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Mumbai court closes cheating case against Naresh Goyal, his wife

Jet Airways, Naresh Goyal and his wife Anita were booked on charges of cheating and a criminal breach of trust in February this year by the MRA Marg police.
The ED is conducting a probe against the Goyals and the defunct airline under the Prevention of Money Laundering Act and Foreign Exchange Management Act. (Reuters File photo)
The ED is conducting a probe against the Goyals and the defunct airline under the Prevention of Money Laundering Act and Foreign Exchange Management Act. (Reuters File photo)
Updated on Dec 22, 2020 03:13 PM IST
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Hindustan Times, Mumbai | By Charul Shah

Jet Airways founder Naresh Goyal booked for money laundering, house raided

A Mumbai-based travel company has registered an FIR against Naresh Goyal and his wife for an alleged fraud of Rs 46 crore.
Jet Airways founder Naresh Goyal’s house in Mumbai where ED officials are conducting raids.(ANI Photo)
Jet Airways founder Naresh Goyal’s house in Mumbai where ED officials are conducting raids.(ANI Photo)
Updated on Mar 05, 2020 01:28 PM IST
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Hindustan Times, New Delhi | By HT Correspondent

ED books Jet Airways’ Naresh Goyal, his wife in alleged money laundering case

Naresh Goyal was earlier probed by ED under the Foreign Exchange Management Act (FEMA) for alleged violations of foreign direct investment (FDI) norms.
File photo of Jet Airways’ founder Naresh Goyal.
File photo of Jet Airways’ founder Naresh Goyal.
Updated on Mar 05, 2020 07:40 AM IST
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Hindustan Times, Mumbai | By HT Correspondent

Ex-Jet Airways director Naresh Goyal, wife booked for cheating travel company

The MRA Marg police, following the orders of a metropolitan magistrate on Tuesday registered a complaint against Goyal and his wife under various sections of the Indian Penal Code
Ex-Jet Airways director Naresh Goyal(Reuters file photo)
Ex-Jet Airways director Naresh Goyal(Reuters file photo)
Updated on Feb 23, 2020 07:16 AM IST
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Hindustan Times, Mumbai | By Vijay Kumar Yadav

Jet Airways founder Naresh Goyal being grilled by Enforcement Directorate

The Enforcement Directorate (ED) had recently conducted searches at about a dozen premises of Naresh Goyal and his associates in New Delhi and Mumbai.
Jet Airways founder Naresh Goyal(Reuters file photo)
Jet Airways founder Naresh Goyal(Reuters file photo)
Updated on Sep 06, 2019 04:38 PM IST
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Hindustan Times, Mumbai | By Pratik Salunke

Jet Airways founder Naresh Goyal not cooperating in probe: Centre to HC

The government’s submission came during the hearing of Naresh Goyal’s plea for withdrawing his earlier petition which sought permission to travel abroad.
Naresh Goyal, founder of the now-grounded Jet Airways, is not cooperating in the investigation in a case of alleged fraud of Rs 18,000 crore, the Centre claimed in the Delhi High Court.(Reuters Photo)
Naresh Goyal, founder of the now-grounded Jet Airways, is not cooperating in the investigation in a case of alleged fraud of Rs 18,000 crore, the Centre claimed in the Delhi High Court.(Reuters Photo)
Updated on Aug 23, 2019 07:22 PM IST
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New Delhi | By Press Trust of India

ED conducts raids at Jet founder Naresh Goyal’s premises

They said the searches are being carried out under the provisions of the Foreign Exchange Management Act (FEMA) and are aimed at gathering additional evidence.
The Enforcement Directorate conducted searches on Friday at the premises of Jet Airways founder Naresh Goyal in connection with a case of alleged contravention of the foreign exchange law.(REUTERS)
The Enforcement Directorate conducted searches on Friday at the premises of Jet Airways founder Naresh Goyal in connection with a case of alleged contravention of the foreign exchange law.(REUTERS)
Updated on Aug 24, 2019 01:41 AM IST
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New Delhi/Mumbai | By HT Correspondents

To Naresh Goyal’s foreign trip request, high court’s Rs 18,000 crore googly

Goyal’s lawyer said that his client had to travel abroad by July 10 to preserve his NRI status and not allowing him to do so is a violation of fundamental rights.
According to the plea, on May 25, Naresh Goyal was going abroad for some meetings with foreign investors who had reportedly infused some interest in the defunct jet Airways.(Reuters File Photo)
According to the plea, on May 25, Naresh Goyal was going abroad for some meetings with foreign investors who had reportedly infused some interest in the defunct jet Airways.(Reuters File Photo)
Updated on Jul 09, 2019 11:51 PM IST
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Hindustan Times, New Delhi | By Richa Banka

