The famous Jet Airways founder Naresh Goyal was arrested because of money laundering. After a long session of questioning at the central agency’s office in Mumbai. He was taken into custody under the Prevention of Money Laundering Act. He will be taken to a special PMLA court on Saturday related to his case. The case caught much popularity among people and all of them were curious to know more about this case. Many people are hitting the button on the internet for more information. Because it was a serious crime in India and the past many other cases of money laundering have become known. Continue to read the whole article for more details.
Naresh Goyal was arrested by the Enforcement Directorate (ED) on Friday for an alleged money laundering case linked to a loan fraud case of Rs 538 crore from Canara Bank. He was questioned for seven hours after that he was arrested in Mumbai. In July ED searched for eight locations in Mumbai and Delhi to find any connection with the case of Naresh Goyal fraud. This has a great impact on the working of the banking system and has a huge loss because of fraud. Swipe and continue to read the whole article for more information related to this case.
Why Was Naresh Goyal Arrested?
The dealing between Jet Airways and Canara Bank started in 2005, all exposures to the company were under a State Bank of India-led consortium arrangement. The money laundering case is based on a first information report against Jet Airways by some of his former company executives. That was filed by CBI on May 3. According to the bank statement, they sanctioned Rs 848.86 crore credit limits and loans to Jet Airways from which Rs 538.62 crore was not repaid by the bank. Let’s read the whole article to not miss any information related to this case.
The Bank called to forensic auditor to scrutinise all transactions and documentation processed between April 1, 2011, and June 19, 2019. The bank’s complaint started when Goyal company Jet Airways has began defaulting on repayment of loans availed from the consortium. The glaring irregularities were out on February 10, 2021, by the help of a forensic audit report. The report shows the fraudulent features such as the diversion and siphoning of funds by the accused companies. United Arab Emirates-based businessman Murari Lal Jalan and London-based Karlock Capital took over the ownership after a long insolvency process in June 2021, but Jet is yet to resume its service. Stay with our sites for the latest updates of news.
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