ED searches Jet Airways founder Naresh Goyal's premises in Delhi, Mumbai in connection with violation of FEMA
5 years, 4 months ago

ED searches Jet Airways founder Naresh Goyal's premises in Delhi, Mumbai in connection with violation of FEMA

Firstpost  

ED conducted searches at the premises of Jet Airways founder Naresh Goyal in connection with a case of an alleged contravention of the foreign exchange law The Enforcement Directorate conducted searches on Friday at the premises of Jet Airways founder Naresh Goyal in connection with a case of an alleged contravention of the foreign exchange law, officials said. Recently, the Centre extended the process of temporary allocation of slots and bilateral foreign flying rights of Jet Airways to other airlines till December. Consequently, the Centre decided to temporarily allocate the slots as well as the international flying rights of Jet Airways till September to other airlines, who could immediately launch new flight services and fill the supply gap. On Wednesday, the National Company Law Appellate Tribunal asked lenders of Jet Airways whether they would cooperate with the Dutch court administrator who is also pursuing insolvency proceedings against the debt-ridden carrier.

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History of this topic

Jet Airways founder seeks bail in bank fraud case, says ED allegations ‘false’
1 year, 1 month ago

Jet Airways founder seeks bail in bank fraud case, says ED allegations ‘false’

Live Mint  

Naresh Goyal, the founder of Jet Airways, filed a petition before a special court in Mumbai, requesting bail in the bank fraud case, citing multiple health issues. Naresh Goyal is an accused in an alleged fraud of ₹538 crore at state-run Canara Bank and has been in jail for nearly three months, on Friday moved an application before a special …

Jet founder Naresh Goyal denied personal doctor, home food inside prison
1 year, 3 months ago

Jet founder Naresh Goyal denied personal doctor, home food inside prison

Hindustan Times  

Mumbai: The special PMLA court on Monday rejected the Jet Airways founder Naresh Goyal’s applications, seeking daily medical checkups by his personal doctor and home-cooked food inside the prison. Mumbai, India - 20 Mar, 2020: Former Jet Airways Chairman Naresh Goyal alongwith wife Anita Goyal at ED office regarding Jet Airways case, in Mumbai, India, on Friday, 20 Mar, 2020. …

₹538-crore loan fraud case: Jet Airways founder Naresh Goyal sent to Arthur Road jail
1 year, 3 months ago

₹538-crore loan fraud case: Jet Airways founder Naresh Goyal sent to Arthur Road jail

Hindustan Times  

MUMBAI: The special PMLA court on Thursday remanded Naresh Goyal, founder of the grounded airline Jet Airways, in judicial custody for 14 days after which the 74-year-old was shifted to Arthur Road jail. Goyal was arrested by the Enforcement Directorate late in the night on September 1 in connection with a case registered against Jet Airways, Goyal and others for …

Jet Airways’ Naresh Goyal sent to 14-day judicial custody in bank fraud case
1 year, 3 months ago

Jet Airways’ Naresh Goyal sent to 14-day judicial custody in bank fraud case

Live Mint  

Jet Airways founder Naresh Goyal on Thursday sent to 14-day judicial custody in a ₹538 bank fraud case, news agency PTI reported. 'NARESH GOYAL CASE' Naresh Goyal, 78, has been arrested in an alleged ₹538 crore bank fraud case, siphoning off funds from India to overseas by creating various trusts and using them to buy properties. The money laundering case …

Naresh Goyal sent to 14-day judicial custody in bank fraud case
1 year, 3 months ago

Naresh Goyal sent to 14-day judicial custody in bank fraud case

The Hindu  

A court here on Thursday, September 14, 2023 remanded Jet Airways founder Naresh Goyal to 14-day judicial custody in a money laundering case linked to an alleged fraud of ₹538 crore at the Canara Bank. The Enforcement Directorate arrested Goyal on September 1 under the Prevention of Money Laundering Act following a long session of questioning at the central agency's …

