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Jet Airways founder Naresh Goyal sent to 14-day judicial custody in bank fraud case

In a recent development concerning Jet Airways’ founder Naresh Goyal, he is facing an ongoing legal issue. On Thursday, in a special Prevention of Money Laundering Act (PMLA) court in Mumbai, a businessman has been remanded for 14 more days in connection with an alleged money laundering case involving a purported sum of ₹538 crore with the Kanara Bank.

After extensive questioning at the Enforcement Directorate’s central office, Goyal was arrested on September 1. The 74-year-old Goyal had appeared before a special judge under the PMLA, which had taken cognizance of the cases against him, as the investigating agency did not seek any further remand.

Subsequently, Goyal had applied stating that he was suffering from multiple health issues and requested permission for daily medical check-ups by his family physician, specialist consultant, and personal doctors, along with the provision of regular medical facilities while in jail. He is to remain in the jurisdiction. The court has asked the prosecution to file its reply on Goyal’s application regarding his remand to custody.

The case against Goyal, which has brought him face to face with the Enforcement Directorate this year in May, is based on an FIR registered with the Central Bureau of Investigation (CBI). The FIR was registered on the basis of a complaint made by the bank, alleging that Jet Airways (India) Ltd had sanctioned and disbursed ₹848.86 crore in loans and advances to the airline, of which ₹538.62 crore were pending.