Tuesday, December 5th, 2023

Jet Airways’ Naresh Goyal’s troubles increase, ED registers new case, raids eight locations

New Delhi: The difficulties of Naresh Goyal, who was the promoter of the closed airline Jet Airways, have increased. ED has registered a fresh money laundering case against Naresh Goyal and others. Raids are going on at his/her eight locations in Mumbai and Delhi. The CBI is already probing against him/her. The CBI today raided seven premises of Naresh Goyal in May. The agency had taken this action in connection with an alleged bank fraud of Rs 538 crore. The agency then raided the residence and office of Goyal, his/her wife Anita Goyal and former airline director Gaurang Anand Shetty in Mumbai. Anita Goyal and several others are accused in the case. The agency has registered a fresh case on the complaint of Canara Bank. This is linked to misappropriation of Rs 538 crore. In February, the Bombay High Court quashed the money laundering case against Naresh Goyal and his/her wife. This case was registered by ED. But the court had also said that if a new case comes up, the ED can investigate it. ED has registered this case on the basis of CBI’s FIR.

The CBI has accused Jet Airways and its founders of misappropriation of funds. According to the agency, between April 1, 2011 and June 30, 2019, it had spent Rs 1,152.62 crore as professional and consultancy expenses. Transactions worth Rs 197.57 crore of companies linked to Jet airline are under suspicion. Many officers of the company were also involved in this. Investigation found that out of Rs 1152.62 crore, the company paid Rs 420.43 crore as professional and consultancy expenses to companies which had nothing to do with such service.

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Sanjeev Kapoor, the designated CEO of Jet Airways, resigns, the airline has not flown for 1 year

revival process

Jet Airline, once the country’s largest private airline, shut down its operations in April 2019 due to huge debt and cash crunch. A consortium of UAE businessman Murari Lal Jalan and London-based company Kalrock Capital bought Jet Airline in June 2021 in the insolvency process. After this, the process of revival of this company is going on. Multiple agencies are probing the Jet Airways affairs. These include ED, CBI, Income Tax and SFIO.

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