An Indian court on Saturday decided that Jet Airways (JET.NS) founder Naresh Goyal will remain in India's financial crime agency's custody until Sept. 11, the agency said in a press statement.
The Enforcement Directorate (ED), which investigates financial crimes in India, arrested Goyal late on Friday.
Jet Airways did not immediately respond to a request for comment. Goyal hasn't commented publicly on the case in the past.
The case relates to an alleged 5.38 billion Indian rupees ($65.06 million) bank fraud case filed by state lender Canara Bank (CNBK.NS). The losses to a consortium of nine lenders is much larger, at 59.6 billion Indian rupees ($720.78 million), ED said.
The bank had filed a complaint in May against the airline, Goyal, his wife and a former airline director for "causing wrongful loss" to the lender.
02/09/2023 Reuters
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