Late on Friday night, the Enforcement Agency arrested Jet Airways founder Naresh Goyal in connection with money laundering in connection with Canara Bank, official sources said. In connection with alleged bank fraud of Rs 5.38 billion. He was detained under the Prevention of Money Laundering Act (PMLA) after a lengthy interrogation at the central agency’s office.
Goyal, 74, is expected to appear before the PMLA Special Court in Mumbai on Saturday, where the ED will seek his remand in custody.
The money laundering case arose out of an FIR initiated by the Central Bureau of Investigation (CBI) against Jet Airways, Goyal, his wife Anita and some former company executives in relation to Canara Bank’s alleged Rs 5.38 crore fraud. .
The FIR has registered in the bank’s complaint alleging that Rs 8,488.6 crore was sanctioned against Jet Airways (India) Ltd (JIL) for credit lines and loans, of which Rs 538.62 crore was outstanding.
The CBI had said the account was declared “fraudulent” on July 29, 2021.
The bank claimed that JIL’s forensic audit revealed that it paid Rs 1,410.41 crore out of the total commission to “related companies”, thereby siphoning money from JIL.
“Based on the sample agreement of Jet Airways (India) Limited (JIL), the costs of the General Sales Agent (GSA) were borne by GSA itself and not by JIL. However, it was observed that JIL paid a total of Rs. This fee is inconsistent with the GSA.” The complaint is now part of the CBI FIR.
The Goyal family’s staff salaries, personal expenses such as telephone bills and vehicle expenses were allegedly paid by JIL.
Among other allegations, it was also found during the forensic audit that funds were also siphoned through Jet Lite (India) Limited (JLL) through advances, investments and subsequently through write-offs. JIL transfers funds for its subsidiary Jones Lang LaSalle in the form of loans, advances and investments.