Naresh Goyal taken to Mumbai’s Special PMLA Court as ED custody ends today
1 year, 3 months ago

Naresh Goyal taken to Mumbai’s Special PMLA Court as ED custody ends today

Live Mint  

The Enforcement Directorate officials took Jet Airways founder Naresh Goyal to the Special PMLA Court in Mumbai as his 10 days ED custody ended today i.e. On 3 September, Goyal was sent to 10 days of Enforcement Directorate custody by a special PMLA court till 11 September. In a post on X, Ed wrote, "ED has arrested Naresh Goyal, ex-Chairman …

Jet Airways founder Naresh Goyal remanded to ED custody till Sept 11 over Rs 538 crore fraud case
1 year, 4 months ago

Jet Airways founder Naresh Goyal remanded to ED custody till Sept 11 over Rs 538 crore fraud case

Firstpost  

Jet Airways founder Naresh Goyal was arrested on Friday in a money-laundering case linked to an alleged bank fraud of Rs 538 crore at Canara Bank. A special court under the Prevention of Money Laundering Act in Mumbai has extended the Enforcement Directorate’s custody of former Jet Airways promoter Naresh Goyal until September 11. The money laundering case stems from …

Naresh Goyal arrested: Who is this Jet Airways founder in ED custody?
1 year, 4 months ago

Naresh Goyal arrested: Who is this Jet Airways founder in ED custody?

Hindustan Times  

The Enforcement Directorate on Friday arrested Jet Airways founder and former chairman Naresh Goyal in a money laundering case associated with an alleged fraud of ₹538 crore at Canara Bank. The ED had carried out raids against Goyal and others involved in the bank fraud case in July this year after Central Bureau of Investigation launched FIR against Jet Airways …

ED arrests Jet Airways founder Naresh Goyal in bank fraud case
1 year, 4 months ago

ED arrests Jet Airways founder Naresh Goyal in bank fraud case

Deccan Chronicle  

Mumbai: The Enforcement Directorate late Friday night arrested Jet Airways founder Naresh Goyal in a money laundering case linked to an alleged bank fraud of Rs 538 crore at the Canara Bank, official sources said. The money laundering case stems from an FIR of the Central Bureau of Investigation against Jet Airways, Goyal, his wife Anita and some former company …

Morning Digest | India’s first solar observatory mission Aditya-L1 launches today; ED arrests Jet Airways founder Naresh Goyal in bank fraud case, and more
1 year, 4 months ago

Morning Digest | India’s first solar observatory mission Aditya-L1 launches today; ED arrests Jet Airways founder Naresh Goyal in bank fraud case, and more

The Hindu  

India’s first solar observatory mission Aditya-L1 to be launched at 11.50 a.m. today India’s first solar observatory mission, named Aditya-L1, will be launched onboard the Polar Satellite Launch Vehicle from the Satish Dhawan Space Centre in Sriharikota at 11.50 am on Saturday. rattled by INDIA alliance; thus exploring ‘one nation one poll’ Opposition parties on Friday said the coming together …

ED arrests Jet Airways founder Naresh Goyal in bank fraud case
1 year, 4 months ago

ED arrests Jet Airways founder Naresh Goyal in bank fraud case

Hindustan Times  

The Enforcement Directorate on Friday arrested Naresh Goyal, founder of the grounded private airline, Jet Airways, after questioning him for several hours as part of its money-laundering investigation related to an alleged bank fraud of around ₹538.62 crore. The case, registered under sections of the Indian Penal Code and Prevention of Corruption Act, related to the alleged offences of cheating, …

ED arrests Jet Airways founder Naresh Goyal in bank fraud case
1 year, 4 months ago

ED arrests Jet Airways founder Naresh Goyal in bank fraud case

The Hindu  

The Enforcement Directorate on September 1 arrested Jet Airways Limited’s founder chairman Naresh Jagdishrai Goyal, in connection with an alleged loan fraud involving about ₹538.62 crore of the Canara Bank. As alleged, the company was initially sanctioned a working capital limit of ₹126 crore and inland letter of credit/financial bank guarantee limit of ₹100 crore for different purposes. As alleged, …

