Naresh Goyal, the founder of Jet Airways, was held in the custody of the Enforcement Directorate (ED) here on Saturday in connection with an alleged fraud case involving Rs 538 crore that was brought by Canara Bank.
After a protracted period of interrogation at its office here, the Central agency on Friday night detained Goyal (74) in accordance with the Prevention of Money Laundering Act (PMLA). On Saturday, he was brought before the court.
The Central Bureau of Investigation (CBI) filed a First Information Report against Jet Airways, Goyal, his wife Anita, and a few former airline officials, leading to the money laundering case.
According to the bank’s complaint, it approved credit limits and loans totaling Rs 848.86 crore for Jet Airways (India) Ltd, of which Rs 538.62 crore is still unpaid. It claimed that JIL routed money to its subsidiaries.