Govt orders probe into Jet Airways over alleged siphoning of funds

The ministry ordered India’s Serious Fraud Investigation Office (SFIO) to carry out the probe, according to a government order seen by Reuters.
Separately, a government source said that the airline’s former chairman, Naresh Goyal, had approached Delhi High Court to quash an order by authorities that stops him from travelling abroad. (ABHIJIT BHATLEKAR/MINT)
Separately, a government source said that the airline’s former chairman, Naresh Goyal, had approached Delhi High Court to quash an order by authorities that stops him from travelling abroad. (ABHIJIT BHATLEKAR/MINT)
Updated on Jul 04, 2019 11:53 PM IST
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New Delhi | By Reuters

Jet Airways saga: Now lookout notice against airline’s CEO Vinay Dube

Dube had resigned from the services of the company with immediate effect from May 14 due to personal reasons.
The Ministry of Corporate Affairs (MCA) has issued a lookout circular against Dube, similar to the one which was earlier issued on Goyal.(REUTERS/ File photo)
The Ministry of Corporate Affairs (MCA) has issued a lookout circular against Dube, similar to the one which was earlier issued on Goyal.(REUTERS/ File photo)
Updated on Jun 01, 2019 12:38 PM IST
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New Delhi | By IANS

Ex-Jet chairman Naresh Goyal, wife offloaded from flight to London

Naresh Goyal could not be reached for comments. Response to a query sent to Emirates was also awaited.
The checked in baggage, which was in the name of Anita Goyal, was also offloaded from the flight. The flight was scheduled to depart at 3.35 pm.(HT Photo)
The checked in baggage, which was in the name of Anita Goyal, was also offloaded from the flight. The flight was scheduled to depart at 3.35 pm.(HT Photo)
Updated on May 26, 2019 07:53 AM IST
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Hindustan Times, Mumbai | By HT Correspondent

Opinion | Tata and Jet Airways: What goes around comes around

As Jet goes through its jet throes, and Naresh Goyal licks his wounds in obscurity, their single biggest hope has been the Tata Group
As Jet Airways withdraws from its prized slots and premium routes, one of the airlines working overtime to fill those is Vistara(ABHIJIT BHATLEKAR/MINT)
As Jet Airways withdraws from its prized slots and premium routes, one of the airlines working overtime to fill those is Vistara(ABHIJIT BHATLEKAR/MINT)
Updated on May 06, 2019 07:52 AM IST
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By Jaspreet Bindra

Jet is case of throwing good money after bad

The insolvency and bankruptcy code may be the answer to the airline’s crisis
Jet Airways, which turned 25 last year, has been, for at least a decade now, unrecognisable from the one that delighted Indians with its service standards in the 1990s and the early 2000s(Abhijit Bhatlekar/Mint)
Jet Airways, which turned 25 last year, has been, for at least a decade now, unrecognisable from the one that delighted Indians with its service standards in the 1990s and the early 2000s(Abhijit Bhatlekar/Mint)
Updated on Apr 18, 2019 08:01 PM IST
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Hindustan Times | By HT Correspondent

‘Feel sorry for Jet Airways’: Vijay Mallya tweets, renews offer to pay back 100%

Mallya, once known as the king of good times, is facing charges in India of financial irregularities amounting to over Rs 9,000 crore.
Fugitive liquor baron Vijay Mallya has extended his “sympathies” to Naresh Goyal, the founder of crisis-hit Jet Airways, as he questioned the Centre for bailing out ailing Air India, saying that being a PSU “is no excuse for discrimination”.(AP)
Fugitive liquor baron Vijay Mallya has extended his “sympathies” to Naresh Goyal, the founder of crisis-hit Jet Airways, as he questioned the Centre for bailing out ailing Air India, saying that being a PSU “is no excuse for discrimination”.(AP)
Updated on Apr 17, 2019 11:00 AM IST
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New Delhi | By HT Correspondent

Jet Airways management proposes to halt all operations: Report

Former Chairman Naresh Goyal has withdrawn from making a bid for a stake in the company, ET Now reported.
The management of India’s Jet Airways has proposed to suspend all operations of the debt-laden airline at its board meeting.
The management of India’s Jet Airways has proposed to suspend all operations of the debt-laden airline at its board meeting.
Updated on Apr 16, 2019 02:00 PM IST
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New Delhi | By Reuters

