The Central Bureau of Investigation (CBI) conducted searches at the office of Jet Airways and the home of its founder, Naresh Goyal, on Wednesday in connection with an alleged bank fraud case. The raids were carried out in Mumbai and Delhi, and CBI officials seized documents and other evidence during the search.
According to sources, the CBI is investigating a case of alleged fraud involving Jet Airways and its promoter Naresh Goyal. The agency is looking into allegations that Goyal and his associates siphoned off funds from the airline and defrauded banks.
The CBI registered a case against Naresh Goyal, Jet Airways, and other individuals in August 2020 on the basis of a complaint filed by the State Bank of India. The bank had alleged that the airline had defaulted on loans worth over Rs 8,000 crore.
The CBI’s action comes amid reports that the government is considering the possibility of reviving Jet Airways, which has been grounded since April 2019. The airline has been struggling with financial difficulties and owes over Rs 15,000 crore to various banks and other creditors.
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Jet Airways was once one of the leading airlines in the country, but it ran into trouble in 2018 and was eventually forced to suspend operations in April 2019 due to financial difficulties. The airline’s founder Naresh Goyal stepped down from the board in March 2019, and the airline was later taken over by a consortium of lenders led by the State Bank of India.
The CBI’s search operation at Jet Airways and Naresh Goyal’s residence is the latest development in the ongoing investigation into the alleged fraud. The agency is likely to scrutinize the documents and other evidence seized during the search to build a case against the accused.
The investigation is expected to shed more light on the alleged fraud and the role of Naresh Goyal and other individuals in the matter. The CBI is likely to take further action based on the findings of the investigation. Which could have significant implications for Jet Airways and its former promoters.
