ED attaches Rs 538 crore worth of assets in Jet Airways money laundering casetext_fields
New Delhi: The Enforcement Directorate (ED) has provisionally attached properties valued at Rs 538.05 crore as part of its investigation into an alleged money laundering case involving Jet Airways (India) Ltd.
In an official statement, the ED outlined that the attached properties encompass 17 residential flats, bungalows, and commercial premises registered under various names, including Jet Airways founder Naresh Goyal, his wife Anita Goyal, his son Nivaan Goyal, Jetair Private Limited, and Jet Enterprises Private Limited.
These properties are located in London, Dubai, and various states in India.
This development occurred a day after the ED submitted its prosecution complaint (chargesheet) against Naresh Goyal, who had been arrested in September, for his alleged involvement in money laundering related to a loan granted to the airline.
The ED's case is based on an FIR filed by the CBI in May, following a complaint by Canara Bank in November 2022.
Canara Bank alleged that the loan provided to Jet Airways for operational purposes had been diverted for personal expenses. The bank's claim was founded on a forensic audit conducted by an external audit firm, covering the period from 2011 to 2019.
Although the Canara Bank loan was classified as a non-performing asset (NPA) in 2019, the ED asserts that the loan amount totaling Rs 538 crore represents the proceeds of a criminal activity that was diverted and misappropriated. A consortium of banks had extended loans to Jet Airways (India) Ltd for its operational activities.