New Delhi: Trouble seems to be mounting for former chairman of Jet Airways Naresh Goyal as the Enforcement Directorate (ED) has detected foreign bank accounts allegedly linked to him with huge amounts.
Naresh Goyal, his long-time associate Hasmukh Gardi's residential premises located in Mumbai and Delhi were searched by the ED on Friday. "The search resulted in the seizure of various incriminating documents and digital evidences," said the ED.
According to the probe agency, the investigation indicates that Naresh Goyal is likely to be the beneficial owner of some bank accounts abroad having huge deposits. Prima facie these transactions involve various violations under FEMA.
ED's investigation under FEMA is based on complaints and intelligence inputs received from various sources. The business empire of Naresh Goyal, erstwhile chairman of Jet Airways, includes 19 privately held companies of which 14 companies are registered in India and 5 companies are registered outside the country.
The agency further claims that, "Naresh Goyal also indirectly controls various entities abroad some of which are in tax havens. Preliminary investigations done so far indicate that Naresh Goyal has structured various tax evading schemes involving its domestic companies and the companies in foreign tax jurisdiction thereby siphoning off huge amount in foreign jurisdictions through dubious and fictitious transactions."
24/08/19 Munish Chandra Pandey/India Today
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Naresh Goyal, his long-time associate Hasmukh Gardi's residential premises located in Mumbai and Delhi were searched by the ED on Friday. "The search resulted in the seizure of various incriminating documents and digital evidences," said the ED.
According to the probe agency, the investigation indicates that Naresh Goyal is likely to be the beneficial owner of some bank accounts abroad having huge deposits. Prima facie these transactions involve various violations under FEMA.
ED's investigation under FEMA is based on complaints and intelligence inputs received from various sources. The business empire of Naresh Goyal, erstwhile chairman of Jet Airways, includes 19 privately held companies of which 14 companies are registered in India and 5 companies are registered outside the country.
The agency further claims that, "Naresh Goyal also indirectly controls various entities abroad some of which are in tax havens. Preliminary investigations done so far indicate that Naresh Goyal has structured various tax evading schemes involving its domestic companies and the companies in foreign tax jurisdiction thereby siphoning off huge amount in foreign jurisdictions through dubious and fictitious transactions."
24/08/19 Munish Chandra Pandey/India Today
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