ED Attaches Jet Airways Properties Worth Rs 538 Cr In Money Laundering Case

The attached properties include 17 residential flats/bungalows and commercial premises in London, Dubai, and various states in India.

ED has attached properties worth Rs 538 crore of Jet Airways founder Naresh Goyal and his family members.

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New Delhi: The Enforcement Directorate (ED) on Wednesday said it has attached properties worth Rs 538 crore of Jet Airways founder Naresh Goyal, his family members, and companies under the Prevention of Money Laundering Act (PMLA) 2002 linked to an alleged bank loan fraud.

 

The attached properties include 17 residential flats/bungalows and commercial premises in London, Dubai, and various states in India. The seized properties are in the name of various companies and persons like Jetair Private Limited, Jet Enterprises Private Limited, Naresh Goyal, his wife Anita, and son Nivaan, ED said in a statement.

"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 residential flats/bungalows and commercial premises in the name of various companies and persons viz. Jetair Private Limited, Jet Enterprises Private Limited, founder Chairman of Jet Airways (India) Limited (JIL) Naresh Goyal, his wife Anita Goyal and son Nivaan Goyal situated in London, Dubai and various States of India," the statement said.

ED has provisionally attached properties worth Rs 538.05 Crore under the provisions of PMLA, 2002 in the money laundering investigation against M/s Jet Airways (India) Limited (JIL). The attached properties include 17 residential flats/bungalows and commercial premises in the… pic.twitter.com/jJAOTaYG3o

— ED (@dir_ed) November 1, 2023

Goyal, 74, was arrested by the ED on September 1 and the agency filed a charge sheet against him on Tuesday before a special Prevention of Money Laundering Act (PMLA) court in Mumbai, reported PTI.

The money laundering case stems from the first information report (FIR) of the Central Bureau of Investigation (CBI) against Jet Airways, Goyal, his wife Anita and some former company executives in connection with the alleged fraud case.

 

According to PTI, the FIR, which was registered on the bank's complaint, alleged that it sanctioned credit limits and loans to Jet Airways (India) Ltd to the tune of Rs 848.86 crore, of which Rs 538.62 crore was outstanding.

 

Earlier, during his remand hearing, the investigation agency had said that the Jet Airways founder siphoned off money from India to abroad by creating various trusts in foreign countries.

As per PTI, the investigation revealed that the accused has created various Trusts abroad and through those trusts he purchased various immovable properties. The money for those trusts is nothing but the proceeds of crime (POC) siphoned off from India to abroad, it had said.

The ED said that their investigation further revealed that Goyal had purchased high-value properties in Mumbai and subsequently sold the same. He also formed a web of companies in India through which he has acquired a lot of immovable properties.

Referring to an audit report, the Enforcement Directorate (ED) has alleged that the loans availed by Jet Airways (India) Limited (JIL) were used for purchasing immovable assets such as furniture, apparel and jewellery, reported PTI.