The former Jet promoter, Naresh Goyal, arrested by ED, reserved for washing | India News
The agency has been investigating Jet and Goyal under the Currency Exchange Management Act (Fema) and was considering filing a money laundering case. The ED, which is investigating Jet’s financial agreements for the past 12 years, has questioned Goyal more than a dozen times in the Fema case. He has also questioned his wife and son a couple of times. He is investigating suspicious transactions involving 19 private companies – 14 registered in India and five abroad – associated with Goyal.
“Naresh Goyal allegedly linked to companies in tax havens”
According to sources, Jet Airways founder Naresh Goyal also allegedly indirectly controls other companies in tax havens. The airline on the ground had allegedly diverted most of the loan of 8,000 million rupees guaranteed from banks abroad by inflating payments and through fictitious transactions, authorities said. Jet lenders, led by SBI, have initiated bankruptcy proceedings against the airline before the National Court of Corporate Law.
Recently, Mumbai police had registered a case of fraud against Goyal in a complaint filed by a travel agency.