Naresh Goyal Arrested: The Impact on Jet Airways’ Legacy
Naresh Goyal, the founder of Jet Airways, was arrested on September 1, 2023, by the Enforcement Directorate (ED) for the alleged laundering of Rs 538 crore. The case is related to the loan fraud at Canara Bank. The ED has registered the case against Goyal under the Prevention of Money Laundering Act (PMLA). The case was based on the complaint filed by Canara Bank alleging that Jet Airways had defaulted on a loan of Rs 538 crore.
- The goyal was arrested after the ED questioned him, and he will be produced before the court in Mumbai on Saturday.
- Naresh Goyal has been accused many times of financial irregularities. In 2019, the Central Bureau of Investigation registered a case against him and another for alleged fraud and money laundering in connection with the collapse of Jet Airways.
- Goyal has denied all allegations against him, and he stated that he was targeted because of his political affiliations.
- The Jet Airways airline has been grounded since April 2019, and the arrest of Goyal is a major setback for Jet Airways, which is currently undergoing bank corruption proceedings.
- The arrest of Naresh Goyal will affect the revival of Jet Airways and the ED allegations that Goyal and the others diverted funds from Jet Airways to their own personal accounts and companies.
The ED officers seized several incriminating documents, including financial records and property documents, during their searches at the Goyal Premises. Goyal is facing charges under the PMLA for a serious economic offense, and he will face up to 7 years in jail if convicted.
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