Naresh Goyal opts out from bidding for ailing Jet Airways: Report

The full service carrier, which is currently operating less than 10 aircraft, is awaiting fresh fund infusion under a debt resolution plan.
Last month, Goyal and his wife Anita Goyal stepped down from the board of the airline, which has more than Rs 8,000 crore debt.(REUTERS)
Last month, Goyal and his wife Anita Goyal stepped down from the board of the airline, which has more than Rs 8,000 crore debt.(REUTERS)
Updated on May 01, 2020 05:45 PM IST
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Mumbai | By Press Trust of India

Jet Airways lenders still undecided on funding; board to meet Tuesday

Jet Airways pilots’ union, the National Aviators Guild had Sunday deferred a decision to strike from Monday saying that it wanted to give more time to the airline ahead of the lenders’ meeting.
Jet Airways chief executive Vinay Dube in an internal communication has said the lenders could not decide on the emergency funding and that the board of the airline will meet Tuesday to take a call on the future.(Reuters File Photo)
Jet Airways chief executive Vinay Dube in an internal communication has said the lenders could not decide on the emergency funding and that the board of the airline will meet Tuesday to take a call on the future.(Reuters File Photo)
Updated on Apr 15, 2019 07:55 PM IST
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Mumbai | By Press Trust of India

‘No pay, no work’ decision deferred for now: Jet Airways’ pilots guild

The pilots had threatened to stop flying over unpaid salaries.
More than a thousand pilots of debt-laden Jet Airways will not fly from Monday(Mint File Photo)
More than a thousand pilots of debt-laden Jet Airways will not fly from Monday(Mint File Photo)
Updated on Apr 15, 2019 12:30 AM IST
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Hindustan Times, Mumbai | By Neha LM Tripathi

Naresh Goyal pledges 26% Jet stake, more flights cancelled

The carrier announced that it was halting almost all international flights till Friday, except a handful of short haul flights to cities such as Dubai, as its fleet strength swindled rapidly due to an operational funds crunch.
Naresh Goyal pledges 26% Jet stake, more flights cancelled
Naresh Goyal pledges 26% Jet stake, more flights cancelled
Published on Apr 12, 2019 05:42 AM IST
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New Delhi | By HT Correspondent

Debt-laden Jet Airways lenders plan to sell up to 75% stake

The airline is credited with successfully breaking the monopoly of state-run Air India Ltd. and was once India’s second-biggest carrier, but its fleet has dwindled to 26 planes from 124 as recently as January.
Jet Airways, part-owned by Abu Dhabi’s Etihad Airways PJSC, needs 85 billion rupees to get back on its feet after a fare war by budget airlines wiped out profits and it racked up debt of more than $1 billion.(MINT FILE PHOTO)
Jet Airways, part-owned by Abu Dhabi’s Etihad Airways PJSC, needs 85 billion rupees to get back on its feet after a fare war by budget airlines wiped out profits and it racked up debt of more than $1 billion.(MINT FILE PHOTO)
Updated on Apr 08, 2019 12:46 PM IST
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Bloomberg | By Anurag Kotoky and Saloni Shukla

Jet Airways chairman Naresh Goyal steps down, banks take control

Jet Airways, which has been operating for more than 25 years, is grappling with financial crunch and is also looking to raise fresh funds.
Chairman of Jet Airways Naresh Goyal in Mumbai.(REUTERS)
Chairman of Jet Airways Naresh Goyal in Mumbai.(REUTERS)
Updated on Mar 26, 2019 12:45 AM IST
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Hindustan Times, Mumbai | By HT Correspondent

Jet Airways Board meets on interim funding, Naresh Goyal’s future role

The pilots, along with engineers and other highly critical segments of employees, have not been paid salaries from January 1, and have received only 12.5 per cent of their December pay.
Naresh Goyal, chairman of Jet Airways speaks during a news conference in Mumbai.(REUTERS)
Naresh Goyal, chairman of Jet Airways speaks during a news conference in Mumbai.(REUTERS)
Updated on Mar 25, 2019 02:32 PM IST
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Mumbai | By Indo Asian News Service

SBI calls lenders’ meeting with Jet Airways chairman Naresh Goyal, Etihad CEO Douglas

The meeting, to be held at SBI’s office in Mumbai, assumes significance amid differences persisting between Goyal, the lenders and Etihad, which has 24 per cent stake in Jet Airways.
Naresh Goyal, Chairman of Jet Airways.(REUTERS FILE PHOTO)
Naresh Goyal, Chairman of Jet Airways.(REUTERS FILE PHOTO)
Updated on Feb 26, 2019 08:27 PM IST
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New Delhi | By Press Trust of India

