Thursday, March 05, 2020

Jet Founder Naresh Goyal's Home Raided In Alleged Money Laundering Case

New Delhi: The Enforcement Directorate raided the Mumbai residence of Naresh Goyal, founder of the now-grounded Jet Airways, late Wednesday night in connection with an alleged money laundering probe initiated by the agency.
The central agency, taking cognisance of a FIR filed by a travel company that has accused Mr Goyal and his wife, Anita Goyal, of cheating it of Rs 46 crore, has registered a ECIR against the Goyals and Jet Airways.

The probe agency, which is also probing alleged foreign exchange violations by Naresh Goyal and Jet Airways, recorded Mr Goyal's statement under a section of the Prevention of Money Laundering Act (PMLA).
In September last year Mr Goyal was questioned by Enforcement Directorate officials for over eight hours after a preliminary inquiry, launched in early 2019, alleged provisions of the Foreign Exchange Management Act (FEMA) were violated after Abu Dhabi's Etihad Airways invested $150 million for a stake in Jet, a loyalty and rewards management company formed in 2012 as a subsidiary.
Mr Goyal's role in the deal is believed to be the main focus of that ED investigation.
It is important to note that FEMA offences are not criminal in nature, unlike those under PMLA.
05/03/20 Arvind Gunasekar/NDTV
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