Money Laundering Case Against Jet Airways Founder and Wife Takes Significant Step

Money Laundering Case Against Jet Airways Founder and Wife Takes Significant Step

VoM News Desk | November 4, 2023 | 09:06 AM IST | Crime | Follow on Google News

Money Laundering Case Against Jet Airways Founder and Wife Takes Significant Step

Money Laundering Case Against Jet Airways Founder and Wife Takes Significant Step

Cognizance of Chargesheet in Canara Bank Fraud Case

A special court has taken cognizance of the Enforcement Directorate’s chargesheet, asserting that there is sufficient material to prima facie indicate the involvement of Jet Airways founder, Naresh Goyal, and his wife, Anita, in a money laundering case linked to an alleged fraud of Rs 538 crore at Canara Bank. The court has also issued summons to the accused, requiring their presence on November 9.

Accused Parties and Firms Named

The central probe agency, Enforcement Directorate (ED), has identified four companies – Jet Airways (India) Ltd (JIL), Jetair Pvt Ltd, Jet Enterprises Pvt Ltd, and Jet Airways LLC, Dubai – as accused parties in the case. This development follows the arrest of Mr. Goyal on September 1 under the Prevention of Money Laundering Act (PMLA), after a comprehensive interrogation at the ED’s office. Currently, the 74-year-old businessman is in judicial custody, lodged at the Arthur Road Jail in central Mumbai.

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Fraud Allegations and Proceeds of Crime

The money laundering case originated from an FIR filed by the Central Bureau of Investigation (CBI) against Jet Airways, Naresh Goyal, Anita Goyal, and several former executives of the now-defunct private airline. The allegations center around an alleged Rs 538-crore fraud at the state-run Canara Bank. The court’s order took note of the allegations outlined in the chargesheet, statements recorded under the PMLA, and bank statements. Prima facie, it indicates that Canara Bank’s branch at Bandra-Kurla Complex (BKC) in suburban Mumbai extended a loan of Rs 848.86 crore to JIL, of which Rs 538.62 crore remains outstanding.

Material Supporting Charges

The court deemed that the material presented in the prosecution complaint, including documents and statements recorded under the PMLA, provides substantial evidence of diversion and siphoning off funds by the accused. The involvement of Naresh Goyal, Anita Goyal, and their associated companies is evident from these materials, and it is sufficient to hold them accountable for the alleged offense.

The case highlights the intricate financial trail and the efforts to project tainted money as untainted. This development allows the Enforcement Directorate to initiate further legal proceedings against the accused individuals under the PMLA.

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VoM News Desk

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