Jet Airways founder Naresh Goyal arrested by ED in alleged money laundering case
1 year, 4 months ago

Jet Airways founder Naresh Goyal arrested by ED in alleged money laundering case

Hindustan Times  

The Enforcement Directorate on Friday night arrested Jet Airways founder Naresh Goyal in a money laundering case linked to an alleged bank fraud of ₹538 crore at the Canara Bank. File photo of Jet Airways’ founder Naresh Goyal. Earlier on July 20, the ED conducted raids on Goyal, and his associates after the Central Bureau of Investigation registered an FIR …

Jet Airways Founder Naresh Goyal Arrested in Rs 538 Crore Bank Fraud Case
1 year, 4 months ago

Jet Airways Founder Naresh Goyal Arrested in Rs 538 Crore Bank Fraud Case

News 18  

The Enforcement Directorate on Friday arrested Jet Airways founder Naresh Goyal in the alleged Rs 538 crore Canara Bank fraud case, officials said. The was filed FIR on the basis of the Canara Bank’s complaint, alleging that it had sanctioned credit limits and loans to Jet Airways Limited of Rs 848.86 crore, of which an amount of Rs 538.62 crore …

Probe agency ED conducts raids on Jet Airways founder over money laundering case
1 year, 5 months ago

Probe agency ED conducts raids on Jet Airways founder over money laundering case

India Today  

The Enforcement Directorate on Wednesday conducted searches at around eight locations in Mumbai and Delhi in connection with a money laundering case, worth Rs 538 crore. The case was registered against Jet Airways founder Naresh Goyal and others. Apart from Naresh Goyal's premises, places related to his close friend Rajesh Chaturvedi, who is an auditor and advisor were also searched …

CBI searches Jet Airways office, residence of Naresh Goyal in bank fraud case
1 year, 8 months ago

CBI searches Jet Airways office, residence of Naresh Goyal in bank fraud case

Hindustan Times  

MUMBAI: The Central Bureau of Investigation on Friday conducted searches at seven locations, including the premises of Jet Airways and its founder Naresh Goyal in the city, in connection with an alleged ₹538-crore bank fraud. Read here: CBI conducts search at Jet Airways office in alleged bank fraud case The searches were conducted after the CBI on Wednesday registered a …

CBI raids Jet Airways office, residence of founder Naresh Goyal in bank fraud case
1 year, 8 months ago

CBI raids Jet Airways office, residence of founder Naresh Goyal in bank fraud case

India TV News  

Mumbai: The Central Bureau of Investigation on Friday carried out searches at seven locations linked to Jet Airways in Mumbai in connection with a Rs 538 crore bank fraud case, officials said. The raids were conducted at the residences and offices of Jet Airways founder Naresh Goyal, his wife Anita Goyal and former company director Gaurang Anand Shetty. The probe …

Jet Airways founder Naresh Goyal, wife get relief from ED action till Jan 31
1 year, 11 months ago

Jet Airways founder Naresh Goyal, wife get relief from ED action till Jan 31

India Today  

The Bombay High Court has granted interim relief to Jet Airways founder Naresh Goyal and his wife, Anita Goyal, in connection with a money laundering case registered against them by the Enforcement Directorate. Justice Revati Mohite Dere and Justice PK Chavan granted them interim relief while hearing a plea filed by the Goyals seeking to quash the Enforcement Case Information …

Jet Airways takes to the skies after three years: What’s in store for the once-bankrupt airline?
2 years, 8 months ago

Jet Airways takes to the skies after three years: What’s in store for the once-bankrupt airline?

