New Delhi: A Mumbai Court on Saturday sent the Jet Airways founder Naresh Goyal to the Enforcement Directorate (ED) custody for 14 days, till September 11 in connection to the money laundering case.
“Jet Airways chairman has been remanded to the custody of the ED by the PMLA (Prevention of Money Laundering Act) court until September 11. This development comes in connection with a money laundering case, for which the ED had requested 14 days of custody,” officials said.
Naresh was arrested under the PMLA in a case related to a bank fraud of Rs 538 crore. This arrest took place late on Friday night. The Central Bureau of Investigation (CBI) had previously filed an FIR against him, his wife Anita, and other individuals.
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The FIR was filed based on a complaint from Canara Bank, which alleged that it had sanctioned credit limits and loans amounting to Rs 848.86 crore to Jet Airways (India) Ltd, with an outstanding amount of Rs 538.62 crore. It was further alleged that Jet Airways (India) Ltd had diverted these funds to its subsidiaries.
ED officials conducted lengthy questioning of Naresh Goyal at their Mumbai office on Friday and expressed concerns that he was not cooperating with the investigation. Goyal was brought from Delhi to the ED office in Mumbai for questioning before being placed under arrest.
The ED initiated its investigation based on a case filed by the CBI on May 3. This case was filed following a complaint made by Canara Bank. Jet Airways (India) Ltd had a long-standing business relationship with Canara Bank since 2005, and all financial exposures were managed within the State Bank of India (SBI)-led consortium arrangements.
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In connection with the money laundering case involving the former promoter of Jet Airways and his associates, the ED conducted raids in several cities, including Delhi and Mumbai, earlier in the week.
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