Mumbai:

A special court in Mumbai on Monday extended till September 14 the ED remand of Jet Airways founder Naresh Goyal, who has been arrested in a money laundering case linked to an alleged fraud of Rs 538 crore at Canara Bank.

Naresh Goyal was arrested by the Enforcement Directorate (ED) on September 1 under the Prevention of Money Laundering Act (PMLA) following a long session of questioning at the central agency’s office in Mumbai.

The 74-year-old businessman was produced before the special PMLA court at the end of his initial remand on Monday.

The central probe agency sought his custody for another four day for further investigation in the case.

The ED told the court that maximum money siphoned off has been stacked in foreign accounts and there is a person in the United Arab Emirates (UAE) to look after it.

Special judge for cases under PMLA, MG Deshpande, then extended Goyal’s custody till September 14.

The money laundering case stems from an FIR of the Central Bureau of Investigation (CBI) against Jet Airways, Goyal, his wife Anita and some former executives of the now grounded private airline in connection with an alleged Rs 538-crore fraud case at Canara Bank.

The FIR was registered on the government-run lender’s complaint which alleged that it sanctioned credit limits and loans to Jet Airways (India) Ltd to the tune of Rs 848.86 crore of which Rs 538.62 crore was outstanding.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

Mumbai:

Jet Airways founder Naresh Goyal has been sent to 10 days of Enforcement Directorate custody by a special PMLA court here. The ED had sought 14 days of custody from the court.

“ED has arrested Naresh Goyal, ex-Chairman of Jet Airways (I) Ltd. on 1.09.2023 under the provisions of PMLA, 2002 in Rs 538 Crore Canara bank fraud case. He was produced before the Hon’ble PMLA Special Court, Mumbai, and the Hon’ble Court has granted ED custody for 10 days,” the ED posted in a message on X.

In the PMLA court here on Saturday, Naresh Goyal’s lawyer pleaded that since Goyal is not keeping well and has back and spine problems, he should be allowed to have his medicines, a bed and home-cooked food while in ED custody to which the court obliged.

ED arrested Naresh Goyal for allegedly defrauding Canara Bank of Rs 538 crore based on an FIR registered by the Central Bureau of Investigation (CBI) earlier in May this year.

Jet Airways (India) Limited, Naresh Goyal, his wife Anita Naresh Goyal, Gaurang Ananda Shetty and unknown Public Servant(s) and Private Person(s) were named as accused in the FIR.

“CGM of Canara Bank, Recovery & Legal Section in Mumbai, has submitted regarding alleged offences of cheating, criminal conspiracy, criminal breach of trust and criminal misconduct committed by M/s Jet Airways (India) Ltd., Naresh Jagdishrai Goyal, Anita Naresh Goyal, Gaurang Ananda Shetty and unknown public servants and others causing wrongful loss of Rs 538.62 crores to Canara Bank,” the FIR read.

“Forensic Audit conducted in the accounts of Jet Airways (India) Ltd revealed fraudulent features like diversion and siphoning of funds,” it further read.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)