Mumbai: A Mumbai court has forwarded Jet Airways founder Naresh Goyal to Enforcement Directorate’s custody till September 11. The court’s order followed the arrest of the businessman in a case of fraud to the tune of ₹538 crore from the Canara Bank.
Goyal was taken into custody on Friday under the Prevention of Money Laundering Act (PMLA) following a long session of questioning at the central agency’s office. The CBI registered an FIR against the Jet Airways chairman, his wife and others in an alleged bank fraud of ₹538 crore on Friday.
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Goyal, 74, is expected to be produced before a special PMLA court in Mumbai on Saturday where the ED will seek for his custodial remand.
“ED custody is till September 11…We have taken an order from the Bombay HC that everyone should be given the opportunity on the basis of what SC has said. In our case also we have been given the opportunity to that extent, there is a stay till September 11…” said his advocate Ameet Naik.
“Forensic Audit conducted in the accounts of Jet Airways (India) Ltd revealed fraudulent features like diversion and siphoning of funds,” read the CBI FIR.
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The enforcement directorate had last week carried out multi-city raids in connection with the money laundering case pertaining to the former promoter of Jet Airways and his associates.
In the court, the Canara Bank contended that it had sanctioned credit limits and loans to Jet Airways (India) Limited to the tune of ₹848.86 crore, of which ₹538.62 crore is outstanding. It also claimed that JIL had diverted funds to its subsidiaries.
“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 ₹538.62 crores to Canara Bank. Forensic Audit conducted in the accounts of Jet Airways (India) Ltd revealed fraudulent features like diversion and siphoning of funds,” the FIR read.
