A special PMLA court here on Saturday remanded Jet Airways founder Naresh Goyal to Enforcement Directorate (ED) custody till September 11 in connection with a case of bank fraud of Rs 538 crore and money-laundering.
Arrested after hours of interrogation late on Friday night, Goyal is accused of allegedly diverting around Rs 9.50 crore from a public sector bank (Canara Bank) loan to clear off his private loans and commissions.
Goyal (74) was produced before a special PMLA court on Saturday afternoon, where the ED said that his daughter Namrata Goyal’s production house also got money from Jet Airways accounts to pay salaries and other commitments.
On Friday, the ED swooped had on Goyal, picked him up for questioning and late in the night placed him under arrest for alleged money-laundering linked to a Canara Bank loan fraud case of Rs 538 crore between 2011 and 2019.
The money-laundering case arose from a Central Bureau of Investigation (CBI) FIR filed against Goyal, his wife Anita, and others in connection with the alleged fraud perpetrated with Canara Bank.
In May, the Canara Bank had complained that it had given loans and credit limits to Goyal’s Jet Airways worth Rs 849 crore, of which over Rs 538 crore was outstanding, and then declared a fraud in July 2021.
The investigations also revealed that private and personal expenses of the Goyal family and staff salaries were paid through the airline accounts, and funds were siphoned off through Jet Lite by Jet Airways Ltd through loans, advances and investments.
The ED plans to quiz Goyal on his companies abroad where the siphoned funds were allegedly transferred and parked, besides getting details of his other assets and investments at foreign locations.
It may be recalled that the once-powerful Jet Airways, which virtually ruled the skies for nearly 25 years, was finally grounded in April 2019 owing to financial problems and heavy losses.
Dr. Manmohan Singh, legendary economist and former PM, passes away
Former Prime Minister Dr. Manmohan Singh, renowned economist and architect of India’s economic reforms, passed away on Thursday at the age of 92. He was admitted to the All India Institute of Medical Sciences (AIIMS) here following a deterioration in his health.
DoNER Ministry approves 86 projects worth Rs 1,970.54 crore for NE in 2024: Official
The Union Ministry of Development of North Eastern Region (DoNER) has approved 86 projects worth Rs 1,970.54 crore for the eight northeastern states in 2024, officials said on Thursday.
VC funding drops 22.5 pc in China in Jan-Nov as India sees surge
As venture capital (VC) funding surged in India this year, China saw a 22.5 per cent decline in VC funding by both volume and value in the January-November period, a report showed on Thursday.
Their sacrifice shining example of valour, commitment to one’s values: PM Modi's tribute to Sahibzades
Prime Minister Narendra Modi, on Wednesday, paid tributes to Sahibzades on the occasion of Veer Baal Diwas and prayed that they always "guide us towards building a more just and compassionate society".
Netanyahu warns Houthis as Israel reportedly mulls new airstrike
Israeli Prime Minister Benjamin Netanyahu warned that Houthi forces in Yemen would face consequences similar to those experienced by other anti-Israel groups.
Andhra CM Naidu meets PM Modi, seeks special financial assistance
Andhra Pradesh Chief Minister N. Chandrababu Naidu met Prime Minister Narendra Modi and some Central ministers including Amit Shah and Nirmala Sitharaman in Delhi on Wednesday, seeking special financial assistance from the Centre.
IMD and TU signs MoU for indigenous lightning detection system development
In a significant step towards enhancing India's capabilities in weather monitoring and research, a Memorandum of Understanding (MoU) was signed between the India Meteorological Department (IMD) and the Department of Physics, Tripura University.
Tripura Chief Minister hails Officers for promoting transparency in governance
Chief Minister Prof. Dr. Manik Saha today said that officers in the state government are playing a key role in making the administration corruption-free which is an example of Good Governance.