On Wednesday, ED seized assets worth Rs 538 crore from him and his family members in the money laundering case. The troubles of Jet Airways founder Naresh Goyal are increasing.
New Delhi: The Enforcement Directorate (ED) has booked Jet Airways India Limited (JIL) under 538 FIRs in the money laundering case probed against Jet Airways founder Naresh Goyal, his family and others Assets worth crores have been temporarily seized. The ED had arrested Naresh Goyal two months ago in a money laundering case where he allegedly defrauded Canara Bank of a loan worth Rs 538 crore and was taken into custody.
On Tuesday, the ED had filed a charge sheet naming Goyal, his wife and others in the case. During the investigation, the ED found that JIL had financed a consortium of banks led by SBI, including Canara Bank and PNB Took out a loan from. The attached properties include 17 residential flats-bungalows and commercial premises in the names of various companies and individuals. Some of the seized properties are located in London, Dubai and various states in India in the names of JIL founder Naresh Goyal, his wife Anita Goyal and son Nivan Goyal. Let us tell you that Jet Airways founder Naresh Goyal was arrested by ED in the Canara Bank fraud case of Rs 538 crore.
Naresh Goyal committed fraud on a large scale
ED investigation revealed that GSA commission was wrongly paid to Jet Air Private Limited (JIL’s GSA for India), and Jet Airways LLC Dubai (JIL’s global GSA)And JIL was wrongly paid for the operating expenses of these GSAs. All these GSAs were beneficially owned by Naresh Goyal. Therefore, the management of JIL followed Naresh Goyal’s lead, and despite the fact that these entities were not performing any significant services after 2009, Continued to pay large sums on a regular basis. The funds received were again used by Naresh Goyal and his family for their personal expenses and investments.
Naresh Goyal perpetrated a massive financial fraud in which JIL funds were siphoned off under the guise of unreasonable and inflated General Sales Agent (GSA) commissions, Large unexplained payments to various professionals and consultants were systematically transferred by granting loans to Jetlite Limited (100%).subsidiary to acquire Air Sahara), and subsequently wrote off the loans by making provisions in the balance sheet.
