Naresh Goyal’s ED Remand Extended in Money Laundering Case

Naresh Goyal's ED Remand Extended in Money Laundering Case

VoM News Desk | September 11, 2023 | 05:45 PM IST | Breaking News, Crime | Follow on Google News

Naresh Goyal’s ED Remand Extended in Money Laundering Case. Image/@mkwebdeveloper

Arrest and Money Laundering Case

A special court in Mumbai has extended the Enforcement Directorate (ED) remand of Jet Airways founder Naresh Goyal until September 14. Goyal was arrested on September 1 under the Prevention of Money Laundering Act (PMLA) in connection with an alleged fraud of Rs 538 crore at Canara Bank. The arrest followed a lengthy questioning session at the ED’s Mumbai office.

ED’s Request for Custody Extension

The ED requested another four days of custody for Goyal to conduct further investigations into the case. The agency informed the court that a significant portion of the siphoned-off money has been deposited in foreign accounts, with someone in the United Arab Emirates (UAE) overseeing these funds.

Case Background

The money laundering case is related to an FIR filed by the Central Bureau of Investigation (CBI) against Jet Airways, Naresh Goyal, his wife Anita, and former executives of the now-defunct airline. The FIR was based on a complaint from Canara Bank, alleging that the bank had sanctioned credit limits and loans amounting to Rs 848.86 crore to Jet Airways, of which Rs 538.62 crore remained outstanding.

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