CBI raids Jet Airways offices, founder Naresh Goyal's residence in Rs 538 cr bank fraud case
New Delhi, May 5: Central Bureau of Investigation (CBI) on Friday raided the offices of Jet Airways and other premises of founder Naresh Goyal in connection with a case of alleged bank fraud amounting to ₹ 538 crores, officials said.
The Central agency has registered a case against Goyal, his wife Anita, former director Gaurang Ananda Shetty, and unknown bank officials following a complaint from Canara Bank. Goyal and others have been accused of diverting funds and causing losses to the bank.
According to sources, the raids at seven locations were unrelated to Jet Airways' new owners, the Jalan Kalrock Consortium, which has an office in Gurgaon and is seeking to resurrect the airline, which was grounded in April 2019 due to financial issues.
Jet Airways, India's former largest private carrier, ceased operations in April 2019 due to a serious cash shortage and rising debt. After a lengthy insolvency procedure, the airline was acquired in June 2021 by a partnership between UAE-based investor Murari Lal Jalan and London-based Kalrock Capital.
The CBI has charged Jet Airways and its founders with siphoning funds.
According to the agency, the airline spent 1,152.62 crore on professional and consultancy expenses between April 1, 2011, and June 30, 2019. Suspicious transactions of 197.57 crore were identified among entities linked to Jet Airways, with key managerial personnel of the airline also connected to these entities.
Jet Airways paid 420.43 crore of the total 1,152.62 crore in professional and consultancy expenses to businesses whose business nature did not fit the service descriptions on their invoices, according to the probe.
These firms allegedly had a turnover similar to the amount recorded by Jet Airways under the guise of professional and consultancy expenses.
Also Read | 'Molestation' case: Ex-Haryana Sports Minister Sandeep Singh refuses to undergo lie detector test
- With inputs from agencies
