Bail to Jet Airways founder Naresh Goyal in ED Case, got relief on medical grounds

The Bombay High Court has given a big relief to Jet Airways founder Naresh Goyal in the money laundering case. While hearing his bail plea on Monday, granted him bail for four weeks on medical grounds for cancer treatment. Naresh Goyal is suffering from cancer.

Bombay High Court grants bail

Earlier, Naresh Goyal got interim bail for 2 months from Bombay High Court in May on medical grounds. After getting treatment, Naresh Goyal has been sent to jail again. Regarding treatment, he had once again filed a bail petition in the court for cancer examination. Naresh Goyal was granted bail after the court accepted the petition on Monday His wife Anita Goyal was also suffering from cancer. She passed away in Mumbai in May this year.

Naresh Goyal was arrested in 2023

Jet Airways founder Naresh Goyal was arrested in 2023. He is accused of misusing Jet Airways' money and acquiring illegal property abroad through money laundering. In this case, the ED has arrested him after registering a case against him.

The Goyal family was accused of paying for personal expenses - such as staff salaries, phone bills and vehicle expenses - from the Jet Airways account.

He is suffering from cancer and had sought bail for treatment

The High Court had granted interim bail to Naresh Goyal for two months in May, which was later extended for four weeks and then for two more months. The ED arrested Goyal in September 2023 in a money laundering case.

ED allegation on Naresh Goyal

Al though the ED alleged that Rs 538.68 crore received by Jet Airways from Canara Bank was embezzled and money was laundered. Naresh Goyal’s wife Anita Goyal was arrested by the ED in November 2023 when it filed a chargesheet in the court.

A special court here granted bail to Anita on the same day keeping in mind her health. Naresh Goyal’s wife Anita died in May this year.

Then due to being burdened with debt, Jet Airways was grounded (ceased operations) on 17 April 2019.

In the meanwhile, Jalan-Kalrock had won the bid for Jet Airways in June 2021, the Jalan-Kalrock consortium won the bid for Jet Airways under the bankruptcy resolution process of the National Company Law Tribunal (NCLT). Since then, the process of revival of Jet is going on, but the airline has not been able to start till now.

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Jalan is a Dubai-based businessman. At the same time, Kalrock Capital Management Limited is a London-based global firm working in the field of financial advisory and alternative asset management.