The remand hearing for Jet airways' founder Naresh Goyal took an unexpected turn on Monday when Goyal began recounting his experiences while in the custody of the Enforcement Directorate (ED).
Addressing the court, he became emotional, stating, "I don't know what I don't know. I have nothing more to share with the agency. I am in severe pain and unable to bear it. My body won't cooperate."
While Naresh Goyal broke down in court, he requested permission to be admitted to a private hospital. The court responded that such matters would be considered if his remand is extended.
Goyal's legal team also requested certain privileges, including access to his doctor, a bed or mattress, and daily meetings with his lawyers and family members. In response, the Public Prosecutor stated that basic needs could be provided but couldn't cater to specific requests.
Advocate Amit Desai, representing Naresh Goyal, refuted the Enforcement Directorate's claims of non-cooperation. Desai informed the court that his client had already provided all necessary data, documents, and bank details to the agency, having appeared before the ED on nine occasions.
He argued, "A significant loan was taken on Jet Airways' balance sheet, which was used to acquire Sahara. This loan appears on the balance sheet but isn't fraudulent. His arrest late at night raises questions about the allegations of loan misuse. The funds were used to pay staff salaries, not for personal gain. There's no money laundering involved here. These allegations create an impression but may not hold in court. The process seemed more about recovering loans than PMLA (Prevention of Money Laundering Act). He didn't take a single loan for himself or his family. His inability to answer questions about daily operations stems from a lack of knowledge, not non-cooperation."
The Public Prosecutor insisted that Naresh Goyal should disclose the names and details of foreign entities involved in the money transfers.
Naresh Goyal was arrested by the ED on September 1 on money laundering charges and was in ED custody until Monday. The ED presented him in court seeking a four-day extension, with the Special PMLA court in Mumbai scheduled to make a decision at 5 pm on Monday.\
Jet Airways grounded its operations in April, 2019, following a cash crunch. Seventy-four-year-old Goyal later stepped down as the chairperson of the airline.
The money laundering case was initiated by an FIR filed by the Central Bureau of Investigation (CBI) against Jet Airways, Goyal, his wife Anita and a few former company executives in connection with the alleged Rs 538 crore fraud case at the Canara Bank.
The raids were carried out by ED in July at premises linked to Naresh Goyal and others who were allegedly involved in the case.
First Published: Sept 11, 2023 2:36 PM IST
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