India: Jet Airways Founder Naresh Goyal's Custody In Fraud Case Extended

9/12/2023 9:17:31 AM

(MENAFN- Khaleej Times) A special PMLA (Prevention of Money Laundering Act) Court in Mumbai on Monday extended till September 14 the ED custody of Jet Airways founder Naresh Goyal.

The Jet Airways founder was produced before the Special PMLA Court in Mumbai earlier on Monday morning after his Enforcement Directorate (ED) custody ended. Goyal was arrested on September 1 for allegedly defrauding Canara bank of Rs5,380 million. On September 2, Goyal was sent to 10 days of ED custody by a special PMLA court.

"ED has arrested Naresh Goyal, ex-Chairman of Jet Airways (I) Ltd. on 1.09.2023 under the provisions of PMLA, 2002 in Rs 538 Crore Canara bank fraud case. He was produced before the Hon'ble PMLA Special Court, Mumbai, and the Hon'ble Court has granted ED custody for 10 days," the ED posted in a message on 'X'.

Goyal was arrested based on an FIR registered by the Central Bureau of Investigation (CBI) earlier in May this year. Goyal, his wife Anita Naresh Goyal, Gaurang Ananda Shetty and unknown Public Servant(s) and Private Person(s) were named as accused in the FIR.

"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 Rs 538.62 crores to Canara Bank," the FIR read.

"Forensic Audit conducted in the accounts of Jet Airways (India) Ltd revealed fraudulent features like diversion and siphoning of funds," it further read.

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