Jet Airways founder Naresh Goyal has been granted a 10-day custody by a special PMLA court, rather than the 14 days requested by the Enforcement Directorate (ED). Goyal was arrested by the ED on September 1, 2023, in connection with a Rs 538 crore Canara Bank fraud case under the provisions of the Prevention of Money Laundering Act (PMLA) of 2002.
The ED announced Goyal’s arrest and subsequent custody in a statement, noting that he had been produced before the Hon’ble PMLA Special Court in Mumbai, which approved the 10-day custody.
During the proceedings in the PMLA court, Goyal’s lawyer argued that his client was in poor health, suffering from back and spine issues. As a result, the lawyer requested that Goyal be allowed to have access to his prescribed medications, a proper bed, and home-cooked meals while in ED custody, and the court granted this request.
Goyal’s arrest stems from allegations that he was involved in defrauding Canara Bank of Rs 538 crore, based on an FIR filed by the Central Bureau of Investigation (CBI) in May of the same year. The FIR listed Jet Airways (India) Limited, Naresh Goyal, his wife Anita Naresh Goyal, Gaurang Ananda Shetty, and unnamed public servants and private individuals as accused parties.
The FIR outlined various charges, including cheating, criminal conspiracy, criminal breach of trust, and criminal misconduct, all leading to a wrongful loss of Rs 538.62 crores to Canara Bank. A forensic audit of Jet Airways’ accounts revealed fraudulent activities such as fund diversion and siphoning.
Naresh Goyal, the founder of Jet Airways, has been granted 10 days of custody by a special PMLA court following his arrest by the ED in connection with a Rs 538 crore Canara Bank fraud case. Goyal’s lawyer successfully requested certain accommodations due to his health condition during the court proceedings. The case revolves around allegations of fraudulent activities by Jet Airways and its key figures, causing substantial financial losses to Canara Bank.
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