The Federal Investigation Agency took Goyal (74) into custody late on Friday night after taking him from Delhi to his Mumbai office. A special court constituted to hear cases registered under the Anti-Money Laundering Act (PMLA) on Saturday sent him to ED custody for 10 days till September 11.
The agency issued a statement claiming that Goyal’s group – Jet Airways (India) Ltd or JIL – had collected Rs. 5,951.46 crore in total non-performing assets (NPAs) and the largest share (1,636.23 crore) in a consortium of nine banks (Rs. ) of State Bank of India (SBI).
The ED investigation found that “under the guise of professional and consultancy, dubious expenses of Rs 1,000 crore were recorded; personal expenses of Naresh Goyal and his family members were recorded as company expenses and were unaccounted for.” The transaction was deposited. Promoter’s foreign accounts.
The ED alleged that JIL “routed” funds to foreign entities located in other ‘tax havens’ including Dubai, Ireland and the British Virgin Islands under the guise of common sales agents’ commissions, which were paid to related parties linked to Goyal and his associates. And institutions were made.
The agency said Goyal was summoned twice after the raids against him in July, but he did not appear. Jet Airways shut down its operations in April 2019 due to cash crunch. Later, Goyal resigned as the chairman of the airline.
In Canara Bank Rs. An ED case registered under criminal sections of the Anti-Money Laundering Act against Jet Airways, Goyal, his wife Anita and some former officials of the company in connection with the alleged fraud of Rs 538 crore. Central Bureau of Investigation (CBI). Based on the FIR lodged by the CBI.
The ED had raided Goyal, chartered accountants (CAs) and consultants to whom JIL had made ‘huge payments’ over the years. A CBI FIR was registered on the bank’s complaint alleging that it had sanctioned a credit limit and loan of Rs 848.86 crore to JIL, of which Rs 538.62 crore was outstanding. The CBI said the account was declared ‘fraud’ on July 29, 2021.
The bank alleged that a forensic audit of JIL had revealed that out of the total commission expenses, it had paid Rs. 1,410.41 crore was paid, thereby misappropriating the funds.
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