Naresh Goyal was taken into custody below the Prevention of Cash Laundering Act (PMLA)
New Delhi:
Jet Airways founder Naresh Goyal has been arrested by the Enforcement Directorate (ED) in an alleged Rs 538 crore cash laundering case linked to Canara Financial institution, sources mentioned.
Mr Goyal was taken into custody below the Prevention of Cash Laundering Act (PMLA), following an extended session of questioning on the ED’s workplace in Mumbai.
Mr Goyal, 74, can be produced earlier than a particular PMLA court docket in Mumbai on Saturday, the place the ED will search his custodial remand.
The cash laundering case stems from a primary info report (FIR) of the Central Bureau of Investigation (CBI) towards Jet Airways, Mr Goyal, his spouse Anita and a few former firm executives in reference to an alleged Rs 538 crore fraud case at Canara Financial institution.
The FIR was filed on the financial institution’s criticism that alleged it sanctioned credit score limits and loans to Jet Airways (India) Ltd (JIL) to the tune of Rs 848.86 crore, of which Rs 538.62 crore is excellent.
The CBI had mentioned the account was declared “fraud” in July 2021. The financial institution alleged the forensic audit of JIL confirmed it paid “associated corporations” Rs 1,410.41 crore out of a complete fee bills, thus siphoning off funds from JIL.
The FIR mentioned private bills equivalent to salaries of workers, cellphone payments and automobile bills, amongst others, of the Goyal household had been paid by JIL.
It surfaced through the forensic audit that funds had been additionally siphoned off by means of Jet Lite (India) Ltd (JLL) by making advance and investing and subsequently writing off the identical by making provisions.
JIL allegedly diverted the funds for the subsidiary JLL within the type of loans and advances and investments prolonged.