‘Jet has received money only through normal channels’

New Delhi: Jet Airways has not received any remittance other than through the normal banking channels, an investigation carried out by the Income Tax Department shows, the Minister of State for Finance, Mr S.S. Palanimanickam, informed the Lok Sabha on Friday.
Allegations about the airline receiving dubious funding first emerged in the mid-1990s.
A case was also filed in the US alleging that a fugitive from law had used the hawala route to plough money into the airlines’ public issue.
The Directorate of Enforcement is, however, conducting enquiries under the Foreign Exchange Management Act, 1999, the Minister informed Parliament in a written reply.
23/11/07 Business Line

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Categories: Jet Airways Nov 2007