Jet Airways founder Naresh Goyal was sentenced to Arthur Road prison in the $538 billion loan fraud case

After his ED custody remand expired on Thursday morning, Jet Airways founder Naresh Goyal was brought before the special PMLA court. The agency requested his judicial detention upon presenting him before the special court, and as a result, the special court remanded him to judicial custody.

Jet Airways founder Naresh Goyal, was placed in judicial custody by the special PMLA court on Thursday for a period of 14 days before being sent to Arthur Road jail. On September 1, late at night, the Enforcement Directorate (ED) detained Goyal in relation to a complaint filed against Jet Airways, Goyal, and others for allegedly cheating Canara Bank for $538 million.

Jet-Airways-founder-Naresh-Goyal

After his ED custody remand expired on Thursday morning, Jet Airways founder Naresh Goyal was brought before the special PMLA court. The agency requested his judicial detention upon presenting him before the special court, and as a result, the special court remanded him to judicial custody.

After the court ordered him to remain in judicial custody, Jet Airways founder Naresh Goyal filed a number of motions asking the court to permit daily medical examinations by his family doctor, regular medical consultant, and personnel specialist.

Jet Airways founder Naresh Goyal in Prison

He claimed that after experiencing unease and dizziness on September 13, he was transported to JJ Hospital. His heart rate was extremely low after diagnosis, and the 74-year-old was at risk for cardiac arrest because of his history of heart illness and previous bypass surgery. In addition, he stated that he had a left main artery blockage of 80% and needed routine medical care because he was also receiving treatment for depression.

On the grounds that his wife had cancer, Jet Airways founder Naresh Goyal also requested permission to see or call his family for an hour each day.

Jet Airways founder Naresh Goyal

The court authorized him to eat home-cooked food in accordance with his dietary prescription while also ordering the jail administration and the ED to respond to his petitions by Monday.

The agency has detained Goyal, 74, in connection with the money laundering investigation into the claim that he and the airline robbed Canara Bank of 538 crore.

The ED has further argued that Jet Airways borrowed money from a group of ten banks to cover its operating expenses between 2011–12 and 2018–19. Nevertheless, 6,000 of the entire loan balance is still unpaid. According to the agency, a forensic assessment showed that 1,152 crores were misappropriated under the premise of consulting and professional services, and 2,547.83 crores were misappropriated to pay off a loan owed by a sister company, Jet Lite Limited (JLL). The funds provided to JLL were then removed from Jet Airways’ financial records. Additionally, according to the ED, 9.46 crore had been paid to domestic workers and family members employed at Goyal’s home.

Jet Airways founder Naresh Goyal

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