, 2024, 09:39:19 IST

By HT News Desk

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Jet Airways founder Naresh Goyal on Saturday broke down in court, saying he had ‘lost every hope of life’ and would be better if he died in jail than live in the present situation.

Jet Airways founder Naresh Goyal was arrested on September 1 (File Photo)

Goyal, 74, arrested in September by the Enforcement Directorate (ED) last year in an alleged fraud of ₹538 crore at the Canara Bank, submitted to court that he misses his wife Anita, who is in the advanced stage of cancer, PTI reported.

According to the court records, Goyal said that his health condition is very bad and precarious. The Jet Airways founder is currently in judicial custody at Mumbai's Arthur Road Jail. Goyal said that his wife is bedridden and their only daughter is unwell.

“I heard him patiently and also observed him when he made the submissions as such. I found that his whole body was trembling. He needs assistance even to stand,” the judge noted as per the court records.

ALSO READ: Goyal used proceeds of crime for personal gain: ED chargesheet

‘Knees swollen, I’m unable to fold legs'

Goyal told court that he experiences severe pain while urinating and sometimes blood is passed through urine. According to the businessman, he has become very weak and there is no use referring him to Mumbai's JJ Hospital.

Why was Naresh Goyal arrested?

On July 20 last year, the ED had carried out raids on Naresh Goyal and his associates. The raids were conducted after an FIR registered by the Central Bureau of Investigation (CBI) against Jet Airways India Limited, him, his wife Anita, ex-company executive G Shetty and unknown public servants on the basis of Canara Bank's complaint.

As per the FIR, Canara Bank alleged it sanctioned credit limits and loans to the airline to the tune of ₹848.86 crore, out of which ₹538.62 crore is outstanding. According to the report, the account was declared ‘fraud’ on July 29, 2021.

The bank alleged that the forensic audit of Jet Airways showed that it paid "related companies" ₹1,410.41 crore out of the total commission expenses, thereby diverting funds.

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