Mumbai, Sep 2 (PTI) Jet Airways founder Naresh Goyal was sent to Enforcement Directorate’s (ED) custody till September 11 in connection with an alleged loan fraud estimated to be around ₹538.62 crore of Canara Bank.
Goyal (74) was arrested by the Central agency on Friday night under the Prevention of Money Laundering Act (PMLA) following a long session of questioning at its office here.
He was produced before the court on Saturday.
The money laundering case stems from a First Information Report registered by the Central Bureau of Investigation (CBI) against Jet Airways, Goyal, his wife Anita and some former executives of his defunct airline.
The FIR was registered on the bank’s complaint alleging that it sanctioned credit limits and loans to Jet Airways (India) Ltd to the tune of ₹848.86 crore, of which ₹538.62 crore is outstanding. JIL diverted funds to its subsidiaries, it alleged.
