ED questions Jet’s Goyal in FEMA case

Mumbai: Jet Airways founder and chairman, Naresh Goyal was questioned by the Enforcement Directorate (ED) in connection with alleged violation of foreign exchange law. The marathon questioning of Goyal went on till late in the evening at the Ballard Pier office of the central agency where his statement was recorded under the Foreign Exchange Management Act (FEMA).

This is in the background of suspicion of money laundering and diversion funds, instances of which were allegedly found by the sleuths during a search at 12 premises belonging to Goyal and a former shareholder in the airlines, across Mumbai and Delhi on August 23.

The former shareholder, Hasmukh Gardi, who initially owned substantial amount of shares in the airlines, now lives in Dubai while his premises at Carmichael Road, which was searched, is looked after by his son-in-law. Gardi’s name had appeared in the Panama papers.

In May this year, the ED had launched a probe into Etihad’s investment into Jet Privilege Private Limited (JPPL) in 2014. Etihad had invested Rs. 900 crore in JPPL which was suspected to be a violation of Foreign Direct Investment (FDI) norms as the former had picked up 50.1% stake in the company through the deal.

A separate investigation was also initiated to find out Goyal’s suspected investment in foreign airlines. The now grounded airline had secured Rs. 9,000 crore in loans for the company, of which 25-30% is suspected to have been misappropriated in the form of overseas payments and remittances to commission agents. A contentious transaction pertains to the payments made to a company in Ireland which had leased out planes to Jet Airways.

It is suspected that the inflated amounts were paid in the form of rentals to the leasing company with a purported intention of diversion of funds, which could invite action under the provisions of Prevention of Money Laundering Act (PMLA).



  1. Pingback: aa meetings

  2. Pingback: floor epoxy coating

  3. Pingback: bitcoin price

  4. Pingback: CBD Oil for anxiety

  5. Pingback: hotels on the Las Vegas Monorail

  6. Pingback: king pens for sale

  7. Pingback: huong dan dang ky 12bet

  8. Pingback: facebook old layout

  9. Pingback: bitcoin evolution review

  10. Pingback: Master Chef E480 manuals

  11. Pingback: 메이저토토

  12. Pingback: DevOps Tools

  13. Pingback: Install Holiday Lights

  14. Pingback: buy cc fullz

  15. Pingback: What Is A Source In A Research Paper

  16. Pingback: 링크나라

  17. Pingback: nova88

  18. Pingback: köp Adderall 30mg

  19. Pingback: 이천눈썹

  20. Pingback: lsd additive

  21. Pingback: meet women

  22. Pingback: 토토샤오미

  23. Pingback: Hidden Wiki

  24. Pingback: magic mushroom dispensary​

  25. Pingback: rehab center

  26. Pingback: buy psychedelic drugs online

  27. Pingback: osymia weight loss pill​

  28. Pingback: uniccv

  29. Pingback: cold fire carts

Leave a Reply

Your email address will not be published.

3 × four =

News is information about current events. News is provided through many different media: word of mouth, printing, postal systems, broadcasting, electronic communication, and also on the testimony of observers and witnesses to events. It is also used as a platform to manufacture opinion for the population.

Contact Info

D 601  Riddhi Sidhi CHSL
Unnant Nagar Road 2
Kamaraj Nagar, Goreagaon West
Mumbai 400062 .

Email Id: [email protected]

West Bengal

Eastern Regional Office
Indsamachar Digital Media
Siddha Gibson 1,
Gibson Lane, 1st floor, R. No. 114,
Kolkata – 700069.
West Bengal.

Office Address

251 B-Wing,First Floor,
Orchard Corporate Park, Royal Palms,
Arey Road, Goreagon East,
Mumbai – 400065.

Download Our Mobile App

IndSamachar Android App IndSamachar IOS App
To Top
WhatsApp WhatsApp us