ED attaches property valued at Rs 538 crore in Jet Airways case

2 Nov 2023 , 11:30 AM

The Enforcement Directorate said in a statement on Wednesday that it has attached property worth Rs 538 crore as part of its probe into money laundering accusations against insolvent carrier Jet Airways.

The ED issued a chargesheet against Jet Airways founder Naresh Goyal and five others. On September 1, the ED detained Goyal under the Prevention of Money Laundering Act (PMLA). Canara Bank claimed that loans provided for the airline were diverted for personal spending and the payment of personal liabilities.

According to the ED, the attached properties include 17 residential flats, bungalows, and commercial premises in the names of various companies and individuals, including M/s Jetair Private Limited, M/s Jet Enterprises Private Limited, Goyal, his wife Anita Goyal, and son Nivaan Goyal, located in London, Dubai, and various Indian states.

The ED launched an investigation based on a FIR registered by the CBI, BS&FB, Delhi, in response to a written complaint submitted by Canara Bank, Mumbai, alleging cheating, criminal conspiracy, criminal breach of trust, and criminal misconduct committed by M/s JIL and its promoters and directors, resulting in a massive NPA of Rs. 538.62 crore.

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