Jet Airways founder Naresh Goyal sent to judicial custody after ED custody ends

MUMBAI: After the conclusion of his Enforcement Directorate (ED) custody, Jet Airways founder Naresh Goyal faced further legal proceedings as he was presented before a Special Prevention of Money Laundering Act (PMLA) Court today. The court ordered that Naresh Goyal be remanded to judicial custody for a period of 14 days.

Goyal's legal team had filed an application in the court, citing concerns about his wife's health condition. His wife is currently battling cancer, and Goyal sought permission to communicate with her via telephone. The court considered this request, ultimately deciding to send him to Arthur Road Jail. However, the court did grant some concessions on humanitarian grounds.

During his incarceration, Goyal will be permitted to receive home-cooked food, essential medicines, clothing, and even the use of pillows and mattresses based on medical requirements. Naresh Goyal's legal troubles began when he was arrested on September 1, 2023, on charges related to a Canara Bank fraud case involving an alleged sum of Rs 538 crores.

This arrest followed an FIR filed by the Central Bureau of Investigation (CBI) earlier in May, which implicated not only Goyal but also his wife Anita Naresh Goyal, Gaurang Ananda Shetty, and unknown public servants and private individuals. The FIR highlighted a series of alleged offenses, including cheating, criminal conspiracy, criminal breach of trust, and criminal misconduct, leading to wrongful losses amounting to Rs 538.62 crores for Canara Bank.

A forensic audit conducted on the accounts of Jet Airways (India) Ltd. had revealed irregularities, including the diversion and siphoning of funds. This latest development in the legal saga surrounding Naresh Goyal has captured significant attention, as the aviation tycoon now faces a stint in judicial custody. His legal team continues to contend with the charges levied against him as the case unfolds.