homelegal NewsEnforcement Directorate files money laundering case against Jet Airways founder Naresh Goyal
Enforcement Directorate files money laundering case against Jet Airways founder Naresh Goyal
According to ED, Naresh Goyal and others allegedly misused loans which they borrowed from various banks and diverted it to foreign countries
The Enforcement Directorate (ED) has filed a case against Naresh Goyal, the founder of the now-defunct Jet Airways. A case of alleged money laundering has also been filed against the company.
Goyal was at the Enforcement Directorate's office in Mumbai for questioning. This is the second time that Naresh Goyal has been called for questioning by the ED, in Jet Airways case. Yesterday, his residence in Mumbai was raided by the investigators and he was questioned for about 4 hours, reports CNBC-TV18's Yash Jain.
ED so far has been investigating into Jet Airways but that was under Foreign Exchange Management Act (FEMA) violations. New instances have been found and now the investigations have taken a new turn, where it is being investigated under Prevention of Money Laundering Act (PMLA).
The premise of the investigation is that it all started in August 2019, ED has been probing diversion of funds essentially out of the loans which were taken by Jet Airways in the period of about a decade.
According to ED, Naresh Goyal and others allegedly misused loans which they borrowed from various banks and diverted it to foreign countries. The amount in question is about Rs 9000 crore. The allegation is that about 20-30 percent of the amount was diverted illegally into foreign countries.
First Published: Mar 5, 2020 6:24 PM IST
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