The Enforcement Directorate (ED) on Friday night arrested Jet Airways founder Naresh Goyal in a money laundering case linked to an alleged bank fraud of ₹538 crore at the Canara Bank. Goyal was taken into custody under the Prevention of Money Laundering Act (PMLA) following a long session of questioning at the central agency's office.
The 74-year-old founder is expected to be produced before a special PMLA court in Mumbai on Saturday where the ED will seek for his custodial remand, reported news agency PTI.
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Earlier on July 20, the ED conducted raids on Goyal, and his associates after the Central Bureau of Investigation (CBI) registered an FIR against Jet Airways (India) Limited (JIL), Goyal, his wife Anita, former company executive G Shetty, and unknown public servants - based on the Canara bank's complaint.
What does the FIR against Goyal and his associates say?
According to the FIR, the bank alleged that it sanctioned credit limits and loans to Jet Airways (India) Ltd (JIL) to the tune of ₹848.86 crore - out of which ₹538.62 crore is outstanding. Reportedly, the account was declared "fraud" on July 29, 2021.
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{{/usCountry}}According to the FIR, the bank alleged that it sanctioned credit limits and loans to Jet Airways (India) Ltd (JIL) to the tune of ₹848.86 crore - out of which ₹538.62 crore is outstanding. Reportedly, the account was declared "fraud" on July 29, 2021.
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{{/usCountry}}The bank, in the FIR, further alleged that the forensic audit of JIL showed that it paid "related companies" ₹1,410.41 crore out of the total commission expenses, thereby diverting funds. It added that JIL had paid personal expenses such as salaries of staff, phone bills, and vehicle expenses among others of the Goyal family.
Meanwhile, in February, the Bombay High Court had quashed a money-laundering case lodged by the ED against Goyal and his wife on the basis of a Mumbai police case to probe charges of cheating and forgery on a complaint from Akbar Travels.
(With inputs from PTI)