- By Shivam Shandilya
- Sat, 02 Sep 2023 07:22 AM (IST)
- Source:JND
Naresh Goyal Arrested: The Enforcement Directorate (ED) arrested Jet Airways founder Naresh Goyal in a money laundering case on Friday night. The case is linked to an alleged bank fraud of Rs 538 crore at Canara Bank, PTI reported, quoting sources. Goyal was taken into custody under the Prevention of Money Laundering Act (PMLA) following a long session of questioning at the central agency's office in Mumbai. He is likely to be produced before the PMLA court on Saturday.
Enforcement Directorate (ED) has arrested Naresh Goyal, the founder of Jet Airways, after his day-long questioning at the agency's office in Mumbai for allegedly defrauding a bank of Rs 538 crores. He will be produced before the Bombay PMLA court tomorrow. The case is based on an… pic.twitter.com/AjLdWixcl2
— ANI (@ANI) September 1, 2023
According to PTI, the bank alleged that the forensic audit of JIL showed that it paid "related companies" Rs 1,410.41 crore out of a total commission expense, thus siphoning off funds from JIL.
"As per sample Agreement of Jet Airways (India) Ltd (JIL), it was noted that the expenses of General Selling Agents (GSA) was to be borne by GSA itself and nor by JIL. However, it was observed that JIL has paid various expenses amounting to Rs 403.27 crore which is not in tune with the GSA," the complaint now part of the CBI FIR alleged, as quoted by news agency PTI.
It said that the personal expenses such as salaries of staff, phone bills and vehicle expenses among others were paid by JIL. Among other allegations, it surfaced during the forensic audit that funds were also siphoned off through Jet Lite (India) Ltd ( JLL) by way of making advance and investing and subsequently writing off of the same by making provision.
(With input from agencies)