Jet Air's RPTs under scanner; SFIO suspects firm of siphoning funds

NEW DELHI: Jet Airways' related party transactions (RPTs) have come under SFIO scanner, according to an ET NOW report. The SFIO is likely to probe into beleaguered airline's third-party contracts, as it suspects siphoning of funds by the airline via the RPTs, the report suggests.

SFIO would also probe RPTs between Jet Airways and its founder Naresh Goyal, whose firm used to handle various arms of Jet Airways.

SFIO probe would also involve checking whether the third party transactions (TPTs) were done at higher than market value.

MCA had found siphoning of funds in its prima facie investigations.

Shares of Jet Airways were trading 4.87 per cent lower at Rs 37.10 apiece at around 2 pm.