Bombay High Court Grants Interim Bail to Jet Airways Founder Naresh Goyal on Medical Grounds

The Bombay High Court has granted interim bail to Naresh Goyal, the founder of Jet Airways, in a the most recent development. Goyal was arrested by the Enforcement Directorate (ED) in connection with a money laundering case. The bail that is issued for a period of two months is based on medical grounds.

The high court’s ruling mandates Goyal to furnish a surety of Rs 1 lakh and abide by strict conditions. He has been instructed to remain within the jurisdiction of the PMLA Court in Greater Mumbai and seek prior permission from the court before leaving the area. Additionally, Goyal is required to provide his contact details and mobile number and refrain from tampering with prosecution evidence or communicating with co-accused or witnesses involved in similar activities.

Justice N J Jamadar, presiding over a single bench, emphasized that Goyal, aged 75, and his wife Anita Goyal, are both battling cancer. The court recognized the necessity for Goyal to access medical treatment for his condition and attend to his ailing wife.

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“The applicant has roots in society, and the possibility of fleeing or tampering with evidence appears remote. Stringent conditions can address any concerns regarding tampering with evidence or evading justice,” the court stated in its order.

Goyal had been in judicial custody since his arrest by the ED on September 1, 2023. The ED had filed a prosecution complaint before the Special Court (PMLA) in Mumbai on October 31, 2023, pertaining to the case.

In a related development last year, the ED provisionally attached properties valued at Rs 538.05 crore belonging to Jet Airways (India) Limited (JIL) under the provisions of the Prevention of Money Laundering Act, 2002 (PMLA). These properties, including residential flats, bungalows, and commercial premises located in London, Dubai, and various Indian cities, were registered under various companies and individuals, including Naresh Goyal, his wife Anita, and son Nivaan.

The complaint filed by the ED alleged multiple offenses, including cheating, criminal conspiracy, criminal breach of trust, and criminal misconduct, committed by JIL and its promoters and directors, resulting in a substantial Non-Performing Asset (NPA) amounting to Rs 538.62 crore.