Published On: Wed, Nov 1st, 2023

ED attaches Jet Airways’ properties worth Rs 538 crore

Mumbai : The Directorate of Enforcement (ED) has seized Jet Airways’ properties worth more than Rs 538 crore as part of an ongoing money laundering investigation against the entity. The probe agency’s seizure, under the provisions of the Prevention of Money Laundering Act (PMLA) 2002, included several properties linked to Jet Airways founder Naresh Goyal, his son and his wife.

74-year-old Naresh Goyal was arrested by the ED in early September

Jet Airways, a full-service commercial carrier for nearly 26 years, ceased operations in April 2019 after financial difficulties and running out of cash. In 2019, Jet Airways filed for insolvency with the National Company Law Tribunal in June of that year, after Goyal had stepped down as the chairperson of the airline.

The properties, including 17 residential flats/bungalows and commercial premises located in London, Dubai, and various states of India, are registered under various companies and individuals linked to Jet Airways founder Naresh Goyal, his wife Anita Goyal, and son Nivaan Goyal.

74-year-old Naresh Goyal was arrested by the ED in early September in a case linked to bank fraud to the tune of Rs 538 crore at the Canara Bank. The ED has also alleged that properties were purchased abroad using the proceeds of the crime. Also, the probe agency on Tuesday filed a chargesheet against Jet Airways founder Naresh Goyal and five others in connection with the multi-crore fraud case.

The money laundering case against the Jet Airways founder stems from a First Information Report (FIR) of the Central Bureau of Investigation (CBI) against Goya, his wife Anita and some former company executives in connection with the alleged bank fraud case. In July, the ED carried out raids against Goyal and others named in the case.

The CBI FIR was lodged based on the concerned bank’s complaint alleging that it had sanctioned credit limits and loans to JIL to the tune of Rs 848.86 crore, out of which, Rs 538.62 crore was outstanding. The CBI also held that the account was declared “fraud” on July 29, 2021.

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

Social Media Auto Publish Powered By :