Jet Airways Founder Naresh Goyal Was Sentenced To Arthur Road Prison In The 538 billion USD Loan Fraud Case
Jet Airways Founder Naresh Goyal Was Sentenced To Arthur Road Prison In The 538 billion USD Loan Fraud Case: Naresh Goyal, the founder of the grounded airline Jet Airways, was placed in judicial custody by the special PMLA court on Thursday for a period of 14 days before being sent to Arthur Road jail. On September 1, late at night, the Enforcement Directorate (ED) detained Goyal in connection with a complaint filed against Jet Airways, Goyal, and others for allegedly cheating Canara Bank for $538 million.
After his ED custody remand expired on Thursday morning, Goyal was brought before the special PMLA court. The agency requested his judicial detention upon presenting him before the special court, and as a result, the specialized court ordered him to judicial custody.
After the court ordered his detention into custody, Goyal filed a number of motions asking the court to permit daily medical examinations by his family doctor, regular medical consultant, and personnel specialist.
He claimed that after experiencing unease and dizziness on September 13, he was transported to JJ Hospital. His heart rate was extremely low after diagnosis, and the 74-year-old was at risk for cardiac arrest because of his history of heart illness and previous bypass surgery. In addition, he stated that he had an 80% blockage in his left major artery and needed frequent medical care because he was also receiving treatment for depression.
On the grounds that his wife had cancer, Goyal also requested permission to see or call his family for an hour each day.
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The court authorized him to eat home-cooked food in accordance with his dietary prescription while also ordering the jail administration and the ED to respond to his petitions by Monday.
The agency has detained Goyal, 74, in connection with its money laundering investigation into the claim that he and the airline robbed Canara Bank of 538 crore.
The ED has further argued that Jet Airways borrowed money from a group of ten banks to cover its operating expenses between 2011–12 and 2018–19. Nevertheless, 6,000 of the entire loan balance is still unpaid. According to the agency, a forensic assessment showed that 1,152 crores were misappropriated under the premise of consulting and professional services, and 2,547.83 crores were misappropriated to pay off a loan owed by a sister company, Jet Lite Limited (JLL).
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The funds provided to JLL were then removed from Jet Airways’ financial records. Additionally, according to the ED, 9.46 crore had been paid to domestic workers and family members employed at Goyal’s home.
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