Updated on Sept 3, 8.40 a.m.

The Enforcement Directorate (ED) has contended that Jet Airways founder Naresh Goyal -- who was arrested late on Sept 1 -- had allegedly diverted around ₹9.50 crore from a public sector bank loan to clear off his private loans.

Producing Goyal before a special PMLA court in Mumbai on Sept 2, the ED said that his daughter Namrata Goyal’s production house also got money from Jet Airways accounts to pay salaries and other commitments.

In a big development, the Enforcement Directorate (ED) arrested Naresh Goyal on Sept 1, the founder of Jet Airways, in connection with a money laundering case, according to sources.

The sources said that Goyal was arrested at around 10 p.m. on Sept 1 after a marathon interrogation in connection with causing ₹538 crore loss to Canara Bank. He will be produced before a PMLA court in Mumbai today.

The CBI had registered the FIR in May

The ED case is based on an FIR registered by the Central Bureau of Investigation (CBI) in May this year. On May 5, CBI officers had conducted searches at seven locations in Mumbai, including Goyal’s residence and offices.

The CBI FIR said that a written complaint filed on Nov 11 last year alleged cheating, criminal conspiracy, criminal breach of trust and criminal misconduct by the Jet Airways founder.

The complaint, signed by P Santosh, chief general manager, Canara Bank, also mentioned Anita Naresh Goyal, Gaurang Ananda Shetty, unknown public servants and others, causing a wrongful loss of ₹538.62 crore to the bank.

No searches conducted on new owners

The sources clarified that the CBI searches were not conducted at the premises linked to the new owners of Jet Airways.

In Apr 2019, Jet Airways suspended its operations due to a severe cash crunch and mounting debt. The airline once used to be India’s largest private carrier.

(Source: IANS)

-Edited for style

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