Enforcement Directorate questioned Jet Airways founder Naresh Goyal yesterday in a case of an alleged contravention of the foreign exchange law.
The questioning comes days after a dozen premises, including Goyal’s Mumbai residence, his group companies and offices of Jet Airways were searched by the ED. Goyal’s businesses include 19 privately-held companies, five of which were registered abroad. According to the agency, these foreign firms allegedly carried out doubtful transactions under the guise of selling, distribution and operating expenses. While Goyal’s statement was recorded under the Foreign Exchange Management Act at the agency’s zonal office in Mumbai yesterday, additional evidence may lead to registration of a case under the Prevention of Money Laundering Act.
A full-service carrier, Jet Airways shut its operations in April this year due to financial crisis.
An inspection report by the Ministry of Corporate Affairs revealed large-scale irregularities, including diversion of funds. Currently, the airline is going through the resolution process under the Insolvency and Bankruptcy Code.