Naresh goyal is on Bail !
Mumbai, 30: Naresh Goyal, the former director of Jet Airways, has applied for bail at the Bombay High Court. His wife is suffering from cancer.As a result, Naresh Goyal has petitioned the High Court for permission to remain with her and take care of her. The ED has received a notice from the court regarding the plea.
In the Canara Bank Fraud Case, Goyal is Arrested
Goyal has been accused of defrauding Canara Bank of Rs 538 crore. The Enforcement Department (ED) had detained Naresh Goyal on September 1 last year in the bank fraud case. Considering her advanced age and state of health, Anita Goyal, his wife, was released on bail after her arrest in November of last year.
Let’s understand the whole matter in three easy steps
A credit limit and loan of ₹848.86 crore were granted to Jet Airways; of this amount, ₹538.62 crore is still outstanding. On July 29, 2021, this account was reported fraud.
The CBI searched Goyal’s office and seven other locations in Mumbai on May 5. The homes of former Jet Airways director Gaurang Shetty, his wife Anita, and Naresh Goyal were also searched.
Based on the CBI’s FIR, the ED opened a money laundering case on July 19. Following this, the ED raided the homes of Goyal and his associates.
The bank’s claim of money laundering
Canara Bank claimed in Jet Airways’ full investigation that Jet had transferred ₹1,410.41 crore to affiliated businesses. This was done in order to take money out of the business’s account.
Since April 2019, Jet Airways has been discontinued.
Formerly, Jet Airways held the title of being the biggest private airline in both India and South Asia. However, on April 17, 2019, Jet Airways ceased operations due to the weight of debt.
The Jalan-Kalrock Consortium prevailed in the National Company Law Tribunal (NCLT) bid process for Jet Airways in June 2021. Jet has not yet started operating again, but the process of revitalizing the airline has continued since then.
