• Source:ANI
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Jet Airways: The Enforcement Directorate has attached properties worth Rs 538.05 crore in an alleged money laundering case linked to Jet Airways (India) Ltd. The properties attached by ED include 17 residential flats, bungalows and commercial premises in the name of various companies and persons.

"The attached properties include 17 residential flats/bungalows and commercial premises in the name of various companies and persons viz. Jetair Private Limited, Jet Enterprises Private Limited, founder Chairman of Jet Airways (India) Limited (JIL) Naresh Goyal, his wife Anita Goyal and son Nivaan Goyal situated in London, Dubai and various States of India," ED said in a statement, according to news agency ANI.

ALSO READ: Jet Airways Founder Naresh Goyal Arrested By ED: Who Is He And What Is The Bank Fraud Case All About

In its release, the ED revealed that JIL siphoned off the loans granted by a consortium of banks led by SBI and PNB. The agency also accused Goyal of diverting the funds.

Jet Airways Founder Naresh Goyal was arrested by ED in September. (Image credit: Reuters)

"Naresh Goyal implemented a massive financial fraud in which the funds of JIL were systematically diverted in the garb of irrational & inflated General Sales Agent (GSA) commissions, large unexplained payouts to various professionals and consultants, by granting of loans to JetLite Limited (100% subsidiary to acquire Air Sahara), and subsequently writing off the loans by making provisions in the balance sheets," the official statement stated.

ED Arrests Naresh Goyal

The 74-year-old Naresh Goyal was arrested by the ED on September 1 and the agency filed a charge sheet against him on Tuesday before a special Prevention of Money Laundering Act (PMLA) court in Mumbai.

"ED arrested Naresh Goyal on 1.9.2023 and he is presently in Judicial Custody. ED has filed a prosecution complaint before the Special Court (PMLA) on 31.10.2023. Further investigation is under progress," the agency said.

(With Inputs From Agencies)