ED attaches properties worth ₹538 crore in PMLA case against Jet Airways’ Naresh Goyal, others

The Enforcement Directorate has attached assets worth ₹538 crore as part of its ongoing money laundering probe linked to Jet Airways. This includes more than a dozen residential flats, bungalows and commercial premises – located in London, Dubai and several Indian cities. A chargesheet was filed against Goyal earlier this week before a special PMLA court in Mumbai over the alleged bank loan fraud.

“The attached properties include 17 residential flats/bungalows and commercial premises in the name of various companies and persons viz. M/s Jetair Private Limited, M/s Jet Enterprises Private Limited, founder Chairman of M/s Jet Airways (India) Limited (JIL) Naresh Goyal, his wife Mrs Anita Goyal and son Nivaan Goyal situated in London, Dubai and various states of India,” the probe agency tweeted. 

Goyal was arrested by the ED on September 1 and remains in judicial custody. A chargesheet was filed against the 74-year-old businessman and five others on Tuesday in connection with the alleged fraud of ₹538 crore at Canara Bank.

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The money laundering case stems from a first information report by the Central Bureau of Investigation against Jet Airways, Goyal, his wife Anita and some former company executives of the now-grounded private airline. 

"JIL siphoned off the loans from a consortium of banks led by SBI and PNB, and Naresh Goyal implemented a massive financial fraud in which the funds of JIL were systematically diverted in the garb of irrational and inflated General Sales Agent (GSA) commissions, large unexplained payouts to various professionals and consultants, by granting of loans to JetLite Limited (100 per cent subsidiary to acquire Air Sahara), and subsequently writing off the loans by making provisions in the balance sheets," the agency had earlier alleged.

(With inputs from agencies)