Saturday, September 02, 2023

Naresh Goyal used funds borrowed by Jet Airways to buy furniture, jewellery, for personal enrichment: ED tells court

Mumbai: The money borrowed by Jet Airways was misused by its founder Naresh Goyal for “personal gains and enrichment”, the Enforcement Directorate (ED) on Saturday told a court here while seeking his custody in a case of an alleged Rs 538 crore loan fraud, registered on a complaint filed by Canara Bank.

The special Prevention of Money Laundering Act (PMLA) court sent 74-year-old Goyal in the ED's custody till September 11.

Seeking his remand, the ED claimed that the loans taken by now-defunct Jet Airways (India) Limited (JIL) from Canara Bank were used for purchasing things such as furniture, apparel and jewellery besides other illegitimate purposes. 

02/09/2023 PTI

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