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HC dismisses Naresh Goyal’s plea against arrest by ED in 538-crore fraud case

The Bombay High Court dismissed a petition by former Jet Airways promoter Naresh Goyal, who sought release from jail after being arrested by the Enforcement Directorate in connection with a bank fraud case. The court stated that the grounds of arrest were furnished to Goyal in writing and that he had not challenged any of the remand orders. Goyal was arrested on 1 September for his alleged involvement in a ₹538 crore loan fraud at Canara Bank.

naresh goyal chairman jet airways.photographed at Hindustan times leadership summit nov 22nd 2008 Ramesh Pathania
Updated on Nov 08, 2023 09:48 AM IST
By, Mumbai

Jet Airways’ related firm paid 20 crore to buy SoBO flats for Goyal family: ED

Jet Airways founder Naresh Goyal and his family used INR 20 crore ($2.7m) borrowed from the airline to buy four flats in Mumbai, according to India's Enforcement Directorate. The sum was diverted from a related entity of Jet Airways, which had borrowed INR 538.62 crore from Canara Bank. The ED has filed charges against Goyal, his wife, and four firms as part of its investigation into the INR 538.62 crore fraud case. Goyal was arrested in September.

Jet Airway Chairman Naresh Goyal with his wife Aneeta Goyal during the press conference at his residence. Jet Airways Ltd on Thursday its board had approved the acquisition of Air Sahara for $500 million. HT PHOTO BY MANOJ PATIL. 19/01/2006 (HT PHOTO)
Updated on Nov 03, 2023 07:56 AM IST
By, Mumbai

ED attaches assets worth 538 cr of Naresh Goyal, Jet Airways

The money laundering probe is based on a Central Bureau of Investigation (CBI) case into an alleged bank fraud where it has been alleged that JIL and its promoter and directors cheated banks, which resulted in a massive NPA (non-performing asset) of Rs.538.62 crore

Jet Airways founder Chairman Naresh Goyal was arrested on September 1 (File Photo)
Published on Nov 01, 2023 06:32 PM IST

ED attaches Jet Airways, Naresh Goyal family's assets worth 538 crore

The attached properties include 17 residential flats/bungalows and commercial premises in the name of various companies and persons.

Naresh Goyal (File)
Updated on Nov 01, 2023 04:50 PM IST

Goyal used proceeds of crime for personal gain: ED chargesheet

ED’s money-laundering case is based upon an FIR registered by the Central Bureau of Investigation (CBI) in May this year against Jet Airways (India), Goyal, his wife Anita and former company executive Gaurang Ananda Shetty and unknown public servants and private persons in connection with the alleged fraud at Canara Bank

The probe had accused Goyal of avoiding furnishing details of all his bank accounts in India and abroad and details of movable and immovable properties in India and abroad. (HT PHOTO)
Updated on Nov 01, 2023 07:14 AM IST
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