Monday, August 20, 2018

MCA probes Jet Airways on suspicion of siphoning funds: Sources

Fresh trouble is around the corner for Naresh Goyal-owned Jet Airways, currently undergoing acute financial stress, as the Ministry of Corporate Affairs (MCA) has opened a preliminary inquiry into the carrier on suspicion it siphoned off funds.

A senior official confirmed to Moneycontrol that the Mumbai Registrar of Companies (RoC) will inspect Jet’s books of accounts.

Jet Airways has been dogged by financial stress, and recently wrote to employees seeking a cut in salaries. The company put the blame of its distress on rising costs due to high crude oil prices among others.
20/08/18 Tarun Sharma/moneycontrol

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