Jet Airways Founder Naresh Goyal Approaches Bombay High Court Against ED Arrest In Rs. 538 Crore Money Laundering Case

A division bench of Justice Revati Mohite Dere and Justice Gauri Godse will hear the petition on September 20.

Goyal has challenged the arrest as well as the orders issued by the special court under the Prevention of Money Laundering Act (PMLA) remanding him to the custody of the ED and subsequently to judicial custody.

This case pertains to a complaint registered by Canara Bank in November last year with the Central Bureau of Investigation (CBI) alleging cheating, criminal conspiracy, criminal breach of trust and criminal misconduct by Goyal.

CBI registered an FIR in May this year based on the bank's complaint, which alleged that loans of over Rs. 848 crores had been extended to Jet Airways (India) Ltd, with over Rs. 538 crores remaining outstanding.

Goyal was en route to the Serious Fraud Investigation Office (SFIO) when the ED detained him for questioning. Following his day-long interrogation, Goyal was arrested by the ED on September 1.

Subsequently, he was produced before a special court, which ordered his detention in ED custody until September 14. On September 14, he was further remanded to judicial custody for a duration of two weeks till September 29, 2023.

Case no. – WP/3162/2023

Case Title – Naresh Goyal v. Directorate of Enforcement