Why debt-hit Jet Airways is selling majority stake for Re 1

A group of lenders led by State Bank of India has proposed taking a 50.1 percent stake for 1 rupee through the issuance of 114 million new shares, a maneuver that’s allowed under a framework outlined by the Reserve Bank of India last year.
It’s part of a bailout plan by its state-owned lenders that will give the airline time to arrange fresh equity.
It’s part of a bailout plan by its state-owned lenders that will give the airline time to arrange fresh equity.
Updated on Feb 20, 2019 03:32 PM IST
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Bloomberg | By Anurag Kotoky

Jet Airways likely to get over Rs 3,000 crore funds

While the final contours of debt-restructuring and consequent changes are being worked out, an analyst said that Etihad Airways should come as the main driver for Jet Airways as lenders and shareholders would not be able to bring in much value addition.
Jet Airways likely to get over Rs 3,000 crore funds.(REUTERS)
Jet Airways likely to get over Rs 3,000 crore funds.(REUTERS)
Updated on Feb 17, 2019 06:29 PM IST
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New Delhi | By Press Trust of India

Indebted Jet Airways poised to get Rs 6 billion emergency loan

The fund infusion would come as a lifeline for the ailing airline that has defaulted on interest payments, delayed salaries and grounded multiple aircraft in its struggle to stay afloat.
Jet Airways India Ltd., the beleaguered carrier that’s in the midst of bailout talks with its partner and lenders, is set to get an emergency loan of as much as 6 billion rupees.(REUTERS)
Jet Airways India Ltd., the beleaguered carrier that’s in the midst of bailout talks with its partner and lenders, is set to get an emergency loan of as much as 6 billion rupees.(REUTERS)
Updated on Feb 14, 2019 05:15 PM IST
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Bloomberg | By Saloni Shukla and P R Sanjai

Jet Airways accepts Etihad bailout plan, chairman Naresh Goyal may resign: Report

Both Jet Airways and Etihad Airways are set to sign a memorandum of understanding (MoU) within days, which would result in Jet Airways’ founder and chairman Naresh Goyal reducing his stake to 22 percent from 51 percent and stepping down from the board, the report said, citing sources.
Jet Airways founder chairman Naresh Goyal is expected to step down from the board of directors(REUTERS)
Jet Airways founder chairman Naresh Goyal is expected to step down from the board of directors(REUTERS)
Updated on Feb 01, 2019 12:46 PM IST
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Reuters | By Reuters

India’s Jet Airways seeks investor approval to swap debt for shares

Jet Airways, Etihad and lenders have been in talks for weeks to work out a revival plan, although no commonly agreed proposal was presented to the government, a ministry official said January 25 in New Delhi.
Jet Airways India Ltd. is seeking the approval of shareholders to convert loans into equity as the ailing carrier saddled with $1.1 billion of debt negotiates a rescue deal with its lenders and partner Etihad Airways PJSC.(Reuters File Photo)
Jet Airways India Ltd. is seeking the approval of shareholders to convert loans into equity as the ailing carrier saddled with $1.1 billion of debt negotiates a rescue deal with its lenders and partner Etihad Airways PJSC.(Reuters File Photo)
Updated on Jan 28, 2019 03:05 PM IST
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Bloomberg | By Anurag Kotoky

Ready to pledge shares, infuse Rs 700 crore: Jet Airways chairman Naresh Goyal to SBI

Goyal’s offer comes against the backdrop of strategic partner Etihad reportedly putting forward strict conditions, including that Goyal should give up control, for infusing funds into the crisis-hit carrier.
Naresh Goyal, Chairman of Jet Airways speaks during a news conference in Mumbai.(REUTERS)
Naresh Goyal, Chairman of Jet Airways speaks during a news conference in Mumbai.(REUTERS)
Updated on Jan 17, 2019 01:34 PM IST
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New Delhi | By Press Trust of India

UAE’s Etihad reaches deal for rescue of cash-strapped Jet Airways, say reports

The deal, if it goes through, will give the third-biggest Mideast carrier more say over Jet’s operations and its day-to-day management, with Naresh Goyal’s voting rights capped at 10 percent, BTVI said. Indian regulations cap airline ownership by foreign operators at 49 percent, and also prohibit them from taking control.
Etihad Airways PJSC has agreed to lead a rescue of cash-strapped Jet Airways India Ltd. in a move that will see the Abu Dhabi-based carrier double its stake to 49 percent, according to television reports(Reuters File Photo)
Etihad Airways PJSC has agreed to lead a rescue of cash-strapped Jet Airways India Ltd. in a move that will see the Abu Dhabi-based carrier double its stake to 49 percent, according to television reports(Reuters File Photo)
Updated on Jan 14, 2019 06:50 PM IST
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Bloomberg | By Anurag Kotoky
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Tuesday, October 26, 2021