ED attaches Jet Airways' properties worth Rs. 538 crore
What's the story
The Enforcement Directorate (ED) attached properties worth Rs. 538.05 crore as a part of its investigation into the money laundering allegations against Jet Airways on Wednesday. The properties include 17 residential and commercial properties in London, Dubai, and India belonging to various companies and individuals, including founder-chairman Naresh Goyal, his wife Anita Goyal, and their son Nivaan Goyal, among others.
Twitter Post
Statement by ED
Directorate of Enforcement (ED) has provisionally attached properties worth Rs 538.05 Crore under the provisions of Prevention of Money Laundering Act (PMLA) 2002 in the money laundering investigation against Jet Airways (India) Limited (JIL). The attached properties include 17… pic.twitter.com/BCYOPjcvgS
— ANI (@ANI) November 1, 2023
PMLA
Properties attached under PMLA
The agency attached the properties under the Prevention of Money Laundering Act (PMLA), 2002. The investigation was launched based on an FIR registered by the Central Bureau of Investigation (CBI) following a written complaint from Canara Bank in November. JIL and its promoters and directors were accused by the public sector bank of defrauding, criminal conspiracy, criminal breach of trust, and criminal misconduct.
Bank
Bank sanctioned credit limits, loans totaling Rs. 848.86 crore
In the FIR, the bank alleged that it sanctioned credit limits and loans to JIL totaling Rs 848.86 crore, of which Rs 538.62 crore was outstanding. The CBI also stated that the account was declared "fraud" on July 29, 2021. Goyal was arrested on September 1, and the ED filed a chargesheet against Goyal and five others in the alleged fraud case on Tuesday.