Enough material against Naresh Goyal to process money laundering case: Court
1 year, 1 month ago

Enough material against Naresh Goyal to process money laundering case: Court

India Today  

A special court in Mumbai said on Friday that there was sufficient material to "prima facie establish the involvement" of Jet Airways founder Naresh Goyal and his wife in a money laundering case linked to an alleged bank fraud of Rs 538 crore. "The materials accompanying the Prosecution Complaint prima facie indicate how the proceeds of crime were generated through criminal activity related to the Scheduled Offense, which is the first qualification for initiating the process against the accused individuals," said the court. The court observed that bank statements prima facie indicate that Canara Bank had extended a loan of Rs 848.86 Crore to Jet Airways India Limited, out of which Rs. The court concluded that prima facie, the action of recording an Enforcement Case Information Report and conducting an investigation under the PML Act is justified due to the existence of the Scheduled Offense and the generation of POC resulting from the criminal activity involved.

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