Firstpost  

Jet Airways has already hired over 200 people across major operations, including former SpiceJet and Vistara executive Sanjiv Kapoor as its CEO. The airline plans to start operations in the September quarter of this year A Jet Airways test flight took to the skies on Thursday from Hyderabad Airport for the first time after a hiatus of three years. The …

Former Jet Airways chairman Naresh Goyal grilled by ED
5 years, 3 months ago

Former Jet Airways chairman Naresh Goyal grilled by ED

India Today  

A day after his wife was grilled by the Enforcement Directorate officials, Naresh Goyal, former chairman of the grounded airline Jet Airways was also questioned at the Mumbai office of the agency on Thursday. Naresh Goyal arrived at the Ballard Estate office of ED at around 10:30 am and was questioned by the ED official till 6:30 pm on Thursday. …

Jet Airways Chairman Naresh Goyal's wife Anita questioned for 8 hours by ED
5 years, 3 months ago

Jet Airways Chairman Naresh Goyal's wife Anita questioned for 8 hours by ED

India Today  

The Enforcement Directorate probing diversion of funds from loans borrowed by Jet Airways in the period of over a decade on Wednesday questioned Anita Goyal, wife of former chairman of Jet Airways Naresh Goyal for eight hours. Most of the premises belonged to the Goyals and Jet Airways but some of them also belonged to friends and close associates of …

Enforcement Directorate questions Jet Airways founder Naresh Goyal in foreign exchange violation case
5 years, 4 months ago

Enforcement Directorate questions Jet Airways founder Naresh Goyal in foreign exchange violation case

Firstpost  

The Enforcement Directorate questioned Jet Airways founder Naresh Goyal on Friday in a case of an alleged contravention of the foreign exchange law, officials said The Enforcement Directorate questioned Jet Airways founder Naresh Goyal on Friday in a case of an alleged contravention of the foreign exchange law, officials said. Goyal’s statement has been recorded under the Foreign Exchange Management …

Jet Airways founder Naresh Goyal questioned by Enforcement Directorate
5 years, 4 months ago

Jet Airways founder Naresh Goyal questioned by Enforcement Directorate

India TV News  

Jet Airways founder Naresh Goyal is being questioned by the ED here on Friday in a case of an alleged contravention of the foreign exchange law, officials said. Goyal's statement has been recorded under the Foreign Exchange Management Act at the agency's zonal office here, they said. A dozen premises, including Goyal's Mumbai residence, his group companies, their directors and …

ED raids Jet Airways founder Naresh Goyal's premises in Delhi, Mumbai
5 years, 4 months ago

ED raids Jet Airways founder Naresh Goyal's premises in Delhi, Mumbai

India TV News  

In more trouble for former Jet Airways Chairman Naresh Goyal, the Enforcement Directorate on Friday carried out searches at his residence in Mumbai and Delhi in connection with a case of alleged contravention of the foreign exchange law. About a dozen premises in Mumbai and Delhi, including Goyal's residence in Maharashtra's capital, are being searched, they said. According to news …

Jet Airways crisis: Govt orders SFIO probe into alleged mismanagement of funds, summons Naresh Goyal for questioning
5 years, 6 months ago

Jet Airways crisis: Govt orders SFIO probe into alleged mismanagement of funds, summons Naresh Goyal for questioning

Firstpost  

The SFIO order refers to alleged siphoning of funds and unspecified financial irregularities at Jet Airways New Delhi: The government has ordered an investigation on Thursday into alleged mismanagement of funds at Jet Airways, which halted operations in April after running out of cash. The order refers to alleged siphoning of funds and unspecified financial irregularities at Jet Airways, which …

Jet Airways crisis: Lenders to meet today to finalise resolution for debt-laden airline; shares plunge over 18%
5 years, 6 months ago

Jet Airways crisis: Lenders to meet today to finalise resolution for debt-laden airline; shares plunge over 18%

Firstpost  

Last week, the I-T Department summoned Naresh Goyal, the founder of Jet Airways, for questioning in connection with an alleged tax evasion case. Last week, the Income Tax Department had summoned Naresh Goyal, the founder of Jet Airways, for questioning in connection with an alleged tax evasion case, reported Business Today. Meanwhile, the shares of Jet Airways continued the downward …

