ED raids ex-Jet Airways chairman Naresh Goyal's house, fresh money laundering case registered
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The Enforcement Directorate (ED) has raided the residence of former chairman of the now grounded Jet Airways, Naresh Goyal in a case of money laundering. On Wednesday, he was summoned by ED for interrogation at its office in Mumbai and later look him to his home at around 9 PM for searching.
A fresh case under the Prevention of Money Laundering Act (PMLA) has also been registered.
According to sources, the agency is probing alleged regularities committed by the airline, which includes diversion of funds.
It may be noted that the ED had registered a case of Foreign Exchange Management Act (FEMA) violations against Goyal and the airline last year. The agency carried out searches at more than a dozen of places in Mumbai and Delhi.
During the raids, the ED had recovered several incriminating documents related to the payments made to foreign companies.
The airline had halted operations in April 2019 due to an acute cash crunch. On March 25, Goyal, the then Jet Airways chairman, had stepped down.
Jet was facing a financial crisis due to bruising competition from low-cost airlines, fluctuating crude prices, and a weak rupee. The airline has over one billion dollars in debt and has to repay money to banks, lessors of planes and suppliers besides clearing pending salaries of its pilots and other staff.
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