CBI searches 7 locations linked to Jet Airways founder Naresh Goyal in alleged bank fraud case
CBI officers said they have lodged a new case of ‘alleged bank fraud’ of Rs 538 crore on a complaint from Canara Bank
Updated May 05, 2023, 6:07 PM IST
The Central Bureau of Investigation on Friday conducted searches at seven locations in Mumbai linked to erstwhile promoters of Jet Airways (India) Ltd Naresh Goyal in connection with an alleged Rs 538-crore bank fraud case. Goyal’s wife Anita and others are accused in the case.
The CBI searches were conducted at private residences and offices of Goyal, his wife Anita, and former airline director Gaurang Ananda Shetty.
The agency officers said they have lodged a new case of “alleged bank fraud” of Rs 538 crore on a complaint from Canara Bank. The bank has accused Jet Airways of diversion of funds among other irregularities, the CBI officers said.
The FIR stated that a written complaint dated 23.11.2022, signed by P. Santosh, CGM, Canara Bank, Recovery & Legal Section, Circle Office, BKC, Mumbai, has been submitted regarding alleged offences of cheating, criminal conspiracy, criminal breach of trust and criminal misconduct committed by Jet Airways (India) Ltd., Naresh Jagdishrai Goyal, Anita Naresh Goyal, Gaurang Ananda Shetty and unknown public servants and others causing a wrongful loss of Rs 538.62 crore to Canara Bank.
On April 17, 2019, cash-strapped Jet Airways announced that it was temporarily shutting down its operations in India after it failed to secure emergency funding from any source, including lenders.
After flying for more than 25 years, the once-storied Jet Airways went into an insolvency resolution process and the Jalan Kalrock Consortium (JKC) emerged as the winning bidder.
In October 2020, the airline’s Committee of Creditors (CoC) approved the revival plan submitted by the consortium of Dubai-based Murari Lal Jalan and the UK’s Kalrock Capital. In June 2021, the consortium’s bid was approved under the insolvency resolution process.
The airline’s air operator certificate was revalidated by regulator DGCA in May 2022, following which the airline said it will recommence operations in September 2022, but the relaunch was delayed.
Published on: May 05, 2023, 5:04 PM IST