Jet Airways lands in deeper trouble as creditors file plea for recovery of dues
5 years, 7 months ago

Jet Airways lands in deeper trouble as creditors file plea for recovery of dues

India Today  

Beleaguered airline Jet Airways has now landed at the NCLT. If the court accepts the plea, it could mark the end of the road for Jet Airways. The airline has a debt pile of over Rs 11,000 crore and all the investors who expressed the desire to invest in the airline have asked the banks to take a substantial haircut …

Ex-Jet Airways chairman Naresh Goyal, wife stopped at Mumbai Airport from travelling abroad
5 years, 7 months ago

Ex-Jet Airways chairman Naresh Goyal, wife stopped at Mumbai Airport from travelling abroad

India Today  

Former Jet Airways Chairman Naresh Goyal and his wife were stopped from leaving the country at Mumbai airport on Saturday by the immigration department. An immigration officer of Mumbai airport authority said, "Naresh Goyal and wife Anita Goyal travelling to London on EK 507 were restricted from leaving the country. Jet Airways is currently sitting on a massive debt of …

Crisis-hit Jet airways may find its saving grace this week
5 years, 7 months ago

Crisis-hit Jet airways may find its saving grace this week

India Today  

Crisis-hit airline Jet Airways could find its saving grace this week as Indian conglomerate Hinduja Group is expected to place a bid for the airline, backed by minority shareholder Etihad Airways and founder Naresh Goyal. The Hinduja Group has fixed a meeting with Etihad Airways on May 23, where discussions will be held in order to revive the airline which …

More trouble for Jet Airways as investigative agencies line up to probe fund trail
5 years, 8 months ago

More trouble for Jet Airways as investigative agencies line up to probe fund trail

India Today  

The troubles for the debt-ridden Jet Airways are set to escalate with the investigative agencies starting new probe against the airline. Sources told India Today TV that Enforcement Directorate has issued summons to Jet Airways to understand the deal structure of Jet Privilege Private Ltd. ED's preliminary probe is to check whether the Etihad's investment in JPPL had all the …

Naresh Goyal opts out from bidding for Jet Airways as debt-laden airline's management proposes to halt all operations
5 years, 8 months ago

Naresh Goyal opts out from bidding for Jet Airways as debt-laden airline's management proposes to halt all operations

Firstpost  

Airline sources said Naresh Goyal, who had stepped down as chairman of the carrier last month, has withdrawn the bid for the airline. Jet Airways founder Naresh Goyal has decided not to bid for acquiring stake in the cash-strapped airline, sources said on Tuesday. Meanwhile, the management of Jet Airways has proposed to suspend all operations of the debt-laden airline …

Naresh Goyal opts out of Jet Airways bidding process
5 years, 8 months ago

Naresh Goyal opts out of Jet Airways bidding process

Live Mint  

Mumbai: Jet Airways founder Naresh Goyal has decided not to bid for acquiring stake in the cash-strapped airline, people aware of the development said Tuesday. Goyal was planning a bid for Jet Airways at least as early as January, a Mint report said Tuesday, citing regulatory documents show. SBI Capital Markets, which has the mandate for Jet Airways stake sale …

Naresh Goyal first planned to bid for Jet Airways in January
5 years, 8 months ago

Naresh Goyal first planned to bid for Jet Airways in January

Live Mint  

Mumbai: Jet Airways Ltd founder Naresh Goyal, who was forced out of the troubled airline’s board in March following defaults on payments to banks and aircraft lessors, was planning a bid for the carrier at least as early as January, regulatory documents show. Ltd, a Goyal-owned company that is a general sales agent to Jet Airways, agreed to provide the …

Forced to step down, Naresh Goyal now returns to put in bid for cash-strapped Jet Airways
5 years, 8 months ago

