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Jet Airways founder Naresh Goyal taken to Mumbai court as his ED custody ends today


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Image Source : PTI Jet Airways founder Naresh Goyal was produced before a court by the Enforcement Directorate in Mumbai

Jet Airways founder Naresh Goyal was taken to the Special PMLA Court in Mumbai after his Enforcement Directorate (ED) custody ended on Monday. He was taken to court by the ED officials in an alleged case of fraud of Rs 538 crores. Earlier this month, he was sent to ED custody till September 11. 

Seeking his remand, the ED claimed that the loans taken by now-defunct Jet Airways (India) Limited (JIL) from Canara Bank were used for purchasing things such as furniture, apparel and jewellery besides other illegitimate purposes. JIL’s funds were also used to pay the salaries of his residential staff and meet the operational expenses of a production company owned by his daughter, the ED said.

Goyal was arrested by ED


74-year-old Goyal was arrested by the ED based on an FIR registered by the Central Bureau of Investigation (CBI) earlier in May this year. Jet Airways (India) Limited, Naresh Goyal, his wife Anita Naresh Goyal, Gaurang Ananda Shetty and unknown Public Servant(s) and Private Person(s) were named as accused in the FIR.

“CGM of Canara Bank, Recovery & Legal Section in Mumbai, has submitted regarding alleged offences of cheating, criminal conspiracy, criminal breach of trust and criminal misconduct committed by M/s Jet Airways (India) Ltd., Naresh Jagdishrai Goyal, Anita Naresh Goyal, Gaurang Ananda Shetty and unknown public servants and others causing wrongful loss of Rs 538.62 crores to Canara Bank,” the FIR read.

Case against Jet Airways founder 

It should be mentioned here that Goyal was arrested by the Central agency on September 1 under the PMLA following a long session of questioning at its office in Mumbai. He was produced before the court the following day. The FIR was registered on Canara Bank’s complaint alleging that it sanctioned credit limits and loans to Jet Airways (India) Ltd to the tune of Rs 848.86 crore, of which Rs 538.62 crore were outstanding. 

(With inputs from agencies) 

ALSO READ: ED arrests Jet Airways founder Naresh Goyal in money laundering case

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