India

Jet Airways Founder Naresh Goyal Placed In ED Custody Until September 11 Amid Bank Fraud Allegations

Naresh Goyal, the founder of Jet Airways, finds himself in legal trouble as he has been remanded in the custody of the Enforcement Directorate (ED) until September 11th. This decision comes in light of an alleged fraud case amounting to ₹538 crore, based on a complaint filed by Canara Bank.

The 74-year-old Goyal was apprehended by the Central agency late on Friday, invoking the Prevention of Money Laundering Act (PMLA). His arrest followed an extensive interrogation at the ED office. Subsequently, he was presented before the court on Saturday.

The roots of this money laundering case can be traced back to a First Information Report (FIR) initiated by the Central Bureau of Investigation (CBI). The FIR targets Jet Airways, Naresh Goyal himself, his wife Anita, and several former executives associated with the now-defunct airline.

Canara Bank’s complaint forms the basis of the FIR, alleging that it had approved substantial credit limits and loans amounting to ₹848.86 crore. Shockingly, ₹538.62 crore of this sum remains outstanding, with accusations that Jet Airways had diverted these funds to its subsidiaries.

The case continues to unfold as legal proceedings progress.

Also Read: Uttar Pradesh BJP MLA Calls For Dedicated Law To Protect Religious Texts

Malika Sahni

Recent Posts

Modi Government Introduce Waqf Amendment Bill In Parliament: A Numbers Game

The second phase of budget session is underway in Parliament, and amidst ongoing protests, the…

6 mins ago

How Your Skin Changes When You Stop Eating Sugar For 30 Days

Cutting sugar from your diet for 30 days can lead to noticeable improvements in your…

14 mins ago

Waqf (Amendment) Bill Will Benefit Muslims, Says All India Muslim Jamaat Chief

On Wednesday, All India Muslim Jamaat chief Maulana Shahabuddin Razvi affirmed the Waqf (Amendment) Bill…

54 mins ago

Waqf (Amendment) Bill 2024: Key Highlights And What It Means For Waqf Properties And Social Welfare

The Union government announced on Tuesday that it will introduce the Waqf Bill in the…

1 hour ago

Waqf Bill Sparks Political Storm In Parliament; Kiren Rijiju Leads The Debate

The Lok Sabha set an eight-hour Waqf Bill debate as the opposition slammed the rush.…

2 hours ago

Delhi High Court Rejects Accused’s Argument in Rape Case; Upholds FIR

Delhi High Court stated that an accused in a rape case cannot charge by arguing…

2 hours ago