ED attaches property worth Rs 538 crore in Jet Airways case

The Enforcement Directorate has attached property worth Rs 538 crore as a part of its investigation into money laundering allegations against bankrupt airline Jet Airways, the agency said in a statement on Wednesday.

The ED had filed a chargesheet against Jet Airways founder Naresh Goyal and five others on October 31. Goyal was arrested by the ED on September 1 under the Prevention of Money Laundering Act (PMLA). Canara Bank alleged that that loans given for the airline were allegedly diverted for personal expenses and clearing his private liabilities.

He is currently in judicial custody and lodged at the Arthur Road jail.


As per ED, the attached properties include 17 residential flats, bungalows and commercial premises in the name of various companies and persons namely M/s Jetair Private Limited, M/s Jet Enterprises Private Limited, Goyal, his wife Anita Goyal and son Nivaan Goyal situated in London, Dubai and various states across India.

ED initiated investigation on the basis of FIR registered by CBI, BS&FB, Delhi on the basis of a written complaint submitted by Canara Bank, Mumbai, alleging therein offences of cheating, criminal conspiracy, criminal breach of trust and criminal misconduct committed by M/s JIL and its promoter and directors which resulted in a massive NPA of Rs. 538.62 crore.

The ED has contended that the Goyal allegedly diverted company's funds, appointing his family members as employees, paying salaries of a company floated by his daughter, paying huge amounts of professional and consultancy fees, dubious expenses, etc to the tune of around Rs 1,000-crore, and unaccounted transactions with payments made to foreign accounts.