Naresh Goyal Gets 2 Months Interim Medical Bail in ED Case
Moneylife Digital Team 06 May 2024
The Bombay High Court on Monday granted two months interim medical bail to Jet Airways Ltd's founder Naresh Goyal in a money laundering case registered against him by the directorate of enforcement (ED), says a report. Mr Goyal is presently hospitalised at Sir HN Reliance Foundation Hospital and Research Centre for cancer treatment.
 
According to a report from Bar & Bench, single-judge bench of justice NJ Jamadar ordered that Mr Goyal will be released upon payment of sureties worth Rs1 lakh.
 
The HC also directed him to stay within the jurisdiction of the Prevention of Money Laundering Act (PMLA) court in Mumbai.
 
Earlier, the sessions court allowed Mr Goyal to be hospitalised for two months for cancer treatment.
 
While he was allowed to be hospitalised, the sessions court rejected his plea for permanent bail on medical grounds in April. Mr Goyal then approached the HC. 
 
The money-laundering case arose from a first information report (FIR) registered by central bureau of investigation (CBI) against Mr Goyal, his wife Anita, and others in connection with the alleged fraud perpetrated with Canara Bank.
 
Canara Bank had complained that it had given loans and credit limits to Mr Goyal's Jet Airways worth Rs849 crore, of which over Rs538 crore was outstanding and then declared a fraud in July 2021.
 
The investigations also revealed that private and personal expenses of the Goyal family and staff salaries were paid through the airline accounts and funds were siphoned off through Jet Lite by Jet Airways Ltd through loans, advances and investments.
 
It may be recalled that the once-powerful Jet Airways, which virtually ruled the skies for nearly 25 years, was finally grounded in April 2019 due to financial problems and heavy losses.
Comments
david.rasquinha
1 month ago
If only the many victims of the Goyals, like the Jet employees, the various vendors, the banks etc. could get even a fraction of this sympathy and consideration.
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