Forced to step down, Naresh Goyal now returns to put in bid for cash-strapped Jet Airways

Firstpost  

Last month, Goyal and his wife Anita Goyal stepped down from the board of the airline, which has more than Rs 8,000 crore debt. Mumbai: Jet Airways founder Naresh Goyal has put in bid for buying stake in the ailing airline, sources said. Airline sources told PTI Goyal has put in bid for Jet Airways. Passengers stranded Meanwhile, the crisis …

Naresh Goyal said to put in bid for Jet Airways
5 years, 8 months ago

Naresh Goyal said to put in bid for Jet Airways

Live Mint  

Mumbai: Jet Airways Ltd founder Naresh Goyal has put in his bid for buying stake in the crisis-hit airline, said people aware of the development. Goyal quit as Jet Airways chairman in March under a bailout plan that saw lenders, led by State Bank of India, taking control of the airline. The ongoing Jet Airways crisis deepened Friday as the …

Naresh Goyal may bid for stake in Jet Airways
5 years, 8 months ago

Naresh Goyal may bid for stake in Jet Airways

Live Mint  

New Delhi: In a new twist to the Jet Airway saga, its erstwhile promoter Naresh Goyal is said to be planning to bid for the airline from which he had to step down as chairman last month only. Official sources said in the absence of strong interest from buyers, Goyal's possible bid could at least see some concrete movement with …

Jet Airways in a fix after founder Naresh Goyal quits: All we know so far
5 years, 9 months ago

Jet Airways in a fix after founder Naresh Goyal quits: All we know so far

India Today  

Jet Airways promoter and founder Naresh Goyal on Monday resigned from the company's board, giving up the chairmanship after more than 26 years. Naresh Goyal will also cease to be the chairman of the Company," a statement from the Jet Airways said. Soon after Naresh Goyal tendered his resignation, Jet Airways' stocks jumped over 17 per cent but settled nearly …

Naresh Goyal's personal ambition holds Jet Airways back from resurrection; is slow death awaiting India's once favoured airline?
5 years, 9 months ago

Naresh Goyal's personal ambition holds Jet Airways back from resurrection; is slow death awaiting India's once favoured airline?

Firstpost  

For Jet Airways, in their Silver Jubilee year, the airline is battling with what is their biggest existential crisis at the moment. That left customers scrambling, and even the staunchest of Jet Airways customers are now wondering if the airline will be around by the time it is their turn to fly the airline next. Qatar Airways, which has been …

Naresh Goyal agrees to step down as Jet chairman
5 years, 10 months ago

Naresh Goyal agrees to step down as Jet chairman

Live Mint  

Mumbai: Jet Airways Ltd’s founder Naresh Goyal has agreed to step down from the airline’s board as its chairman as part of a plan to secure a rescue deal for the cash-strapped company, a person familiar with the matter said. Etihad Airways, which owns a 24% stake in Jet Airways, is however still to agree on several proposals put forward …

Opinion | Jet Airways’ Naresh Goyal at a crossroads
5 years, 11 months ago

Opinion | Jet Airways’ Naresh Goyal at a crossroads

Live Mint  

With ballooning debt and rising costs, Jet Airways founder and promoter Naresh Goyal is left with few options and little time to save the airline. He can take up an investment offer from Etihad Airways, which owns 24% of Jet Airways, and relinquish control of the airline he started about 25 years ago. Alternatively, Goyal can rush to gather his …

Naresh Goyal refuses to cede control of Jet Airways
5 years, 11 months ago

Naresh Goyal refuses to cede control of Jet Airways

Live Mint  

Mumbai: The saga of Jet Airways Ltd continues, with its founder and promoter Naresh Goyal making a financial offer to State Bank of India to retain control of the ailing airline, even as its single-largest public shareholder, Etihad Airways PJSC, has sought to oust him in exchange for infusing much-needed funds. Goyal has told SBI, Jet Airways’ largest lender, that …

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